RPC, Inc. (NYSE:RES) – Research analysts at Piper Sandler increased their Q2 2020 earnings per share (EPS) estimates for RPC in a report released on Wednesday, June 24th. Piper Sandler analyst I. Macpherson now forecasts that the oil and gas company will post earnings per share of ($0.15) for the quarter, up from their prior estimate of ($0.16). Piper Sandler currently has a “Neutral” rating and a $3.10 price target on the stock. Piper Sandler also issued estimates for RPC’s Q3 2020 earnings at ($0.12) EPS, Q4 2020 earnings at ($0.10) EPS, Q1 2021 earnings at ($0.09) EPS, Q2 2021 earnings at ($0.07) EPS, Q3 2021 earnings at ($0.06) EPS, Q4 2021 earnings at ($0.06) EPS, FY2021 earnings at ($0.28) EPS and FY2022 earnings at $0.03 EPS.

A number of other research firms have also recently issued reports on RES. ValuEngine raised RPC from a “hold” rating to a “buy” rating in a research report on Friday, May 1st. Morgan Stanley cut RPC from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $6.00 to $2.50 in a research report on Monday, March 16th. Scotiabank raised RPC from an “underperform” rating to a “sector perform” rating and set a $3.00 price objective for the company in a research report on Sunday, April 12th. Citigroup raised their price objective on RPC from $1.90 to $2.30 and gave the company a “sell” rating in a research report on Thursday, May 21st. Finally, Raymond James reaffirmed an “outperform” rating and issued a $4.00 price objective (up from $3.00) on shares of RPC in a research report on Thursday, May 7th. Five analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $3.56.

RES opened at $3.06 on Monday. RPC has a 12-month low of $1.72 and a 12-month high of $7.53. The stock has a market cap of $663.00 million, a price-to-earnings ratio of -2.62 and a beta of 2.14. The business has a 50 day moving average of $3.31 and a 200-day moving average of $3.56. The company has a quick ratio of 3.24, a current ratio of 4.06 and a debt-to-equity ratio of 0.04.

RPC (NYSE:RES) last posted its quarterly earnings results on Wednesday, May 6th. The oil and gas company reported ($0.04) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.02. The firm had revenue of $243.80 million during the quarter, compared to the consensus estimate of $123.06 million. RPC had a negative return on equity of 4.24% and a negative net margin of 21.81%. The firm’s quarterly revenue was down 27.2% on a year-over-year basis.

A number of large investors have recently added to or reduced their stakes in the stock. Marshall Wace North America L.P. acquired a new stake in RPC during the 1st quarter worth approximately $25,000. Horizon Kinetics Asset Management LLC raised its holdings in RPC by 8.0% in the 1st quarter. Horizon Kinetics Asset Management LLC now owns 62,478 shares of the oil and gas company’s stock valued at $129,000 after acquiring an additional 4,649 shares in the last quarter. Swiss National Bank raised its holdings in RPC by 4.1% in the 1st quarter. Swiss National Bank now owns 124,800 shares of the oil and gas company’s stock valued at $257,000 after acquiring an additional 4,900 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in RPC by 18.1% in the 1st quarter. State of Alaska Department of Revenue now owns 45,894 shares of the oil and gas company’s stock valued at $94,000 after acquiring an additional 7,020 shares in the last quarter. Finally, Ancora Advisors LLC acquired a new position in RPC in the 4th quarter valued at $39,000. 30.24% of the stock is owned by institutional investors and hedge funds.

RPC Company Profile

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.

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Earnings History and Estimates for RPC (NYSE:RES)

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