Q1 2022 Earnings Forecast for RPC, Inc. Issued By Capital One Financial (NYSE:RES)

RPC, Inc. (NYSE:RESGet Rating) – Investment analysts at Capital One Financial upped their Q1 2022 earnings per share estimates for shares of RPC in a research report issued on Monday, April 18th. Capital One Financial analyst L. Lemoine now forecasts that the oil and gas company will post earnings of $0.08 per share for the quarter, up from their prior estimate of $0.06. Capital One Financial also issued estimates for RPC’s Q2 2022 earnings at $0.12 EPS, Q3 2022 earnings at $0.16 EPS and Q4 2022 earnings at $0.17 EPS.

RPC (NYSE:RESGet Rating) last issued its quarterly earnings results on Wednesday, January 26th. The oil and gas company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. The firm had revenue of $268.30 million during the quarter, compared to the consensus estimate of $240.32 million. RPC had a return on equity of 1.15% and a net margin of 0.83%. RPC’s revenue for the quarter was up 80.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.03) earnings per share.

Other research analysts also recently issued research reports about the company. Zacks Investment Research downgraded RPC from a “strong-buy” rating to a “hold” rating and set a $11.00 price target for the company. in a report on Tuesday, March 29th. StockNews.com assumed coverage on RPC in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Atb Cap Markets reiterated an “underperform” rating on shares of RPC in a report on Sunday. Finally, TheStreet upgraded RPC from a “d+” rating to a “c” rating in a research note on Wednesday, January 26th. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $11.00.

Shares of RES opened at $12.38 on Wednesday. The company has a market capitalization of $2.68 billion, a P/E ratio of 412.80 and a beta of 1.60. RPC has a one year low of $3.33 and a one year high of $12.91. The stock has a 50-day moving average price of $10.04 and a 200 day moving average price of $6.92.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Wedbush Securities Inc. acquired a new stake in RPC in the 1st quarter valued at about $124,000. Ellevest Inc. lifted its holdings in RPC by 107.2% in the 1st quarter. Ellevest Inc. now owns 6,494 shares of the oil and gas company’s stock valued at $69,000 after acquiring an additional 3,360 shares during the last quarter. AE Wealth Management LLC acquired a new stake in RPC in the 1st quarter valued at about $652,000. Silverleafe Capital Partners LLC acquired a new stake in RPC in the 1st quarter valued at about $192,000. Finally, Norges Bank acquired a new stake in RPC in the 4th quarter valued at about $351,000. Hedge funds and other institutional investors own 27.15% of the company’s stock.

In other news, major shareholder Rollins Holding Company, Inc. sold 365,000 shares of the company’s stock in a transaction dated Wednesday, March 16th. The shares were sold at an average price of $9.66, for a total transaction of $3,525,900.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Gary W. Rollins sold 299,785 shares of the stock in a transaction dated Thursday, March 24th. The shares were sold at an average price of $10.35, for a total transaction of $3,102,774.75. The disclosure for this sale can be found here. Insiders have sold 1,649,785 shares of company stock valued at $16,397,775 in the last 90 days. Insiders own 65.90% of the company’s stock.

RPC Company Profile (Get Rating)

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 segment offers pressure pumping, fracturing, acidizing, cementing, 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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