RPC, Inc. (RES) Given Average Recommendation of “Hold” by Brokerages
RPC, Inc. (NYSE:RES) has received an average rating of “Hold” from the twenty-one research firms that are presently covering the company, MarketBeat reports. Three research analysts have rated the stock with a sell recommendation and seventeen have given a hold recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $16.07.
A number of equities analysts have recently weighed in on the company. Seaport Global Securities restated a “neutral” rating on shares of RPC in a research note on Thursday, July 26th. Cowen restated a “hold” rating and issued a $15.00 target price on shares of RPC in a research note on Thursday, July 26th. B. Riley set a $16.00 target price on RPC and gave the stock a “hold” rating in a research note on Thursday, July 26th. Zacks Investment Research downgraded RPC from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 17th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $15.00 target price on shares of RPC in a research note on Thursday, July 26th.
A number of institutional investors have recently bought and sold shares of RES. Wells Fargo & Company MN lifted its stake in RPC by 12.1% in the first quarter. Wells Fargo & Company MN now owns 103,424 shares of the oil and gas company’s stock valued at $1,865,000 after purchasing an additional 11,141 shares during the last quarter. Jane Street Group LLC purchased a new position in RPC in the first quarter valued at approximately $229,000. LPL Financial LLC lifted its stake in RPC by 136.4% in the first quarter. LPL Financial LLC now owns 20,809 shares of the oil and gas company’s stock valued at $375,000 after purchasing an additional 12,005 shares during the last quarter. Guggenheim Capital LLC lifted its stake in RPC by 60.8% in the first quarter. Guggenheim Capital LLC now owns 88,983 shares of the oil and gas company’s stock valued at $1,604,000 after purchasing an additional 33,636 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in RPC by 267.6% in the first quarter. Royal Bank of Canada now owns 12,375 shares of the oil and gas company’s stock valued at $224,000 after purchasing an additional 19,760 shares during the last quarter. Institutional investors and hedge funds own 32.33% of the company’s stock.
RPC (NYSE:RES) last issued its quarterly earnings data on Wednesday, October 24th. The oil and gas company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.04). RPC had a return on equity of 20.48% and a net margin of 12.40%. The company had revenue of $439.99 million for the quarter, compared to the consensus estimate of $456.54 million. During the same period in the prior year, the firm posted $0.26 earnings per share. The business’s revenue for the quarter was down 6.6% on a year-over-year basis. On average, equities analysts forecast that RPC will post 0.84 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 9th will be paid a $0.10 dividend. The ex-dividend date is Thursday, November 8th. This represents a $0.40 annualized dividend and a yield of 3.11%. RPC’s payout ratio is 60.61%.
RPC, Inc 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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