RPC, Inc. (NYSE:RES) Given Consensus Rating of “Reduce” by Analysts

Shares of RPC, Inc. (NYSE:RES) have earned an average recommendation of “Reduce” from the five brokerages that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $4.6875.

Several brokerages have commented on RES. Stifel Nicolaus decreased their price objective on shares of RPC from $6.00 to $5.00 and set a “hold” rating for the company in a report on Wednesday, July 16th. Susquehanna reduced their price target on shares of RPC from $5.50 to $5.00 and set a “neutral” rating on the stock in a research report on Friday, July 25th. Weiss Ratings restated a “sell (d+)” rating on shares of RPC in a report on Wednesday, October 8th. Wall Street Zen raised RPC from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Piper Sandler reduced their target price on RPC from $5.00 to $4.00 and set an “underweight” rating on the stock in a report on Thursday, August 14th.

Hedge Funds Weigh In On RPC

Several institutional investors and hedge funds have recently added to or reduced their stakes in RES. Caxton Associates LLP purchased a new position in shares of RPC in the 1st quarter worth about $344,000. New York State Common Retirement Fund increased its stake in RPC by 81.8% during the 1st quarter. New York State Common Retirement Fund now owns 170,701 shares of the oil and gas company’s stock valued at $939,000 after purchasing an additional 76,800 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in RPC in the second quarter worth about $47,000. Range Financial Group LLC bought a new position in shares of RPC in the second quarter worth approximately $1,309,000. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of RPC during the first quarter valued at approximately $1,432,000. Hedge funds and other institutional investors own 41.06% of the company’s stock.

RPC Price Performance

Shares of RES stock opened at $5.49 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.16 and a current ratio of 2.64. RPC has a fifty-two week low of $4.10 and a fifty-two week high of $7.17. The firm has a market cap of $1.21 billion, a P/E ratio of 21.10 and a beta of 0.80. The business’s 50 day moving average price is $4.75 and its 200-day moving average price is $4.77.

RPC (NYSE:RES) last announced its 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 5.65% and a net margin of 3.77%.The company had revenue of $225.31 million during the quarter. On average, equities research analysts anticipate that RPC will post 0.31 earnings per share for the current year.

RPC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Monday, November 10th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Monday, November 10th. RPC’s dividend payout ratio is presently 69.57%.

RPC Company Profile

RPC, Inc, through its subsidiaries, engages provision of 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 segment offers pressure pumping, fracturing, acidizing, cementing, 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.