RPC, Inc. (NYSE:RES)‘s stock had its “equal weight” rating restated by Capital One Financial Corporation in a note issued to investors on Wednesday, October 25th. Capital One Financial Corporation also issued estimates for RPC’s Q4 2017 earnings at $0.33 EPS, Q1 2018 earnings at $0.36 EPS, Q1 2018 earnings at $0.35 EPS, Q2 2018 earnings at $0.39 EPS, Q2 2018 earnings at $0.37 EPS, Q3 2018 earnings at $0.42 EPS, Q3 2018 earnings at $0.40 EPS, Q4 2018 earnings at $0.43 EPS, Q4 2018 earnings at $0.41 EPS, FY2018 earnings at $1.53 EPS and FY2019 earnings at $1.77 EPS.
Several other research firms have also commented on RES. Piper Jaffray Companies reaffirmed 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. Zacks Investment Research lowered RPC from a “buy” rating to a “hold” rating in a report on Tuesday, July 18th. Jefferies Group LLC reaffirmed a “buy” rating and set a $26.00 target price on shares of RPC in a report on Friday, July 21st. Cowen and Company upped their target price on RPC from $20.00 to $24.00 and gave the company a “market perform” rating in a report on Thursday, July 27th. Finally, Seaport Global Securities reaffirmed a “neutral” rating on shares of RPC in a report on Wednesday, July 26th. Fourteen research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $23.97.
RPC (RES) traded down $0.51 during trading hours on Wednesday, hitting $24.76. The company had a trading volume of 1,170,600 shares, compared to its average volume of 1,790,995. RPC has a fifty-two week low of $16.58 and a fifty-two week high of $26.45. The firm has a market capitalization of $5,473.12, a PE ratio of 64.79, a price-to-earnings-growth ratio of 1.73 and a beta of 1.16.
RPC (NYSE:RES) last announced its quarterly earnings data on Wednesday, October 25th. The oil and gas company reported $0.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.03). RPC had a net margin of 6.03% and a return on equity of 10.31%. The firm had revenue of $471.00 million for the quarter, compared to analyst estimates of $474.41 million. During the same quarter in the previous year, the company earned ($0.18) EPS. The company’s quarterly revenue was up 167.8% compared to the same quarter last year. equities research analysts expect that RPC will post 0.81 earnings per share for the current fiscal year.
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In other RPC news, Director Amy Rollins Kreisler bought 5,000 shares of RPC stock in a transaction dated Friday, October 27th. The stock was bought at an average price of $23.21 per share, for a total transaction of $116,050.00. Following the completion of the acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at $116,050. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 73.50% of the stock is owned by corporate insiders.
Several large investors have recently made changes to their positions in RES. UBS Asset Management Americas Inc. raised its holdings in shares of RPC by 48.9% during the first quarter. UBS Asset Management Americas Inc. now owns 43,792 shares of the oil and gas company’s stock worth $802,000 after acquiring an additional 14,380 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of RPC by 5.7% during the first quarter. JPMorgan Chase & Co. now owns 291,933 shares of the oil and gas company’s stock worth $5,345,000 after acquiring an additional 15,828 shares in the last quarter. Prudential Financial Inc. raised its holdings in shares of RPC by 96.7% during the first quarter. Prudential Financial Inc. now owns 33,620 shares of the oil and gas company’s stock worth $616,000 after acquiring an additional 16,530 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of RPC by 348.7% during the first quarter. Wellington Management Group LLP now owns 104,788 shares of the oil and gas company’s stock worth $1,919,000 after acquiring an additional 81,434 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of RPC by 110.0% during the first quarter. Legal & General Group Plc now owns 24,330 shares of the oil and gas company’s stock worth $445,000 after acquiring an additional 12,747 shares in the last quarter. Institutional investors and hedge funds own 38.73% of the company’s stock.
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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