RPC, Inc. (NYSE:RES) Expected to Announce Quarterly Sales of $322.10 Million

Analysts forecast that RPC, Inc. (NYSE:RES – Get Rating) will post $322.10 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for RPC’s earnings, with the highest sales estimate coming in at $334.90 million and the lowest estimate coming in at $315.00 million. RPC posted sales of $188.76 million during the same quarter last year, which suggests a positive year-over-year growth rate of 70.6%. The company is scheduled to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that RPC will report full year sales of $1.32 billion for the current year, with estimates ranging from $1.29 billion to $1.35 billion. For the next year, analysts expect that the company will report sales of $1.55 billion, with estimates ranging from $1.45 billion to $1.61 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow RPC.

RPC (NYSE:RES – Get Rating) last announced its quarterly earnings data on Wednesday, April 27th. The oil and gas company reported $0.07 EPS for the quarter, hitting analysts’ consensus estimates of $0.07. The firm had revenue of $284.60 million during the quarter, compared to analyst estimates of $286.68 million. RPC had a return on equity of 5.00% and a net margin of 3.31%. The company’s revenue was up 55.9% on a year-over-year basis. During the same period last year, the company earned ($0.05) earnings per share.

RES has been the subject of several research analyst reports. TheStreet upgraded RPC from a “d+” rating to a “c” rating in a research report on Wednesday, January 26th. Johnson Rice upgraded RPC from a “hold” rating to an “accumulate” rating and set a $13.00 price objective on the stock in a research note on Wednesday, April 27th. Zacks Investment Research cut 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. StockNews.com initiated coverage on RPC in a report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Atb Cap Markets reissued an “underperform” rating on shares of RPC in a report on Sunday, April 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $12.00.

In other news, Director Gary W. Rollins sold 299,785 shares of the stock in a transaction on Thursday, March 24th. The stock was sold at an average price of $10.35, for a total transaction of $3,102,774.75. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 value of $4,930,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,649,785 shares of company stock worth $16,397,775. Insiders own 65.90% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marshall Wace North America L.P. acquired a new stake in shares of RPC during the 1st quarter worth $25,000. Royal Bank of Canada grew its holdings in shares of RPC by 594.9% during the 2nd quarter. Royal Bank of Canada now owns 5,754 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 4,926 shares in the last quarter. Lindbrook Capital LLC grew its holdings in shares of RPC by 48.5% during the 1st quarter. Lindbrook Capital LLC now owns 2,788 shares of the oil and gas company’s stock worth $30,000 after purchasing an additional 911 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its holdings in shares of RPC by 45.9% during the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 8,463 shares of the oil and gas company’s stock worth $41,000 after purchasing an additional 2,663 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in shares of RPC by 170.6% during the 1st quarter. Nisa Investment Advisors LLC now owns 4,600 shares of the oil and gas company’s stock worth $49,000 after buying an additional 2,900 shares during the last quarter. 27.15% of the stock is currently owned by institutional investors.

RPC stock opened at $9.08 on Friday. The firm has a market capitalization of $1.97 billion, a P/E ratio of 60.54 and a beta of 1.51. RPC has a 1 year low of $3.33 and a 1 year high of $12.91. The business has a 50-day moving average of $10.72 and a 200-day moving average of $7.44.

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.

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