RPC Inc. (RES) Now Covered by Analysts at Jefferies Group
RES has been the topic of a number of other research reports. Zacks Investment Research raised RPC from a hold rating to a buy rating and set a $19.00 target price on the stock in a research report on Thursday, November 3rd. Nomura set a $14.00 target price on RPC and gave the company a hold rating in a research report on Tuesday, August 16th. Seaport Global Securities reissued a reduce rating on shares of RPC in a research report on Wednesday, September 28th. TheStreet raised RPC from a sell rating to a hold rating in a research report on Monday, October 31st. Finally, Citigroup Inc. lifted their target price on RPC from $16.00 to $19.00 and gave the company a neutral rating in a research report on Tuesday, October 11th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $15.82.
Shares of RPC (NYSE:RES) opened at 18.12 on Monday. The stock has a 50 day moving average price of $17.84 and a 200 day moving average price of $15.89. The company’s market capitalization is $3.94 billion. RPC has a 52-week low of $9.73 and a 52-week high of $19.17.
RPC (NYSE:RES) last released its quarterly earnings data on Wednesday, October 26th. The company reported ($0.18) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.03. RPC had a negative return on equity of 17.64% and a negative net margin of 20.36%. The business had revenue of $175.90 million for the quarter, compared to analysts’ expectations of $157.53 million. During the same quarter in the previous year, the business posted ($0.16) EPS. RPC’s revenue for the quarter was down 39.7% on a year-over-year basis. On average, analysts predict that RPC will post ($0.71) earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Shareholders of record on Thursday, November 10th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, November 8th. This represents a $0.20 dividend on an annualized basis and a yield of 1.10%. RPC’s payout ratio is presently -27.03%.
In other RPC news, CFO Ben M. Palmer sold 35,479 shares of the company’s stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $17.90, for a total value of $635,074.10. Following the completion of the transaction, the chief financial officer now owns 667,583 shares of the company’s stock, valued at approximately $11,949,735.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 73.40% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of RES. First Trust Advisors LP boosted its position in shares of RPC by 91.8% in the second quarter. First Trust Advisors LP now owns 2,252,149 shares of the company’s stock worth $34,976,000 after buying an additional 1,077,709 shares during the last quarter. Viking Fund Management LLC bought a new stake in shares of RPC during the second quarter valued at $13,977,000. Teachers Advisors Inc. boosted its stake in shares of RPC by 57.2% in the second quarter. Teachers Advisors Inc. now owns 2,449,157 shares of the company’s stock valued at $38,035,000 after buying an additional 891,411 shares during the last quarter. Pioneer Investment Management Inc. boosted its stake in shares of RPC by 317.9% in the third quarter. Pioneer Investment Management Inc. now owns 1,148,001 shares of the company’s stock valued at $19,286,000 after buying an additional 873,318 shares during the last quarter. Finally, Victory Capital Management Inc. bought a new stake in shares of RPC during the third quarter valued at $13,826,000. 37.62% of the stock is owned by institutional investors and hedge funds.
RPC, Inc (RPC) is a holding company for several oilfield services companies. The Company provides a range of specialized oilfield services and equipment to oil and gas companies engaged in the exploration, production and development of oil and gas properties across the United States, including the southwest, mid-continent, Gulf of Mexico, Rocky Mountain and Appalachian regions, and in selected international markets.
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