RPC, Inc. (NYSE:RES) – Investment analysts at Gabelli raised their FY2019 earnings estimates for RPC in a research report issued to clients and investors on Thursday, Zacks Investment Research reports. Gabelli analyst S. Wong now expects that the oil and gas company will earn $1.85 per share for the year, up from their prior estimate of $1.75. Gabelli also issued estimates for RPC’s FY2020 earnings at $2.00 EPS and FY2021 earnings at $2.10 EPS.
RPC (NYSE:RES) last released its quarterly earnings results on Wednesday, October 25th. The oil and gas company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.03). RPC had a return on equity of 10.31% and a net margin of 6.03%. The company had revenue of $471.00 million for the quarter, compared to analyst estimates of $474.41 million. During the same quarter last year, the company earned ($0.18) EPS. The firm’s revenue for the quarter was up 167.8% on a year-over-year basis.
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Several other research analysts also recently weighed in on RES. B. Riley restated a “buy” rating on shares of RPC in a research report on Wednesday, November 1st. BMO Capital Markets upped their price target on shares of RPC from $26.00 to $29.00 and gave the stock an “outperform” rating in a research report on Friday. Cowen and Company set a $24.00 price target on shares of RPC and gave the stock a “hold” rating in a research report on Friday, October 6th. Raymond James Financial, Inc. downgraded shares of RPC from a “strong-buy” rating to an “outperform” rating in a research report on Thursday, October 26th. Finally, Citigroup Inc. downgraded shares of RPC from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, October 26th. They noted that the move was a valuation call. Fourteen research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. RPC currently has a consensus rating of “Hold” and a consensus price target of $23.97.
RPC (NYSE RES) opened at $24.76 on Friday. RPC has a 1 year low of $16.58 and a 1 year high of $26.45. The firm has a market cap of $5,362.67, a PE ratio of 63.49, a P/E/G ratio of 1.70 and a beta of 1.16.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 10th will be paid a $0.07 dividend. This is a boost from RPC’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $0.28 annualized dividend and a dividend yield of 1.13%. RPC’s dividend payout ratio is 73.69%.
In other news, Director Amy Rollins Kreisler purchased 5,000 shares of the company’s stock in a transaction dated Friday, October 27th. The stock was acquired at an average price of $23.21 per share, with a total value of $116,050.00. Following the purchase, the director now directly owns 5,000 shares in the company, valued at approximately $116,050. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 73.50% of the company’s stock.
Several large investors have recently bought and sold shares of RES. Alliancebernstein L.P. boosted its position in shares of RPC by 58.4% during the 2nd quarter. Alliancebernstein L.P. now owns 9,040,717 shares of the oil and gas company’s stock worth $182,713,000 after purchasing an additional 3,333,619 shares during the period. Victory Capital Management Inc. boosted its position in shares of RPC by 244.9% during the 3rd quarter. Victory Capital Management Inc. now owns 2,066,941 shares of the oil and gas company’s stock worth $51,239,000 after purchasing an additional 1,467,661 shares during the period. Van ECK Associates Corp purchased a new position in shares of RPC during the 3rd quarter worth approximately $36,128,000. Vanguard Group Inc. boosted its position in shares of RPC by 20.4% during the 2nd quarter. Vanguard Group Inc. now owns 6,076,306 shares of the oil and gas company’s stock worth $122,802,000 after purchasing an additional 1,028,001 shares during the period. Finally, Cambiar Investors LLC boosted its position in shares of RPC by 272.4% during the 3rd quarter. Cambiar Investors LLC now owns 720,583 shares of the oil and gas company’s stock worth $17,863,000 after purchasing an additional 527,079 shares during the period. 38.73% of the stock is owned by hedge funds and other institutional investors.
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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