Jefferies Group reaffirmed their hold rating on shares of RPC (NYSE:RES) in a research report sent to investors on Wednesday. They currently have a $19.00 price target on the oil and gas company’s stock. Jefferies Group also issued estimates for RPC’s Q1 2018 earnings at $0.25 EPS, Q2 2018 earnings at $0.31 EPS, Q3 2018 earnings at $0.37 EPS, Q4 2018 earnings at $0.37 EPS, FY2018 earnings at $1.30 EPS, FY2019 earnings at $1.60 EPS and FY2020 earnings at $1.90 EPS.
A number of other equities research analysts also recently commented on the company. B. Riley downgraded RPC from a buy rating to a hold rating and set a $27.00 target price on the stock. in a research report on Thursday, December 28th. Guggenheim set a $25.00 target price on RPC and gave the stock a buy rating in a research report on Monday, January 29th. Stephens assumed coverage on RPC in a research report on Tuesday, January 9th. They issued an equal weight rating and a $28.00 target price on the stock. Wells Fargo restated a market perform rating on shares of RPC in a research report on Friday, January 12th. Finally, Zacks Investment Research upgraded RPC from a hold rating to a strong-buy rating and set a $29.00 price objective on the stock in a research report on Thursday, January 4th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. RPC has an average rating of Hold and a consensus target price of $24.26.
NYSE:RES opened at $17.21 on Wednesday. The stock has a market capitalization of $3,959.46, a P/E ratio of 26.08, a PEG ratio of 0.62 and a beta of 0.83. RPC has a 12 month low of $16.87 and a 12 month high of $27.07.
RPC (NYSE:RES) last posted its earnings results on Wednesday, January 24th. The oil and gas company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.16). The firm had revenue of $427.30 million during the quarter, compared to analysts’ expectations of $515.04 million. RPC had a return on equity of 16.90% and a net margin of 10.19%. RPC’s quarterly revenue was up 93.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.10) earnings per share. analysts anticipate that RPC will post 1.64 EPS for the current fiscal year.
RPC announced that its Board of Directors has authorized a stock repurchase program on Monday, February 12th that allows the company to repurchase 10,000,000 outstanding shares. This repurchase authorization allows the oil and gas company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 9th. Stockholders of record on Friday, February 9th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.32%. This is an increase from RPC’s previous quarterly dividend of $0.07. The ex-dividend date was Thursday, February 8th. RPC’s dividend payout ratio is presently 60.61%.
Several hedge funds and other institutional investors have recently modified their holdings of RES. The Manufacturers Life Insurance Company raised its holdings in shares of RPC by 7.6% in the second quarter. The Manufacturers Life Insurance Company now owns 6,514 shares of the oil and gas company’s stock worth $132,000 after buying an additional 459 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of RPC in the third quarter worth approximately $216,000. Prudential Financial Inc. raised its holdings in shares of RPC by 19.1% in the third quarter. Prudential Financial Inc. now owns 28,660 shares of the oil and gas company’s stock worth $711,000 after buying an additional 4,600 shares during the period. Virginia Retirement Systems ET AL raised its holdings in shares of RPC by 122.7% in the third quarter. Virginia Retirement Systems ET AL now owns 45,590 shares of the oil and gas company’s stock worth $1,130,000 after buying an additional 25,119 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in shares of RPC by 135.4% in the third quarter. Wells Fargo & Company MN now owns 83,936 shares of the oil and gas company’s stock worth $2,081,000 after buying an additional 48,285 shares during the period. Hedge funds and other institutional investors own 35.32% of the company’s stock.
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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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