RPC, Inc. (RES) Expected to Post Earnings of $0.31 Per Share

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Wall Street analysts predict that RPC, Inc. (NYSE:RES) will announce $0.31 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for RPC’s earnings, with estimates ranging from $0.24 to $0.37. RPC posted earnings of $0.20 per share during the same quarter last year, which would suggest a positive year over year growth rate of 55%. The company is expected to announce its next earnings report on Wednesday, July 25th.

According to Zacks, analysts expect that RPC will report full year earnings of $1.26 per share for the current fiscal year, with EPS estimates ranging from $1.00 to $1.40. For the next financial year, analysts anticipate that the business will post earnings of $1.44 per share, with EPS estimates ranging from $1.02 to $1.80. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for RPC.

RPC (NYSE:RES) last released its quarterly earnings data on Wednesday, April 25th. The oil and gas company reported $0.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.04). RPC had a net margin of 12.17% and a return on equity of 22.05%. The business had revenue of $436.33 million during the quarter, compared to analyst estimates of $461.47 million. During the same period in the previous year, the business earned $0.02 earnings per share. The business’s quarterly revenue was up 46.4% on a year-over-year basis.

A number of research firms have recently issued reports on RES. Cowen reaffirmed a “hold” rating and issued a $19.00 price objective on shares of RPC in a research report on Friday, April 13th. Jefferies Group reaffirmed a “hold” rating and issued a $19.00 price objective on shares of RPC in a research report on Wednesday, April 4th. Zacks Investment Research cut RPC from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 3rd. BMO Capital Markets set a $23.00 price objective on RPC and gave the company a “buy” rating in a research report on Tuesday, April 10th. Finally, TheStreet cut RPC from a “b-” rating to a “c+” rating in a research report on Monday, April 16th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $23.03.

In other RPC news, CFO Ben M. Palmer sold 13,500 shares of the firm’s stock in a transaction on Thursday, May 17th. The stock was sold at an average price of $20.03, for a total transaction of $270,405.00. Following the transaction, the chief financial officer now owns 631,632 shares in the company, valued at approximately $12,651,588.96. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Ben M. Palmer sold 3,500 shares of the firm’s stock in a transaction on Thursday, May 10th. The stock was sold at an average price of $19.27, for a total value of $67,445.00. Following the transaction, the chief financial officer now owns 645,132 shares in the company, valued at approximately $12,431,693.64. The disclosure for this sale can be found here. 73.50% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. increased its stake in RPC by 3.8% during the 4th quarter. BlackRock Inc. now owns 3,022,697 shares of the oil and gas company’s stock worth $77,170,000 after acquiring an additional 111,534 shares during the period. Victory Capital Management Inc. increased its stake in RPC by 8.7% during the 1st quarter. Victory Capital Management Inc. now owns 2,106,063 shares of the oil and gas company’s stock worth $37,972,000 after acquiring an additional 169,333 shares during the period. Mackenzie Financial Corp increased its stake in RPC by 25.1% during the 4th quarter. Mackenzie Financial Corp now owns 2,038,483 shares of the oil and gas company’s stock worth $52,042,000 after acquiring an additional 408,900 shares during the period. Van ECK Associates Corp increased its stake in RPC by 11.3% during the 1st quarter. Van ECK Associates Corp now owns 2,021,011 shares of the oil and gas company’s stock worth $36,439,000 after acquiring an additional 204,982 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in RPC by 29.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,506,058 shares of the oil and gas company’s stock worth $27,154,000 after acquiring an additional 344,919 shares during the period. Hedge funds and other institutional investors own 36.61% of the company’s stock.

Shares of RES traded down $0.06 during mid-day trading on Thursday, reaching $15.16. The company’s stock had a trading volume of 3,501,900 shares, compared to its average volume of 1,804,801. RPC has a 1-year low of $14.96 and a 1-year high of $27.07. The stock has a market cap of $3.35 billion, a price-to-earnings ratio of 22.97, a PEG ratio of 0.68 and a beta of 0.84.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 11th. Stockholders of record on Thursday, May 10th will be paid a dividend of $0.10 per share. The ex-dividend date is Wednesday, May 9th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.64%. RPC’s dividend payout ratio (DPR) is currently 60.61%.

RPC declared that its Board of Directors has authorized a share buyback program on Monday, February 12th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the oil and gas company to buy shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

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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