RPC, Inc. (NYSE:RES) – Jefferies Group increased their Q1 2018 EPS estimates for shares of RPC in a report issued on Thursday, according to Zacks Investment Research. Jefferies Group analyst B. Handler now anticipates that the oil and gas company will earn $0.44 per share for the quarter, up from their previous forecast of $0.37. Jefferies Group currently has a “Hold” rating and a $29.00 target price on the stock. Jefferies Group also issued estimates for RPC’s Q2 2018 earnings at $0.53 EPS, Q3 2018 earnings at $0.58 EPS, Q4 2018 earnings at $0.60 EPS, FY2018 earnings at $2.15 EPS, FY2019 earnings at $2.45 EPS and FY2020 earnings at $2.65 EPS.
A number of other equities analysts also recently issued reports on RES. Citigroup lifted their price target on RPC from $23.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, October 5th. Cowen set a $24.00 price target on RPC and gave the company a “hold” rating in a research note on Friday, October 6th. Deutsche Bank initiated coverage on shares of RPC in a research report on Tuesday, October 10th. They set a “hold” rating and a $25.00 target price on the stock. Credit Suisse Group cut shares of RPC from an “outperform” rating to a “neutral” rating in a research report on Friday, October 13th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised shares of RPC from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $24.75.
RPC (NYSE RES) traded up $0.93 during mid-day trading on Monday, reaching $21.14. The company’s stock had a trading volume of 2,430,000 shares, compared to its average volume of 2,100,000. The firm has a market cap of $4,580.00, a P/E ratio of 32.03, a P/E/G ratio of 0.69 and a beta of 1.14. RPC has a fifty-two week low of $16.63 and a fifty-two week high of $27.07.
RPC (NYSE:RES) last released its quarterly earnings results on Wednesday, January 24th. The oil and gas company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.16). The company had revenue of $427.30 million for the quarter, compared to analyst estimates of $515.04 million. RPC had a net margin of 10.19% and a return on equity of 17.23%. RPC’s revenue for the quarter was up 93.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.10) EPS.
Large investors have recently bought and sold shares of the stock. Prudential Financial Inc. raised its holdings in shares of RPC by 19.1% in the 3rd quarter. Prudential Financial Inc. now owns 28,660 shares of the oil and gas company’s stock worth $711,000 after purchasing an additional 4,600 shares during the period. Wells Fargo & Company MN raised its holdings in shares of RPC by 135.4% in the 3rd quarter. Wells Fargo & Company MN now owns 83,936 shares of the oil and gas company’s stock worth $2,081,000 after purchasing an additional 48,285 shares during the period. Stifel Financial Corp raised its holdings in shares of RPC by 6.5% in the 3rd quarter. Stifel Financial Corp now owns 468,163 shares of the oil and gas company’s stock worth $11,618,000 after purchasing an additional 28,488 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of RPC in the 3rd quarter worth approximately $290,000. Finally, Van ECK Associates Corp bought a new stake in shares of RPC in the 3rd quarter worth approximately $36,128,000. 37.94% of the stock is currently owned by institutional investors.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Investors of record on Friday, February 9th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Thursday, February 8th. This is a boost from RPC’s previous quarterly dividend of $0.07. RPC’s payout ratio is 42.42%.
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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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