RES - RPC, Inc.

NYSE - NYSE Delayed Price. Currency in USD
3.8300
0.0000 (0.00%)
At close: 4:01PM EST
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Previous Close3.8300
Open3.8200
Bid3.5500 x 2900
Ask3.7700 x 4000
Day's Range3.7850 - 3.8800
52 Week Range3.7300 - 14.7600
Volume1,342,654
Avg. Volume2,392,392
Market Cap821.535M
Beta (3Y Monthly)1.09
PE Ratio (TTM)N/A
EPS (TTM)-0.2390
Earnings DateJan. 21, 2020 - Jan. 27, 2020
Forward Dividend & Yield0.20 (4.85%)
Ex-Dividend Date2019-05-09
1y Target Est4.58
  • Frackers Scrap Idled Equipment Amid Shale Drilling Pullback
    Bloomberg

    Frackers Scrap Idled Equipment Amid Shale Drilling Pullback

    (Bloomberg) -- The downturn in shale drilling has been so steep and brisk that oilfield companies are taking the unprecedented step of scrapping entire fleets of fracking gear.With almost half of U.S. fracking firepower expected to be sitting idle within weeks, shale specialists including Patterson-UTI Energy Inc. and RPC Inc. are retiring truck-mounted pumping units and other equipment used to shatter oil-soaked shale rock. Whereas in previous market slumps, frackers parked unused equipment to await a revival in demand, this time it’s different: Gear is being stripped down for parts or sold for scrap.As stagnant oil prices and investor pressure discourage new drilling, the fracking industry that was growing so fast it couldn’t find enough workers as recently as two years ago now finds itself buried in a mountain of pumps, pipes and storage tanks. The contagion is spreading beyond fracking specialists to sand miners and the truckers who haul it. U.S. Silica Holdings Inc., the top supplier of frack sand, tumbled 38% on Tuesday after announcing plans to shut mines on the back of disappointing quarterly results.“We don’t learn from our mistakes in this industry, do we?” said Joseph Triepke, founder of Infill Thinking LLC and a former analyst at Citadel LLC’s Surveyor Capital. “The U.S. oilfield-service sector has overshot the growth cycle again resulting in a capacity glut. There’s too much of everything, from horsepower to sand.”Fracking an oil well involves surrounding the hole with an array of pumping trucks and other equipment that shoot high-pressure jets of water, sand and chemicals deep underground. For that reason, capacity is measured in horsepower.About 2.2 million horsepower, or roughly 10% of industry capacity, already has been earmarked for the scrap heap, according to Scott Gruber, an analyst at Citigroup Inc. In addition to Patterson and RPC, Gruber said industry titans Schlumberger Ltd. and Halliburton Co. probably are retiring parts of their fleets, and at least another 1 million horsepower needs to be eliminated to halt the slide in fracking fees.A spokeswoman for Halliburton declined to comment. A spokesman for Schlumberger referred to comments by CEO Olivier Le Peuch on a third-quarter earnings call, where the executive said it was too early to give specifics about activity levels.“Much needed attrition is (finally) materializing,” analysts at Tudor Pickering Holt & Co. wrote in a note to clients. “We wouldn’t be surprised to hear other pumpers jump aboard the fleet retirement train in the coming weeks.”The Philadelphia Oil Services Index has climbed 3% since RPC kicked off the round of pump-scrapping announcements last week.On a recent day in Odessa, Texas, in the heart of the Permian Basin, more than a dozen well-worn sand-hauling trucks sat parked in a dusty lot owned by RPC’s Cudd Energy unit. It was a similar scene at nearby equipment yards, where everything from drill pipe hooks to rigs sat idle.Land-based oilfield companies have been more pitiless than their offshore counterparts who stalled and delayed for years before demobilizing some of their most sophisticated and expensive gear. Transocean Ltd. parked deepwater drilling vessels in Caribbean waters at a cost of about $15,000 a day each to await an offshore revival. When it never came, the Swiss-based operator and rivals scrapped rigs that cost billions of dollars to construct.Estimates for total U.S. fracking capacity vary but Bank of America Merrill Lynch puts the figure at almost 25 million horsepower. Just 13 million of that is forecast to still be at work during the final months of this year, down from 17 million during the second quarter of 2018, according to Bank of America’s Chase Mulvehill.And next year doesn’t look much brighter. Baker Hughes Co., which owns a stake in the frack provider BJ Services, warned investors Wednesday that explorer spending in North America could drop by a rate that’s in the low double digits.The number of fracking crews deployed to wellsites across the U.S. already has fallen to the lowest in more than two years, according to Primary Vision Inc.“We’ll need to see oodles (and oodles) more attrition from other pumpers to clean up this market, absent a notable demand boost,” the Tudor analysts wrote.(Updates with comment from Baker Hughes in 13th paragraph.)\--With assistance from Kriti Gupta and Rachel Adams-Heard.To contact the reporter on this story: David Wethe in Houston at dwethe@bloomberg.netTo contact the editors responsible for this story: Simon Casey at scasey4@bloomberg.net, Joe Carroll, Pratish NarayananFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • RPC (RES) Q3 Earnings Miss on Low Pressure Pumping Activities
    Zacks

    RPC (RES) Q3 Earnings Miss on Low Pressure Pumping Activities

    A slowdown in drilling activities in U.S. resources and persistent weakness in crude prices hurt RPC's (RES) Q3 earnings.

