Piper Jaffray Companies Weighs in on RPC, Inc.’s Q2 2019 Earnings (NYSE:RES)

RPC, Inc. (NYSE:RES) – Piper Jaffray Companies dropped their Q2 2019 earnings per share estimates for shares of RPC in a research report issued to clients and investors on Monday, June 24th, according to Zacks Investment Research. Piper Jaffray Companies analyst J. Daniel now forecasts that the oil and gas company will post earnings of $0.05 per share for the quarter, down from their prior estimate of $0.06. Piper Jaffray Companies also issued estimates for RPC’s Q3 2019 earnings at $0.06 EPS and Q3 2020 earnings at $0.07 EPS.

Several other research analysts have also recently issued reports on RES. Morgan Stanley set a $207.00 target price on shares of Alibaba Group and gave the stock a “buy” rating in a report on Friday, July 12th. Bank of America upgraded Air Products & Chemicals from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $170.00 to $215.00 in a research report on Thursday, April 25th. ValuEngine cut Verso from a “hold” rating to a “sell” rating in a research report on Thursday, May 23rd. Susquehanna Bancshares set a $70.00 price objective on Helmerich & Payne and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Finally, Citigroup reiterated a “buy” rating and set a $25.00 price objective on shares of Propetro in a research report on Tuesday, July 2nd. Nine research analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $12.28.

RES stock traded down $0.11 during trading on Wednesday, hitting $6.11. The company had a trading volume of 1,924,582 shares, compared to its average volume of 1,857,700. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of 7.45, a P/E/G ratio of 6.62 and a beta of 1.06. RPC has a 52-week low of $5.95 and a 52-week high of $17.24. The firm has a 50 day moving average of $7.08. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.53 and a quick ratio of 2.77.

RPC (NYSE:RES) last announced its earnings results on Wednesday, April 24th. The oil and gas company reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.05). RPC had a net margin of 7.57% and a return on equity of 11.99%. The firm had revenue of $334.70 million during the quarter, compared to analysts’ expectations of $351.95 million. During the same period in the prior year, the company posted $0.24 EPS. The company’s revenue was down 23.3% compared to the same quarter last year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Virginia Retirement Systems ET AL lifted its holdings in shares of RPC by 10.2% during the 4th quarter. Virginia Retirement Systems ET AL now owns 36,800 shares of the oil and gas company’s stock worth $363,000 after acquiring an additional 3,400 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of RPC by 19.8% during the fourth quarter. First Trust Advisors LP now owns 1,123,657 shares of the oil and gas company’s stock worth $11,090,000 after purchasing an additional 185,570 shares during the period. LPL Financial LLC lifted its holdings in shares of RPC by 26.6% during the fourth quarter. LPL Financial LLC now owns 12,756 shares of the oil and gas company’s stock worth $126,000 after purchasing an additional 2,680 shares during the period. Bbva Compass Bancshares Inc. lifted its holdings in shares of RPC by 22.5% during the fourth quarter. Bbva Compass Bancshares Inc. now owns 21,549 shares of the oil and gas company’s stock worth $213,000 after purchasing an additional 3,951 shares during the period. Finally, California Public Employees Retirement System lifted its holdings in shares of RPC by 9.9% during the fourth quarter. California Public Employees Retirement System now owns 185,171 shares of the oil and gas company’s stock worth $1,828,000 after purchasing an additional 16,726 shares during the period. 31.94% of the stock is owned by institutional investors.

RPC Company Profile

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 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.

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