RPC, Inc. (NYSE:RES) Receives $5.63 Consensus Target Price from Analysts

Shares of RPC, Inc. (NYSE:RES) have earned an average recommendation of “Reduce” from the five research firms that are presently covering the firm, Marketbeat 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 12-month price objective among analysts that have updated their coverage on the stock in the last year is $5.6250.

Several research firms have recently weighed in on RES. Weiss Ratings reiterated a “hold (c)” rating on shares of RPC in a report on Tuesday, April 14th. Susquehanna lifted their price objective on RPC from $7.00 to $7.50 and gave the company a “neutral” rating in a report on Friday, May 8th.

Institutional Investors Weigh In On RPC

Hedge funds and other institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its position in RPC by 220.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,533 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 4,495 shares during the last quarter. Tower Research Capital LLC TRC raised its position in RPC by 243.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,681 shares of the oil and gas company’s stock valued at $41,000 after buying an additional 6,153 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in RPC in the 4th quarter valued at approximately $48,000. CWM LLC raised its position in RPC by 88.2% in the 4th quarter. CWM LLC now owns 9,316 shares of the oil and gas company’s stock valued at $51,000 after buying an additional 4,365 shares during the last quarter. Finally, Range Financial Group LLC acquired a new stake in RPC in the 4th quarter valued at approximately $59,000. Institutional investors and hedge funds own 41.06% of the company’s stock.

RPC Trading Up 3.8%

NYSE:RES opened at $5.94 on Friday. RPC has a fifty-two week low of $4.18 and a fifty-two week high of $8.16. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.13 and a quick ratio of 2.61. The stock has a market capitalization of $1.32 billion, a PE ratio of 65.94 and a beta of 0.62. The business’s 50-day simple moving average is $7.04 and its 200-day simple moving average is $6.47.

RPC (NYSE:RES) last released its quarterly earnings data on Thursday, May 7th. The oil and gas company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.02. RPC had a return on equity of 4.82% and a net margin of 1.20%.The business had revenue of $454.76 million for the quarter, compared to analysts’ expectations of $406.68 million. During the same quarter in the previous year, the business posted $0.06 EPS. RPC’s revenue for the quarter was up 36.6% on a year-over-year basis. Sell-side analysts expect that RPC will post 0.2 earnings per share for the current fiscal year.

RPC Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Monday, May 11th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Monday, May 11th. RPC’s payout ratio is 177.78%.

About RPC

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.