Brokerages Set RPC, Inc. (NYSE:RES) Target Price at $5.25

RPC, Inc. (NYSE:RES) has been given an average rating of “Reduce” by the five ratings firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $5.25.

A number of equities research analysts have weighed in on the company. Wall Street Zen downgraded RPC from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Susquehanna upped their price objective on RPC from $5.50 to $6.00 and gave the company a “neutral” rating in a report on Wednesday, January 7th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of RPC in a research note on Monday, December 29th. Citigroup boosted their price target on shares of RPC from $5.75 to $6.00 and gave the stock a “neutral” rating in a research report on Thursday, December 11th. Finally, Piper Sandler restated an “underweight” rating on shares of RPC in a research report on Thursday, December 18th.

Institutional Investors Weigh In On RPC

Hedge funds have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its stake in RPC by 1.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 11,660,219 shares of the oil and gas company’s stock worth $63,432,000 after purchasing an additional 213,956 shares in the last quarter. State Street Corp boosted its holdings in shares of RPC by 6.1% in the fourth quarter. State Street Corp now owns 4,049,407 shares of the oil and gas company’s stock worth $22,029,000 after buying an additional 233,646 shares during the period. American Century Companies Inc. increased its position in shares of RPC by 8.4% in the third quarter. American Century Companies Inc. now owns 3,960,190 shares of the oil and gas company’s stock worth $18,851,000 after acquiring an additional 308,361 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of RPC by 31.5% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,800,246 shares of the oil and gas company’s stock valued at $13,245,000 after acquiring an additional 670,432 shares during the period. Finally, IES Holdings Inc. acquired a new stake in shares of RPC during the fourth quarter valued at approximately $14,144,000. 41.06% of the stock is owned by hedge funds and other institutional investors.

RPC Price Performance

Shares of RES opened at $5.96 on Monday. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 39.70 and a beta of 0.72. The stock’s fifty day moving average is $5.86 and its 200-day moving average is $5.22. RPC has a one year low of $4.10 and a one year high of $6.85. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.70 and a current ratio of 3.24.

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

RPC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 10th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Tuesday, February 10th. RPC’s dividend payout ratio (DPR) is presently 106.67%.

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.