FY2022 EPS Estimates for RPC, Inc. (NYSE:RES) Boosted by Capital One Financial

RPC, Inc. (NYSE:RES – Get Rating) – Stock analysts at Capital One Financial lifted their FY2022 earnings per share estimates for shares of 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 per share of $0.53 for the year, up from their previous 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.

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

Other equities analysts have also recently issued reports about the company. TheStreet upgraded RPC from a “d+” rating to a “c” rating in a research report on Wednesday, January 26th. StockNews.com started coverage on RPC in a research report on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research cut RPC from a “strong-buy” rating to a “hold” rating and set a $11.00 target price for the company. in a research report on Tuesday, March 29th. Finally, Atb Cap Markets reaffirmed an “underperform” rating on shares of RPC in a research note on Sunday, April 17th. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the stock. According to MarketBeat, RPC has a consensus rating of “Hold” and an average price target of $11.00.

RPC stock opened at $10.99 on Thursday. RPC has a 52 week low of $3.33 and a 52 week high of $12.91. The business has a 50-day simple moving average of $10.28 and a 200 day simple moving average of $7.03. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of 366.46 and a beta of 1.60.

In other RPC news, Director Gary W. Rollins sold 500,000 shares of RPC stock in a transaction dated Thursday, March 17th. The stock was sold at an average price of $9.86, for a total transaction of $4,930,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Rollins Holding Company, Inc. sold 365,000 shares of RPC stock in a transaction dated Wednesday, March 16th. The stock was sold at an average price of $9.66, for a total value of $3,525,900.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,649,785 shares of company stock valued at $16,397,775. Corporate insiders own 65.90% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RES. Marshall Wace North America L.P. bought a new stake in shares of RPC in the 1st quarter valued at about $25,000. Royal Bank of Canada raised its position in 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 valued at $28,000 after purchasing an additional 4,926 shares during the last quarter. Lindbrook Capital LLC raised its position in RPC by 48.5% during the 1st 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 raised its position in 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 valued at $41,000 after purchasing an additional 2,663 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new position in shares of RPC during the 3rd quarter worth approximately $51,000. 27.15% of the stock is owned by 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.

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