RPC, Inc. (NYSE:RES) – Investment analysts at Capital One Financial dropped their Q2 2019 EPS estimates for shares of RPC in a research note issued to investors on Thursday, April 25th, Zacks Investment Research reports. Capital One Financial analyst L. Lemoine now expects that the oil and gas company will earn $0.03 per share for the quarter, down from their previous estimate of $0.04. Capital One Financial also issued estimates for RPC’s FY2019 earnings at $0.13 EPS and FY2020 earnings at $0.31 EPS.
Other equities research analysts also recently issued reports about the stock. Bank of America reaffirmed an “underperform” rating and issued a $9.50 price objective (down from $12.00) on shares of RPC in a research report on Thursday, April 25th. Morgan Stanley reduced their price objective on shares of RPC from $12.00 to $9.50 and set an “underperform” rating for the company in a research report on Thursday, April 25th. Zacks Investment Research raised shares of RPC from a “sell” rating to a “hold” rating in a research report on Tuesday, February 26th. Wells Fargo & Co downgraded shares of RPC from a “market perform” rating to an “underperform” rating in a research report on Monday, January 7th. They noted that the move was a valuation call. Finally, ValuEngine downgraded shares of RPC from a “sell” rating to a “strong sell” rating in a research report on Wednesday, January 9th. Nine investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $12.38.
Shares of RES stock opened at $10.34 on Monday. RPC has a 52-week low of $9.35 and a 52-week high of $20.18. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 4.40 and a beta of 0.93.
RPC (NYSE:RES) last posted its earnings results on Wednesday, April 24th. The oil and gas company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.05). RPC had a return on equity of 11.90% and a net margin of 7.57%. The business had revenue of $334.70 million for the quarter, compared to the consensus estimate of $351.95 million. During the same period in the previous year, the firm earned $0.24 earnings per share. The company’s revenue was down 23.3% on a year-over-year basis.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in RES. Wells Fargo & Company MN boosted its stake in RPC by 17.8% in the third quarter. Wells Fargo & Company MN now owns 159,687 shares of the oil and gas company’s stock valued at $2,472,000 after acquiring an additional 24,103 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of RPC by 35.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 699,155 shares of the oil and gas company’s stock valued at $10,823,000 after buying an additional 181,125 shares in the last quarter. Martingale Asset Management L P purchased a new stake in shares of RPC during the 3rd quarter valued at approximately $202,000. Dimensional Fund Advisors LP lifted its stake in shares of RPC by 5.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,724,601 shares of the oil and gas company’s stock valued at $26,697,000 after buying an additional 85,354 shares in the last quarter. Finally, LPL Financial LLC purchased a new stake in shares of RPC during the 3rd quarter valued at approximately $156,000. Hedge funds and other institutional investors own 32.87% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Thursday, May 9th. RPC’s payout ratio is 48.78%.
About RPC
RPC, Inc, through its subsidiaries, 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.