RPC (NYSE:RES) Downgraded by Wall Street Zen to “Hold”

Wall Street Zen cut shares of RPC (NYSE:RES) from a buy rating to a hold rating in a research report released on Saturday morning.

A number of other research firms also recently commented on RES. Weiss Ratings reiterated a “hold (c-)” rating on shares of RPC in a report on Monday, December 29th. Citigroup upped their price target on RPC from $5.75 to $6.00 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Piper Sandler reissued an “underweight” rating on shares of RPC in a research note on Thursday, December 18th. Finally, Susquehanna boosted their price objective on shares of RPC from $5.50 to $6.00 and gave the company a “neutral” rating in a report on Wednesday, January 7th. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, RPC has a consensus rating of “Reduce” and a consensus target price of $5.25.

RPC Stock Up 6.8%

Shares of NYSE:RES opened at $5.79 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.24 and a quick ratio of 2.31. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 38.60 and a beta of 0.72. The company has a 50 day moving average of $5.85 and a 200-day moving average of $5.17. RPC has a one year low of $4.10 and a one year high of $6.85.

RPC (NYSE:RES) last announced its quarterly earnings data on Tuesday, February 3rd. The oil and gas company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). RPC had a net margin of 1.97% and a return on equity of 5.24%. The business had revenue of $425.78 million during the quarter, compared to analyst estimates of $423.30 million. During the same quarter in the prior year, the company earned $0.06 earnings per share. The company’s quarterly revenue was up 26.9% on a year-over-year basis. On average, sell-side analysts forecast that RPC will post 0.31 earnings per share for the current year.

RPC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 10th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 2.8%. The ex-dividend date is Tuesday, February 10th. RPC’s dividend payout ratio (DPR) is 106.67%.

Institutional Investors Weigh In On RPC

Large investors have recently made changes to their positions in the stock. Carolina Wealth Advisors LLC lifted its position in RPC by 7,851.8% in the 3rd 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 in the last quarter. Congress Asset Management Co. acquired a new stake in shares of RPC in the 3rd quarter valued at about $5,959,000. Brandywine Global Investment Management LLC bought a new stake in shares of RPC in the second quarter valued at about $4,465,000. UBS Group AG boosted its position in shares of RPC by 134.3% during the third quarter. UBS Group AG now owns 1,499,425 shares of the oil and gas company’s stock worth $7,137,000 after buying an additional 859,406 shares during the period. Finally, Millennium Management LLC boosted its position in shares of RPC by 394.6% during the third 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 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.