B. Riley Brokers Reduce Earnings Estimates for RPC, Inc. (RES)
RPC, Inc. (NYSE:RES) – Equities researchers at B. Riley decreased their FY2017 EPS estimates for RPC in a research report issued to clients and investors on Tuesday. B. Riley analyst T. Curran 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 $0.84. B. Riley currently has a “Buy” rating and a $27.00 target price on the stock.
RPC (NYSE:RES) last posted its quarterly earnings data on Wednesday, October 25th. The oil and gas company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.03). RPC had a return on equity of 10.31% and a net margin of 6.03%. The company had revenue of $471.00 million for the quarter, compared to analyst estimates of $474.41 million. During the same period in the previous year, the business posted ($0.18) earnings per share. The firm’s revenue was up 167.8% compared to the same quarter last year.
Other analysts have also recently issued reports about the company. Cowen and Company increased their price objective on RPC from $20.00 to $24.00 and gave the stock a “market perform” rating in a research report on Thursday, July 27th. Jefferies Group LLC set a $25.00 price objective on RPC and gave the stock a “hold” rating in a research report on Thursday, October 26th. TheStreet raised RPC from a “c+” rating to a “b” rating in a research report on Wednesday, October 25th. Zacks Investment Research cut RPC from a “buy” rating to a “hold” rating in a research report on Saturday, October 28th. Finally, Raymond James Financial, Inc. cut RPC from a “strong-buy” rating to an “outperform” rating in a research report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $24.23.
Shares of RPC (NYSE:RES) opened at $23.30 on Friday. RPC has a 1 year low of $16.63 and a 1 year high of $26.45. The firm has a market capitalization of $5,050.00, a P/E ratio of 59.59, a price-to-earnings-growth ratio of 1.60 and a beta of 1.16.
A number of institutional investors have recently added to or reduced their stakes in the business. Alliancebernstein L.P. increased its position in RPC by 58.4% during the second quarter. Alliancebernstein L.P. now owns 9,040,717 shares of the oil and gas company’s stock worth $182,713,000 after buying an additional 3,333,619 shares in the last quarter. Vanguard Group Inc. increased its position in RPC by 20.4% during the second quarter. Vanguard Group Inc. now owns 6,076,306 shares of the oil and gas company’s stock worth $122,802,000 after buying an additional 1,028,001 shares in the last quarter. Bank of New York Mellon Corp increased its position in RPC by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 2,167,567 shares of the oil and gas company’s stock worth $43,807,000 after buying an additional 16,785 shares in the last quarter. Victory Capital Management Inc. increased its position in RPC by 244.9% during the third quarter. Victory Capital Management Inc. now owns 2,066,941 shares of the oil and gas company’s stock worth $51,239,000 after buying an additional 1,467,661 shares in the last quarter. Finally, Alyeska Investment Group L.P. purchased a new position in RPC during the third quarter worth $47,921,000. 38.08% of the stock is owned by institutional investors.
In other news, Director Amy Rollins Kreisler acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was purchased at an average cost of $23.21 per share, with a total value of $116,050.00. Following the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $116,050. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 73.50% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 10th will be paid a $0.07 dividend. This is an increase from RPC’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 1.20%. The ex-dividend date is Thursday, November 9th. RPC’s dividend payout ratio (DPR) is presently 73.68%.
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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