RPC, Inc. (NYSE:RES) – Equities research analysts at SunTrust Banks reduced their FY2018 earnings per share estimates for shares of RPC in a research report issued on Wednesday, December 5th. SunTrust Banks analyst K. Sill now anticipates that the oil and gas company will post earnings per share of $0.82 for the year, down from their prior estimate of $0.90. SunTrust Banks has a “Hold” rating and a $16.00 price objective on the stock. SunTrust Banks also issued estimates for RPC’s Q4 2018 earnings at $0.11 EPS, Q1 2019 earnings at $0.09 EPS, Q2 2019 earnings at $0.11 EPS, Q3 2019 earnings at $0.16 EPS, Q4 2019 earnings at $0.17 EPS and FY2020 earnings at $0.88 EPS.

RPC (NYSE:RES) last released its earnings results on Wednesday, October 24th. The oil and gas company reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.04). The business had revenue of $439.99 million during the quarter, compared to analysts’ expectations of $456.54 million. RPC had a net margin of 12.40% and a return on equity of 20.48%. RPC’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.26 EPS.

Other analysts have also issued research reports about the company. Zacks Investment Research upgraded RPC from a “strong sell” rating to a “hold” rating in a report on Friday, October 12th. Stifel Nicolaus initiated coverage on RPC in a report on Monday, September 10th. They issued a “hold” rating and a $15.00 target price for the company. Credit Suisse Group set a $14.00 target price on RPC and gave the company a “hold” rating in a report on Thursday, October 25th. Macquarie set a $13.00 target price on RPC and gave the company a “hold” rating in a report on Thursday, October 25th. Finally, Barclays set a $13.00 target price on RPC and gave the company a “hold” rating in a report on Thursday, October 25th. Three investment analysts have rated the stock with a sell rating and seventeen have given a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $17.35.

RES opened at $11.86 on Friday. The firm has a market capitalization of $2.74 billion, a PE ratio of 17.97, a price-to-earnings-growth ratio of 0.78 and a beta of 0.70. RPC has a 12-month low of $11.77 and a 12-month high of $27.07. The company has a quick ratio of 3.01, a current ratio of 3.74 and a debt-to-equity ratio of 0.01.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 9th will be issued 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 3.37%. RPC’s dividend payout ratio is 60.61%.

Several large investors have recently made changes to their positions in the stock. AQR Capital Management LLC raised its holdings in shares of RPC by 8.0% during the third quarter. AQR Capital Management LLC now owns 3,466,461 shares of the oil and gas company’s stock worth $53,661,000 after acquiring an additional 257,686 shares in the last quarter. BlackRock Inc. raised its holdings in shares of RPC by 3.6% during the second quarter. BlackRock Inc. now owns 3,071,238 shares of the oil and gas company’s stock worth $44,748,000 after acquiring an additional 105,394 shares in the last quarter. Gabelli Funds LLC increased its position in RPC by 1.6% during the third quarter. Gabelli Funds LLC now owns 2,691,185 shares of the oil and gas company’s stock worth $41,660,000 after buying an additional 43,080 shares during the last quarter. FMR LLC increased its position in RPC by 125.2% during the third quarter. FMR LLC now owns 2,540,280 shares of the oil and gas company’s stock worth $39,324,000 after buying an additional 1,412,519 shares during the last quarter. Finally, Gamco Investors INC. ET AL increased its position in RPC by 3.0% during the third 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 buying an additional 72,237 shares during the last quarter. Institutional investors and hedge funds own 32.97% of the company’s stock.

About RPC

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.

See Also: Systematic Risk

Earnings History and Estimates for RPC (NYSE:RES)

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