Gabelli Comments on RPC, Inc.’s FY2019 Earnings (RES)

RPC, Inc. (NYSE:RES) – Equities research analysts at Gabelli reduced their FY2019 earnings per share (EPS) estimates for shares of RPC in a report issued on Thursday, October 25th. Gabelli analyst S. Wong now forecasts that the oil and gas company will post earnings per share of $0.85 for the year, down from their prior forecast of $0.95. Gabelli also issued estimates for RPC’s FY2022 earnings at $1.35 EPS.

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

Several other analysts also recently weighed in on the stock. Citigroup cut their price objective on shares of RPC from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Friday, September 14th. SunTrust Banks downgraded shares of RPC from a “buy” rating to a “hold” rating and cut their price objective for the company from $25.00 to $16.00 in a research report on Thursday, August 30th. Stifel Nicolaus initiated coverage on shares of RPC in a research report on Monday, September 10th. They issued a “hold” rating and a $15.00 price objective on the stock. Credit Suisse Group cut their price objective on shares of RPC from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, July 26th. Finally, Morgan Stanley set a $14.00 price objective on shares of RPC and gave the company a “sell” rating in a research report on Thursday, October 11th. Three analysts have rated the stock with a sell rating and seventeen have given a hold rating to the stock. RPC currently has a consensus rating of “Hold” and an average target price of $17.35.

Shares of NYSE:RES opened at $14.13 on Monday. The stock has a market capitalization of $3.09 billion, a P/E ratio of 21.86, a PEG ratio of 0.84 and a beta of 0.84. RPC has a fifty-two week low of $12.96 and a fifty-two week high of $27.07.

Institutional investors have recently added to or reduced their stakes in the business. NumerixS Investment Technologies Inc increased its stake in RPC by 101.1% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 10,861 shares of the oil and gas company’s stock valued at $159,000 after buying an additional 5,461 shares during the period. Quantitative Systematic Strategies LLC acquired a new position in RPC during the 2nd quarter valued at about $169,000. BlueMountain Capital Management LLC increased its stake in RPC by 484.4% during the 2nd quarter. BlueMountain Capital Management LLC now owns 12,833 shares of the oil and gas company’s stock valued at $187,000 after buying an additional 10,637 shares during the period. Point72 Hong Kong Ltd increased its stake in RPC by 682.3% during the 2nd quarter. Point72 Hong Kong Ltd now owns 13,667 shares of the oil and gas company’s stock valued at $199,000 after buying an additional 11,920 shares during the period. Finally, WINTON GROUP Ltd acquired a new position in RPC during the 2nd quarter valued at about $206,000. 31.83% of the stock is currently owned by hedge funds and other institutional investors.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 9th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $0.40 annualized dividend and a yield of 2.83%. RPC’s payout ratio is 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.

See Also: What is intrinsic value?

Earnings History and Estimates for RPC (NYSE:RES)

Receive News & Ratings for RPC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RPC and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply