RPC (RES) Scheduled to Post Quarterly Earnings on Tuesday

RPC (NYSE:RES) is set to issue its quarterly earnings data before the market opens on Tuesday, April 24th. Analysts expect the company to announce earnings of $0.38 per share for the quarter.

RPC (NYSE:RES) last released its quarterly earnings results on Wednesday, January 24th. The oil and gas company reported $0.18 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.16). RPC had a return on equity of 16.90% and a net margin of 10.19%. The business had revenue of $427.30 million during the quarter, compared to analyst estimates of $515.04 million. During the same quarter last year, the firm posted ($0.10) EPS. The company’s revenue was up 93.3% compared to the same quarter last year. On average, analysts expect RPC to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

NYSE:RES opened at $18.45 on Tuesday. RPC has a one year low of $16.70 and a one year high of $27.07. The stock has a market capitalization of $3,939.95, a P/E ratio of 27.95, a price-to-earnings-growth ratio of 0.62 and a beta of 0.83.

RPC declared that its board has approved a stock buyback program on Monday, February 12th that allows the company to repurchase 10,000,000 outstanding shares. This repurchase authorization allows the oil and gas company to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Several research analysts recently commented on RES shares. B. Riley cut RPC from a “buy” rating to a “hold” rating and set a $27.00 price target on the stock. in a research note on Thursday, December 28th. Guggenheim set a $25.00 price target on RPC and gave the stock a “buy” rating in a research note on Monday, January 29th. Stephens started coverage on RPC in a research note on Tuesday, January 9th. They issued an “equal weight” rating and a $28.00 price target on the stock. Wells Fargo reiterated a “market perform” rating on shares of RPC in a research note on Friday, January 12th. Finally, Zacks Investment Research upgraded RPC from a “hold” rating to a “strong-buy” rating and set a $29.00 price target on the stock in a research note on Thursday, January 4th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $23.50.

An institutional investor recently raised its position in RPC stock. The Manufacturers Life Insurance Company boosted its position in RPC, Inc. (NYSE:RES) by 7.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,514 shares of the oil and gas company’s stock after buying an additional 459 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in RPC were worth $132,000 at the end of the most recent quarter. 34.55% of the stock is currently owned by institutional investors and hedge funds.

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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.

Earnings History for RPC (NYSE:RES)

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