RPC, Inc. (NYSE:RES) Expected to Earn FY2022 Earnings of $0.53 Per Share

RPC, Inc. (NYSE:RESGet Rating) – Equities research analysts at Capital One Financial boosted their FY2022 EPS estimates for RPC in a research report issued to clients and investors on Monday, April 18th. Capital One Financial analyst L. Lemoine now forecasts that the oil and gas company will post earnings of $0.53 per share for the year, up from their prior estimate of $0.36. Capital One Financial also issued estimates for RPC’s Q1 2023 earnings at $0.17 EPS, Q2 2023 earnings at $0.19 EPS, Q3 2023 earnings at $0.21 EPS, Q4 2023 earnings at $0.20 EPS and FY2023 earnings at $0.77 EPS.

Several other equities analysts have also issued reports on RES. StockNews.com initiated coverage on RPC in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Atb Cap Markets reissued an “underperform” rating on shares of RPC in a report on Sunday. TheStreet raised RPC from a “d+” rating to a “c” rating in a report on Wednesday, January 26th. Finally, Zacks Investment Research downgraded RPC from a “strong-buy” rating to a “hold” rating and set a $11.00 price objective on the stock. in a research note on Tuesday, March 29th. One equities research 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 has an average rating of “Hold” and a consensus price target of $11.00.

RPC stock opened at $12.55 on Thursday. The stock’s fifty day moving average price is $10.15 and its two-hundred day moving average price is $6.96. RPC has a one year low of $3.33 and a one year high of $12.91. The firm has a market cap of $2.72 billion, a PE ratio of 418.47 and a beta of 1.60.

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

In other RPC news, Director Gary W. Rollins sold 500,000 shares of the stock in a transaction on Thursday, March 17th. The stock was sold at an average price of $9.86, for a total transaction of $4,930,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Lor Inc sold 70,000 shares of the company’s stock in a transaction on Thursday, March 24th. The stock was sold at an average price of $10.20, for a total transaction of $714,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,649,785 shares of company stock worth $16,397,775. Company insiders own 65.90% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in RES. Marshall Wace North America L.P. bought a new position in RPC in the first quarter valued at $25,000. Royal Bank of Canada increased its stake in RPC by 594.9% in the second quarter. Royal Bank of Canada now owns 5,754 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 4,926 shares during the last quarter. Lindbrook Capital LLC increased its stake in RPC by 48.5% in the first quarter. Lindbrook Capital LLC now owns 2,788 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 911 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in RPC by 45.9% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 8,463 shares of the oil and gas company’s stock valued at $41,000 after acquiring an additional 2,663 shares during the last quarter. Finally, Teacher Retirement System of Texas bought a new position in RPC in the third quarter valued at $51,000. 27.15% of the stock is currently owned by hedge funds and other institutional investors.

About RPC (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.

See Also

Earnings History and Estimates for RPC (NYSE:RES)

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