RPC (RES) to Release Earnings on Thursday

RPC (NYSE:RES) is set to release its earnings data before the market opens on Thursday, April 25th. Analysts expect RPC to post earnings of $0.19 per share for the quarter.

RPC (NYSE:RES) last posted its quarterly earnings data on Thursday, January 25th. The oil and gas company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.01. RPC had a net margin of 12.06% and a return on equity of 21.26%. The business had revenue of $394.50 million during the quarter, compared to analysts’ expectations of $374.22 million. During the same period last year, the firm posted $0.41 earnings per share. The business’s revenue was down 18.2% on a year-over-year basis. On average, analysts expect RPC to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

RPC Price Performance

Shares of NYSE:RES opened at $7.65 on Thursday. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 8.50 and a beta of 1.60. RPC has a 12 month low of $6.34 and a 12 month high of $9.41. The stock’s 50 day moving average price is $7.54 and its 200 day moving average price is $7.55.

RPC Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 9th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 2.09%. The ex-dividend date was Thursday, February 8th. RPC’s dividend payout ratio (DPR) is presently 17.78%.

Analysts Set New Price Targets

Separately, Susquehanna raised their target price on RPC from $6.50 to $8.00 and gave the company a “neutral” rating in a research note on Monday, April 8th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in shares of RPC by 1.7% in the second quarter. BlackRock Inc. now owns 13,174,505 shares of the oil and gas company’s stock worth $94,198,000 after acquiring an additional 223,877 shares in the last quarter. Vanguard Group Inc. boosted its stake in RPC by 14.0% in the 3rd quarter. Vanguard Group Inc. now owns 9,644,518 shares of the oil and gas company’s stock worth $66,838,000 after purchasing an additional 1,180,773 shares during the period. Dimensional Fund Advisors LP grew its position in RPC by 17.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,917,560 shares of the oil and gas company’s stock worth $45,505,000 after purchasing an additional 866,947 shares in the last quarter. Millennium Management LLC raised its stake in RPC by 26.2% during the 4th quarter. Millennium Management LLC now owns 4,168,372 shares of the oil and gas company’s stock valued at $37,057,000 after purchasing an additional 866,566 shares during the period. Finally, State Street Corp lifted its holdings in shares of RPC by 21.4% in the second quarter. State Street Corp now owns 4,014,594 shares of the oil and gas company’s stock valued at $27,741,000 after purchasing an additional 708,058 shares in the last quarter. Institutional investors and hedge funds own 41.06% of the company’s stock.

About RPC

RPC, Inc, through its subsidiaries, engages provision of 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.