  • RPC (RES) Reports Q3 Loss, Misses Revenue Estimates
    Zacks

    RPC (RES) Reports Q3 Loss, Misses Revenue Estimates

    RPC (RES) delivered earnings and revenue surprises of -700.00% and -14.43%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?

  • RPC (RES) to Post Q3 Earnings: Disappointment in the Cards?
    Zacks

    RPC (RES) to Post Q3 Earnings: Disappointment in the Cards?

    RPC's (RES) third-quarter 2019 performance is expected to have been influenced by slowdown of demand for pressure pumping services in U.S. shale plays.

  • A Sliding Share Price Has Us Looking At RPC, Inc.'s (NYSE:RES) P/E Ratio
    Simply Wall St.

    A Sliding Share Price Has Us Looking At RPC, Inc.'s (NYSE:RES) P/E Ratio

    To the annoyance of some shareholders, RPC (NYSE:RES) shares are down a considerable 31% in the last month. And that...

  • Do Investors Have Good Reason To Be Wary Of RPC, Inc.'s (NYSE:RES) 4.8% Dividend Yield?
    Simply Wall St.

    Do Investors Have Good Reason To Be Wary Of RPC, Inc.'s (NYSE:RES) 4.8% Dividend Yield?

    Could RPC, Inc. (NYSE:RES) be an attractive dividend share to own for the long haul? Investors are often drawn to...

  • Implied Volatility Surging for RPC (RES) Stock Options
    Zacks

    Implied Volatility Surging for RPC (RES) Stock Options

    Investors need to pay close attention to RPC (RES) stock based on the movements in the options market lately.

  • Is RPC, Inc. (NYSE:RES) A Volatile Stock?
    Simply Wall St.

    Is RPC, Inc. (NYSE:RES) A Volatile Stock?

    Anyone researching RPC, Inc. (NYSE:RES) might want to consider the historical volatility of the share price. Modern...

  • Here's Why You Should Avoid Betting on RPC (RES) Stock Now
    Zacks

    Here's Why You Should Avoid Betting on RPC (RES) Stock Now

    Rising cost of revenues and lower demand for services are causes of concern for RPC (RES).

  • Is RPC, Inc.'s (NYSE:RES) P/E Ratio Really That Good?
    Simply Wall St.

    Is RPC, Inc.'s (NYSE:RES) P/E Ratio Really That Good?

    This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios...

  • RPC (RES) Plunges as Q2 Earnings & Revenues Miss Estimates
    Zacks

    RPC (RES) Plunges as Q2 Earnings & Revenues Miss Estimates

    Lower contributions from pressure pumping activities hurt RPC's (RES) second-quarter earnings.

  • RPC Inc (RES) Q2 2019 Earnings Call Transcript
    Motley Fool

    RPC Inc (RES) Q2 2019 Earnings Call Transcript

    RES earnings call for the period ending June 30, 2019.

  • Why RPC Stock Is Slumping Today
    Motley Fool

    Why RPC Stock Is Slumping Today

    The oil and gas services company disappointed investors.

  • RPC, Inc. (NYSE:RES) Earns A Nice Return On Capital Employed
    Simply Wall St.

    RPC, Inc. (NYSE:RES) Earns A Nice Return On Capital Employed

    Today we'll look at RPC, Inc. (NYSE:RES) and reflect on its potential as an investment. In particular, we'll consider...

  • RPC (RES) Q2 Earnings and Revenues Lag Estimates
    Zacks

    RPC (RES) Q2 Earnings and Revenues Lag Estimates

    RPC (RES) delivered earnings and revenue surprises of -25.00% and -1.70%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?

  • ACCESSWIRE

    RPC, Inc. to Host Earnings Call

    NEW YORK, NY / ACCESSWIRE / July 24, 2019 / RPC, Inc. (NYSE: RES ) will be discussing their earnings results in their 2019 Second Quarter Earnings to be held on July 24, 2019 at 9:00 AM Eastern Time. To ...

  • Why RPC (RES) Could Be Positioned for a Slump
    Zacks

    Why RPC (RES) Could Be Positioned for a Slump

    RPC (RES) has witnessed a significant price decline in the past four weeks, and is seeing negative earnings estimate revisions as well.

  • Analysts Estimate RPC (RES) to Report a Decline in Earnings: What to Look Out for
    Zacks

    Analysts Estimate RPC (RES) to Report a Decline in Earnings: What to Look Out for

    RPC (RES) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

  • How Much Did RPC, Inc.'s (NYSE:RES) CEO Pocket Last Year?
    Simply Wall St.

    How Much Did RPC, Inc.'s (NYSE:RES) CEO Pocket Last Year?

    In 2003 Richard Hubbell was appointed CEO of RPC, Inc. (NYSE:RES). This analysis aims first to contrast CEO...

  • Have Insiders Been Buying RPC, Inc. (NYSE:RES) Shares This Year?
    Simply Wall St.

    Have Insiders Been Buying RPC, Inc. (NYSE:RES) Shares This Year?

    We often see insiders buying up shares in companies that perform well over the long term. The flip side of that is...

  • RPC (RES) Down 23.5% Since Last Earnings Report: Can It Rebound?
    Zacks

    RPC (RES) Down 23.5% Since Last Earnings Report: Can It Rebound?

    RPC (RES) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.