RPC, Inc. (NYSE:RES) - Stock analysts at Capital One Financial Corporation lifted their Q3 2017 earnings estimates for RPC in a research report issued on Thursday. Capital One Financial Corporation analyst L. Lemoine now forecasts that the oil and gas company will post earnings per share of $0.30 for the quarter, up from their previous forecast of $0.25. Capital One Financial Corporation also issued estimates for RPC’s Q4 2017 earnings at $0.38 EPS, Q1 2018 earnings at $0.38 EPS, Q2 2018 earnings at $0.42 EPS, Q3 2018 earnings at $0.45 EPS and Q4 2018 earnings at $0.44 EPS.
Other equities analysts have also issued reports about the stock. Jefferies Group LLC set a $26.00 target price on shares of RPC and gave the company a “buy” rating in a report on Saturday, June 17th. Cowen and Company lifted their target price on shares of RPC from $20.00 to $24.00 and gave the company a “market perform” rating in a report on Thursday. Seaport Global Securities lowered shares of RPC from a “buy” rating to a “neutral” rating and lowered their target price for the company from $25.00 to $20.00 in a report on Wednesday, June 21st. Piper Jaffray Companies reiterated a “neutral” rating and set a $20.50 target price (up from $18.75) on shares of RPC in a report on Wednesday, July 12th. Finally, Zacks Investment Research lowered shares of RPC from a “buy” rating to a “hold” rating in a report on Tuesday, July 18th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $22.91.
Shares of RPC (RES) opened at 21.55 on Friday. RPC has a one year low of $13.50 and a one year high of $23.36. The company’s market capitalization is $4.69 billion. The firm’s 50-day moving average price is $20.35 and its 200-day moving average price is $19.70.
RPC (NYSE:RES) last issued its quarterly earnings data on Wednesday, July 26th. The oil and gas company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. The firm had revenue of $399 million during the quarter, compared to analyst estimates of $415.65 million. RPC had a negative return on equity of 1.76% and a negative net margin of 1.15%. The company’s revenue for the quarter was up 179.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.23) EPS.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Thursday, August 10th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Tuesday, August 8th. This is an increase from RPC’s previous quarterly dividend of $0.05. RPC’s payout ratio is -83.32%.
A number of large investors have recently bought and sold shares of the company. Flinton Capital Management LLC increased its stake in RPC by 86.9% in the first quarter. Flinton Capital Management LLC now owns 7,296 shares of the oil and gas company’s stock worth $134,000 after buying an additional 3,392 shares during the period. Meadow Creek Investment Management LLC increased its stake in RPC by 86.9% in the first quarter. Meadow Creek Investment Management LLC now owns 10,032 shares of the oil and gas company’s stock worth $184,000 after buying an additional 4,664 shares during the period. Pacer Advisors Inc. increased its stake in RPC by 22.0% in the first quarter. Pacer Advisors Inc. now owns 10,144 shares of the oil and gas company’s stock worth $186,000 after buying an additional 1,830 shares during the period. BNP Paribas Arbitrage SA increased its stake in RPC by 40.9% in the first quarter. BNP Paribas Arbitrage SA now owns 10,503 shares of the oil and gas company’s stock worth $192,000 after buying an additional 3,048 shares during the period. Finally, Bbva Compass Bancshares Inc. bought a new stake in RPC during the second quarter worth approximately $219,000. 40.26% of the stock is owned by institutional investors and hedge funds.
RPC Company Profile
RPC, Inc (RPC) is a holding company for several oilfield services companies. The Company provides a range of specialized oilfield services and equipment primarily to independent oil and gas companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the southwest, mid-continent, Gulf of Mexico, Rocky Mountain and Appalachian regions, and in selected international markets.
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