RPC, Inc. (NYSE:RES) – Equities researchers at Seaport Global Securities lowered their FY2018 earnings estimates for shares of RPC in a report issued on Wednesday, October 24th. Seaport Global Securities analyst M. Urban now forecasts that the oil and gas company will earn $0.81 per share for the year, down from their prior forecast of $1.05. Seaport Global Securities has a “Neutral” rating on the stock. Seaport Global Securities also issued estimates for RPC’s Q4 2018 earnings at $0.11 EPS, Q1 2019 earnings at $0.10 EPS, Q2 2019 earnings at $0.15 EPS and FY2019 earnings at $0.75 EPS.

Several other equities analysts have also issued reports on the stock. Cowen cut their price objective on shares of RPC from $15.00 to $12.00 and set a “market perform” rating on the stock in a report on Friday. Credit Suisse Group set a $14.00 price objective on shares of RPC and gave the company a “hold” rating in a report on Thursday. Wolfe Research set a $14.00 price objective on shares of RPC and gave the company a “sell” rating in a report on Thursday. Macquarie set a $13.00 price objective on shares of RPC and gave the company a “hold” rating in a report on Thursday. Finally, Bank of America cut their price objective on shares of RPC from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Thursday. Three equities research analysts have rated the stock with a sell rating and seventeen have given a hold rating to the company. The stock presently has an average rating of “Hold” and an average target price of $17.35.

Shares of RES stock opened at $14.37 on Monday. The company has a market cap of $3.09 billion, a P/E ratio of 21.77, a price-to-earnings-growth ratio of 0.87 and a beta of 0.84. RPC has a 52-week low of $12.96 and a 52-week high of $27.07.

RPC (NYSE:RES) last issued its quarterly earnings data on Wednesday, October 24th. The oil and gas company reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.04). The business had revenue of $439.99 million for the quarter, compared to analysts’ expectations of $456.54 million. RPC had a net margin of 12.40% and a return on equity of 20.77%. The business’s quarterly revenue was down 6.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.26 earnings per share.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. NumerixS Investment Technologies Inc grew its holdings in RPC by 101.1% in the second quarter. NumerixS Investment Technologies Inc now owns 10,861 shares of the oil and gas company’s stock worth $159,000 after purchasing an additional 5,461 shares during the last quarter. Alps Advisors Inc. grew its holdings in RPC by 38.9% in the third quarter. Alps Advisors Inc. now owns 31,332 shares of the oil and gas company’s stock worth $485,000 after purchasing an additional 8,777 shares during the last quarter. Cambiar Investors LLC grew its holdings in RPC by 1.9% in the third quarter. Cambiar Investors LLC now owns 499,200 shares of the oil and gas company’s stock worth $7,728,000 after purchasing an additional 9,526 shares during the last quarter. BlueMountain Capital Management LLC grew its holdings in RPC by 484.4% in the second quarter. BlueMountain Capital Management LLC now owns 12,833 shares of the oil and gas company’s stock worth $187,000 after purchasing an additional 10,637 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in RPC by 12.1% in the first quarter. Wells Fargo & Company MN now owns 103,424 shares of the oil and gas company’s stock worth $1,865,000 after purchasing an additional 11,141 shares during the last quarter. 31.71% of the stock is currently owned by institutional investors and hedge funds.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 9th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend is Thursday, November 8th. RPC’s dividend payout ratio is currently 60.61%.

RPC Company Profile

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.

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Earnings History and Estimates for RPC (NYSE:RES)

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