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

RPC, Inc. (NYSE:RES) has been assigned an average recommendation of “Reduce” from the five research firms that are covering the firm, MarketBeat reports. One 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 brokerages that have issued ratings on the stock in the last year is $5.50.

Several equities research analysts have recently commented on the company. Susquehanna upped their price objective on RPC from $6.00 to $7.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 7th. Wall Street Zen downgraded RPC from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of RPC in a research report on Tuesday, April 14th.

Institutional Investors Weigh In On RPC

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in shares of RPC by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,660,219 shares of the oil and gas company’s stock valued at $63,432,000 after acquiring an additional 213,956 shares in the last quarter. State Street Corp lifted its position in RPC by 6.1% during the fourth quarter. State Street Corp now owns 4,049,407 shares of the oil and gas company’s stock valued at $22,029,000 after purchasing an additional 233,646 shares during the last quarter. American Century Companies Inc. grew its position in 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. IES Holdings Inc. purchased a new position in shares of RPC in the 4th quarter worth approximately $14,144,000. Finally, Van ECK Associates Corp boosted its stake in RPC by 13.0% during the fourth quarter. Van ECK Associates Corp now owns 2,508,890 shares of the oil and gas company’s stock worth $13,648,000 after buying an additional 288,917 shares during the period. Institutional investors own 41.06% of the company’s stock.

RPC Stock Performance

Shares of NYSE RES opened at $7.64 on Friday. RPC has a 12-month low of $4.18 and a 12-month high of $8.16. The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 50.90 and a beta of 0.69. The company has a current ratio of 3.24, a quick ratio of 2.70 and a debt-to-equity ratio of 0.03. The firm has a 50 day moving average of $6.79 and a 200 day moving average of $5.98.

RPC (NYSE:RES) last released its quarterly earnings results 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). The business had revenue of $425.78 million during the quarter, compared to the consensus estimate of $423.30 million. RPC had a return on equity of 5.24% and a net margin of 1.97%.The firm’s revenue was up 26.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.06 earnings per share. On average, research analysts anticipate that RPC will post 0.18 earnings per share for the current year.

RPC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Monday, May 11th will be paid a dividend of $0.04 per share. The ex-dividend date is Monday, May 11th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.1%. RPC’s payout ratio is 106.67%.

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.