RPC, Inc. (NYSE:RES) – Research analysts at SunTrust Banks lowered their FY2018 earnings per share estimates for shares of RPC in a research note issued to investors on Wednesday, October 24th, Zacks Investment Research reports. SunTrust Banks analyst K. Sill now anticipates that the oil and gas company will earn $0.90 per share for the year, down from their previous estimate of $0.98. SunTrust Banks has a “Hold” rating and a $16.00 price target on the stock.
Other research analysts have also recently issued reports about the company. Zacks Investment Research raised RPC from a “strong sell” rating to a “hold” rating in a research note on Friday, October 12th. Cowen reissued a “hold” rating and issued a $15.00 target price on shares of RPC in a research note on Thursday, July 26th. Jefferies Financial Group restated a “hold” rating and issued a $15.00 price target on shares of RPC in a report on Thursday, July 26th. B. Riley set a $16.00 target price on RPC and gave the company a “hold” rating in a research report on Thursday, July 26th. Finally, Stifel Nicolaus initiated coverage on RPC in a research report on Monday, September 10th. They issued a “hold” rating and a $15.00 target price on the stock. Three investment analysts have rated the stock with a sell rating and seventeen have issued a hold rating to the stock. RPC presently has an average rating of “Hold” and an average price target of $17.35.
NYSE:RES traded up $0.20 on Monday, reaching $14.09. The company’s stock had a trading volume of 882,582 shares, compared to its average volume of 1,780,772. RPC has a 1-year low of $12.86 and a 1-year high of $27.07. The company has a current ratio of 3.74, a quick ratio of 3.01 and a debt-to-equity ratio of 0.01. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of 21.35, a PEG ratio of 0.91 and a beta of 0.70.
RPC (NYSE:RES) last announced its quarterly earnings data on Wednesday, October 24th. The oil and gas company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.04). RPC had a return on equity of 20.48% and a net margin of 12.40%. The company had revenue of $439.99 million for the quarter, compared to analyst estimates of $456.54 million. During the same period last year, the firm earned $0.26 earnings per share. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 9th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, November 8th. This represents a $0.40 annualized dividend and a dividend yield of 2.84%. RPC’s dividend payout ratio is currently 60.61%.
Several institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC lifted its position in shares of RPC by 8.0% during the 3rd quarter. AQR Capital Management LLC now owns 3,466,461 shares of the oil and gas company’s stock worth $53,661,000 after buying an additional 257,686 shares in the last quarter. BlackRock Inc. raised its holdings in shares of RPC by 3.6% in the 2nd quarter. BlackRock Inc. now owns 3,071,238 shares of the oil and gas company’s stock worth $44,748,000 after purchasing an additional 105,394 shares during the period. Gabelli Funds LLC raised its holdings in shares of RPC by 1.6% in the 3rd quarter. Gabelli Funds LLC now owns 2,691,185 shares of the oil and gas company’s stock worth $41,660,000 after purchasing an additional 43,080 shares during the period. FMR LLC raised its holdings in shares of RPC by 125.2% in the 3rd quarter. FMR LLC now owns 2,540,280 shares of the oil and gas company’s stock worth $39,324,000 after purchasing an additional 1,412,519 shares during the period. Finally, Gamco Investors INC. ET AL raised its holdings in shares of RPC by 3.0% in the 3rd quarter. Gamco Investors INC. ET AL now owns 2,518,979 shares of the oil and gas company’s stock worth $38,994,000 after purchasing an additional 72,237 shares during the period. 32.06% of the stock is currently owned by hedge funds and other institutional investors.
RPC, Inc provides a range of oilfield services and equipment for the oil and gas companies involved in the exploration, production, and development of oil and gas properties. The company operates through Technical Services and Support Services segments. The Technical Services offers pressure pumping, fracturing, acidizing, downhole tools, coiled tubing, snubbing, nitrogen, well control, wireline, pump down, and fishing services that are used in the completion, production, and maintenance of oil and gas wells.
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