RPC, Inc. (NYSE:RES) Stock Has Consensus Price Target of $6.00

RPC, Inc. (NYSE:RES) has earned an average rating of “Hold” from the five research firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $6.00.

A number of equities research analysts recently commented on RES shares. Evercore lowered shares of RPC to an “outperform” rating in a report on Friday. Weiss Ratings lowered shares of RPC from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, September 16th. Finally, Susquehanna lowered their target price on RPC from $7.50 to $6.00 and set a “neutral” rating for the company in a report on Wednesday, July 8th.

RPC Trading Down 3.3%

RPC stock traded down $0.21 during mid-day trading on Friday, hitting $6.17. 2,904,324 shares of the company’s stock were exchanged, compared to its average volume of 2,079,059. The firm has a market capitalization of $1.37 billion, a P/E ratio of 68.56 and a beta of 0.86. RPC has a fifty-two week low of $4.99 and a fifty-two week high of $8.16. The company has a quick ratio of 2.76, a current ratio of 3.34 and a debt-to-equity ratio of 0.02. The company’s 50 day simple moving average is $6.15 and its 200-day simple moving average is $6.37.

RPC (NYSE:RES) last posted its earnings results on Thursday, October 29th. The oil and gas company reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10. RPC had a return on equity of 4.82% and a net margin of 1.28%. The firm had revenue of $467.74 million during the quarter, compared to analysts’ expectations of $469.12 million. During the same period in the previous year, the firm earned $0.09 earnings per share. The company’s revenue was up 4.6% on a year-over-year basis. On average, equities analysts anticipate that RPC will post 0.26 earnings per share for the current year.

RPC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Tuesday, November 10th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 2.6%. The ex-dividend date of this dividend is Tuesday, November 10th. RPC’s dividend payout ratio is currently 177.78%.

Institutional Investors Weigh In On RPC

Several institutional investors have recently bought and sold shares of the company. USA Financial Formulas acquired a new position in RPC during the 3rd quarter worth approximately $40,000. GAMMA Investing LLC raised its holdings in shares of RPC by 28.7% in the third quarter. GAMMA Investing LLC now owns 7,892 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 1,761 shares during the last quarter. State of Wyoming bought a new stake in shares of RPC in the second quarter worth $54,000. Commerce Bank bought a new stake in shares of RPC in the second quarter worth $62,000. Finally, IMC Chicago LLC bought a new stake in shares of RPC in the first quarter worth $80,000. Institutional investors own 41.06% of the company’s stock.

RPC News Summary

Here are the key news stories impacting RPC this week:

• Positive Sentiment: RPC reported third-quarter revenue of $467.7 million, up approximately 1% sequentially and 4.6% year over year. Adjusted EBITDA was $71.5 million, with a 15.3% margin, while Technical Services and Support Services revenue both increased. RPC Third-Quarter Financial Results
• Positive Sentiment: The company declared a regular quarterly dividend of $0.04 per share, payable December 10 to shareholders of record on November 10. The annualized payout is $0.16 per share, representing a yield of roughly 2.5% based on the reported share price. RPC Dividend Announcement
• Neutral Sentiment: Adjusted earnings were reported at $0.10 per share, broadly in line with analyst expectations, although revenue of $467.7 million was slightly below the $469.1 million consensus estimate. The results showed modest growth but did not provide a major upside surprise. RPC Q3 Earnings Report
• Negative Sentiment: RPC recorded a $41.9 million net loss, or $0.20 per diluted share, after taking a $74.5 million non-cash impairment charge tied to its Pintail wireline business. Although the charge does not directly reduce cash, it signals weaker asset values and is the primary reason for the negative market reaction. RPC Pintail Impairment Report

About RPC

RPC, Inc (NYSE: RES) is an oilfield services company that provides specialized equipment and services to energy producers and exploration and production companies. Its offerings support the drilling, completion, production and maintenance of oil and natural gas wells.

The company’s services include pressure pumping, coiled tubing, well control, nitrogen services, downhole tools, well testing, fishing and rental equipment. These services are used in activities such as hydraulic fracturing, well intervention, workover operations and production enhancement.

RPC was founded in 1984 and is headquartered in Atlanta, Georgia.