RPC, Inc. (NYSE:RES) Receives $5.00 Consensus PT from Analysts

Shares of RPC, Inc. (NYSE:RES) have been given a consensus rating of “Reduce” by the five brokerages that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $5.00.

RES has been the topic of several research analyst reports. Piper Sandler restated an “underweight” rating on shares of RPC in a report on Thursday, December 18th. Citigroup increased their price objective on shares of RPC from $5.75 to $6.00 and gave the stock a “neutral” rating in a report on Thursday, December 11th. Wall Street Zen cut shares of RPC from a “buy” rating to a “hold” rating in a research report on Saturday, December 13th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of RPC in a research report on Monday.

Institutional Investors Weigh In On RPC

Institutional investors and hedge funds have recently made changes to their positions in the company. Carolina Wealth Advisors LLC boosted its holdings in RPC by 7,851.8% in the third quarter. Carolina Wealth Advisors LLC now owns 1,277,544 shares of the oil and gas company’s stock valued at $6,081,000 after acquiring an additional 1,261,478 shares during the last quarter. Congress Asset Management Co. bought a new stake in RPC during the 3rd quarter worth about $5,959,000. Brandywine Global Investment Management LLC acquired a new position in RPC during the 2nd quarter valued at about $4,465,000. UBS Group AG boosted its stake in shares of RPC by 134.3% in the 3rd quarter. UBS Group AG now owns 1,499,425 shares of the oil and gas company’s stock valued at $7,137,000 after purchasing an additional 859,406 shares during the last quarter. Finally, Millennium Management LLC grew its position in shares of RPC by 394.6% during the 3rd quarter. Millennium Management LLC now owns 885,148 shares of the oil and gas company’s stock worth $4,213,000 after buying an additional 706,181 shares during the period. Institutional investors own 41.06% of the company’s stock.

RPC Stock Performance

NYSE RES opened at $5.49 on Friday. RPC has a 1-year low of $4.10 and a 1-year high of $7.17. The company has a 50 day moving average of $5.40 and a 200-day moving average of $4.96. The company has a current ratio of 2.78, a quick ratio of 2.31 and a debt-to-equity ratio of 0.03. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 23.85 and a beta of 0.63.

RPC (NYSE:RES) last released its quarterly earnings results on Wednesday, November 16th. The oil and gas company reported $0.02 EPS for the quarter. RPC had a return on equity of 5.58% and a net margin of 3.12%.The business had revenue of $225.31 million for the quarter. On average, equities analysts forecast that RPC will post 0.31 earnings per share for the current fiscal year.

RPC Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $0.16 annualized dividend and a yield of 2.9%. RPC’s dividend payout ratio is currently 69.57%.

RPC Company Profile

RPC, Inc (NYSE: RES) provides essential equipment and services to companies engaged in the exploration, production and maintenance of oil and natural gas wells. The firm operates as an equity interest holding company, partnering with a network of independent service businesses to deliver a comprehensive suite of offerings for well completion and production operations.

Through its affiliated service companies, RPC offers pressure pumping and fracturing services, coiled tubing and nitrogen pumping, downhole tools and telemetry solutions, well intervention and workover services, along with rental tools and supply-chain logistics.