RPC, Inc. (RES) Given Consensus Recommendation of “Hold” by Brokerages
Shares of RPC, Inc. (NYSE:RES) have been assigned an average rating of “Hold” from the twenty analysts that are covering the company, Marketbeat.com reports. Eleven investment analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $23.57.
Several equities analysts have recently commented on the company. Jefferies Group LLC set a $26.00 price target on RPC and gave the company a “buy” rating in a research note on Saturday, June 17th. Cowen and Company upped their price target on RPC from $20.00 to $24.00 and gave the company a “market perform” rating in a research note on Thursday, July 27th. Piper Jaffray Companies reaffirmed a “neutral” rating and issued a $20.50 price target (up previously from $18.75) on shares of RPC in a research note on Wednesday, July 12th. Seaport Global Securities lowered RPC from a “buy” rating to a “neutral” rating and decreased their price target for the company from $25.00 to $20.00 in a research note on Wednesday, June 21st. Finally, Zacks Investment Research lowered RPC from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th.
Hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. raised its position in RPC by 142.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 465,621 shares of the oil and gas company’s stock valued at $8,526,000 after purchasing an additional 273,554 shares in the last quarter. Commerce Bank raised its position in RPC by 4.4% in the 2nd quarter. Commerce Bank now owns 659,446 shares of the oil and gas company’s stock valued at $13,328,000 after purchasing an additional 27,686 shares in the last quarter. Mutual of America Capital Management LLC acquired a new stake in RPC in the 1st quarter valued at about $1,615,000. Alliancebernstein L.P. raised its position in RPC by 21.6% in the 1st quarter. Alliancebernstein L.P. now owns 5,707,098 shares of the oil and gas company’s stock valued at $104,497,000 after purchasing an additional 1,012,027 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in RPC by 12.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 186,991 shares of the oil and gas company’s stock valued at $3,779,000 after purchasing an additional 20,832 shares in the last quarter. 38.18% of the stock is currently owned by institutional investors.
Shares of RPC (NYSE RES) opened at 20.34 on Friday. The company’s market capitalization is $4.42 billion. The stock’s 50 day moving average price is $19.90 and its 200 day moving average price is $19.33. RPC has a 52-week low of $14.18 and a 52-week high of $23.36.
RPC (NYSE:RES) last announced its quarterly earnings results on Wednesday, July 26th. The oil and gas company reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.06. RPC had a negative return on equity of 1.74% and a negative net margin of 1.15%. The business had revenue of $399 million for the quarter, compared to analyst estimates of $415.65 million. During the same quarter in the prior year, the company posted ($0.23) EPS. The company’s quarterly revenue was up 179.0% on a year-over-year basis. On average, equities research analysts forecast that RPC will post $0.81 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Thursday, August 10th will be given a $0.06 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $0.24 dividend on an annualized basis and a yield of 1.18%. This is a positive change from RPC’s previous quarterly dividend of $0.05. RPC’s dividend payout ratio (DPR) is currently -183.30%.
RPC, Inc (RPC) is a holding company for several oilfield services companies. The Company provides a range of specialized oilfield services and equipment primarily to independent oil and gas companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the southwest, mid-continent, Gulf of Mexico, Rocky Mountain and Appalachian regions, and in selected international markets.
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