Capital One Financial Analysts Reduce Earnings Estimates for RPC, Inc. (NYSE:RES)

RPC, Inc. (NYSE:RES – Get Rating) – Analysts at Capital One Financial reduced their Q2 2022 earnings per share estimates for shares of RPC in a research report issued to clients and investors on Wednesday, April 27th. Capital One Financial analyst L. Lemoine now expects that the oil and gas company will earn $0.10 per share for the quarter, down from their prior estimate of $0.12. Capital One Financial also issued estimates for RPC’s Q3 2022 earnings at $0.15 EPS, Q4 2022 earnings at $0.15 EPS, FY2022 earnings at $0.47 EPS, Q1 2023 earnings at $0.15 EPS, Q2 2023 earnings at $0.18 EPS, Q3 2023 earnings at $0.19 EPS, Q4 2023 earnings at $0.19 EPS and FY2023 earnings at $0.72 EPS. RPC (NYSE:RES – Get Rating) last issued its quarterly earnings data on Wednesday, April 27th. The oil and gas company reported $0.07 earnings per share for the quarter, hitting the consensus estimate of $0.07. RPC had a return on equity of 5.00% and a net margin of 3.31%. The company had revenue of $284.60 million during the quarter, compared to analyst estimates of $286.68 million. During the same period in the prior year, the business posted ($0.05) earnings per share. The firm’s revenue for the quarter was up 55.9% compared to the same quarter last year.

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A number of other equities analysts have also issued reports on RES. TheStreet raised RPC from a “d+” rating to a “c” rating in a report on Wednesday, January 26th. Johnson Rice upgraded shares of RPC from a “hold” rating to an “accumulate” rating and set a $13.00 price target for the company in a research report on Wednesday, April 27th. Atb Cap Markets reiterated an “underperform” rating on shares of RPC in a research report on Sunday, April 17th. StockNews.com started coverage on RPC in a research report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Zacks Investment Research cut shares of RPC from a “strong-buy” rating to a “hold” rating and set a $11.00 price objective for the company. in a research note on Tuesday, March 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $12.00.

RPC stock opened at $10.34 on Monday. The stock’s fifty day moving average is $10.53 and its two-hundred day moving average is $7.23. RPC has a 1-year low of $3.33 and a 1-year high of $12.91. The stock has a market cap of $2.24 billion, a PE ratio of 68.94 and a beta of 1.60.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Marshall Wace North America L.P. bought a new position in shares of RPC in the first quarter worth about $25,000. Royal Bank of Canada increased its holdings in shares of 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 purchasing an additional 4,926 shares during the last quarter. Lindbrook Capital LLC increased its holdings in shares of 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 purchasing an additional 911 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of 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 in the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in RPC by 170.6% during the first 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 in the last quarter. Institutional investors own 27.15% of the company’s stock.

In other RPC news, major shareholder Rollins Holding Company, Inc. sold 365,000 shares of the stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $9.66, for a total value of $3,525,900.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Lor Inc sold 70,000 shares of the stock in a transaction that occurred 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. Insiders have sold 1,649,785 shares of company stock valued at $16,397,775 over the last 90 days. 65.90% of the stock is currently owned by insiders.

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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