RPC (NYSE:RES – Get Rating) posted its quarterly earnings data on Wednesday. The oil and gas company reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.12, RTT News reports. RPC had a return on equity of 20.68% and a net margin of 10.35%. The business had revenue of $482.00 million for the quarter, compared to analyst estimates of $462.37 million. During the same quarter last year, the company earned $0.06 earnings per share. The business's revenue for the quarter was up 79.6% compared to the same quarter last year.
RPC Stock Performance
RES opened at $8.59 on Wednesday. RPC has a 1 year low of $5.38 and a 1 year high of $12.91. The company's 50 day simple moving average is $8.95 and its 200 day simple moving average is $8.33. The stock has a market capitalization of $1.86 billion, a PE ratio of 12.82 and a beta of 1.69.
Get RPC alerts:RPC Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 10th. Stockholders of record on Friday, February 10th will be issued a dividend of $0.04 per share. This is a positive change from RPC's previous quarterly dividend of $0.02. This represents a $0.16 annualized dividend and a dividend yield of 1.86%. RPC's dividend payout ratio is presently 11.94%.
Analyst Ratings Changes
Separately, StockNews.com raised shares of RPC from a "hold" rating to a "buy" rating in a research note on Wednesday, January 18th. One investment analyst has rated the stock with a sell rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $11.50.Insider Buying and Selling
In other news, major shareholder Lor Inc sold 316,632 shares of the business's stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $10.65, for a total transaction of $3,372,130.80. Following the completion of the sale, the insider now directly owns 572,610 shares of the company's stock, valued at approximately $6,098,296.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Lor Inc sold 316,632 shares of RPC stock in a transaction dated Wednesday, November 2nd. The stock was sold at an average price of $10.65, for a total value of $3,372,130.80. Following the transaction, the insider now directly owns 572,610 shares of the company's stock, valued at approximately $6,098,296.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Pam R. Rollins sold 120,000 shares of the stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $10.42, for a total transaction of $1,250,400.00. Following the sale, the director now directly owns 194,951 shares of the company's stock, valued at approximately $2,031,389.42. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,064,193 shares of company stock valued at $11,197,202. Insiders own 65.90% of the company's stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio lifted its position in RPC by 54.2% during the third quarter. Public Employees Retirement System of Ohio now owns 4,565 shares of the oil and gas company's stock valued at $32,000 after buying an additional 1,605 shares in the last quarter. Teachers Retirement System of The State of Kentucky acquired a new position in RPC during the third quarter valued at approximately $50,000. Point72 Hong Kong Ltd acquired a new position in RPC during the second quarter valued at approximately $51,000. Captrust Financial Advisors lifted its position in RPC by 20.6% during the first quarter. Captrust Financial Advisors now owns 9,037 shares of the oil and gas company's stock valued at $96,000 after buying an additional 1,545 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in shares of RPC by 2,200.9% during the third quarter. Royal Bank of Canada now owns 10,009 shares of the oil and gas company's stock worth $69,000 after purchasing an additional 9,574 shares in the last quarter. 27.15% of the stock is owned by institutional investors and hedge funds.
About RPC
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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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