RPC, Inc. (NYSE:RES) – Research analysts at Jefferies Group reduced their FY2019 EPS estimates for RPC in a report issued on Wednesday, April 4th. Jefferies Group analyst B. Handler now anticipates that the oil and gas company will earn $1.60 per share for the year, down from their prior estimate of $1.90. Jefferies Group currently has a “Hold” rating and a $19.00 target price on the stock. Jefferies Group also issued estimates for RPC’s FY2020 earnings at $1.90 EPS.
RPC (NYSE:RES) last released its earnings results on Wednesday, January 24th. The oil and gas company reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.16). The business had revenue of $427.30 million for the quarter, compared to the consensus estimate of $515.04 million. RPC had a return on equity of 16.90% and a net margin of 10.19%. The company’s revenue for the quarter was up 93.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.10) earnings per share.
NYSE RES opened at $17.21 on Friday. The firm has a market cap of $3,959.46, a PE ratio of 26.08, a price-to-earnings-growth ratio of 0.62 and a beta of 0.83. RPC has a one year low of $16.87 and a one year high of $27.07.
A number of hedge funds have recently bought and sold shares of RES. Alyeska Investment Group L.P. purchased a new position in RPC during the 3rd quarter valued at about $47,921,000. Arosa Capital Management LP grew its holdings in RPC by 343.3% during the 4th quarter. Arosa Capital Management LP now owns 1,038,876 shares of the oil and gas company’s stock valued at $26,523,000 after buying an additional 804,541 shares in the last quarter. Mackenzie Financial Corp grew its holdings 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 valued at $52,042,000 after buying an additional 408,900 shares in the last quarter. First Trust Advisors LP grew its holdings in RPC by 109.5% during the 4th quarter. First Trust Advisors LP now owns 322,447 shares of the oil and gas company’s stock valued at $8,232,000 after buying an additional 168,570 shares in the last quarter. Finally, First Quadrant L P CA purchased a new position in RPC during the 4th quarter valued at about $3,420,000. 35.32% of the stock is owned by institutional investors and hedge funds.
The business also recently announced a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Friday, February 9th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend was Thursday, February 8th. This is a positive change from RPC’s previous quarterly dividend of $0.07. RPC’s payout ratio is presently 60.61%.
RPC declared that its board has authorized a share buyback plan on Monday, February 12th that authorizes the company to buyback 10,000,000 shares. This buyback authorization authorizes the oil and gas company to buy shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
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RPC Company Profile
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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