RPC, Inc. (RES) Given Consensus Rating of “Hold” by Brokerages
Shares of RPC, Inc. (NYSE:RES) have been assigned a consensus recommendation of “Hold” from the twenty brokerages that are currently covering the company, MarketBeat.com reports. Eleven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $23.57.
Several brokerages have weighed in on RES. Jefferies Group LLC set a $26.00 target price on shares of RPC and gave the company a “buy” rating in a research note on Saturday, June 17th. Cowen and Company reaffirmed a “hold” rating and issued a $24.00 price target on shares of RPC in a report on Friday, September 1st. Piper Jaffray Companies reaffirmed a “neutral” rating and set a $20.50 price target (up from $18.75) on shares of RPC in a research report on Wednesday, July 12th. Seaport Global Securities reaffirmed a “neutral” rating on shares of RPC in a research report on Wednesday, July 26th. Finally, Barclays PLC began coverage on RPC in a report on Tuesday, September 5th. They set an “equal weight” rating and a $19.00 price objective for the company.
Shares of RPC (NYSE:RES) opened at 24.33 on Wednesday. The stock’s market capitalization is $5.29 billion. The firm’s 50-day moving average price is $21.17 and its 200 day moving average price is $19.81. RPC has a 52 week low of $16.48 and a 52 week high of $25.00.
RPC (NYSE:RES) last issued its quarterly earnings data on Wednesday, July 26th. The oil and gas company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. RPC had a negative net margin of 1.15% and a negative return on equity of 1.74%. The firm had revenue of $399.00 million for the quarter, compared to the consensus estimate of $415.65 million. During the same quarter in the previous year, the firm earned ($0.23) EPS. The company’s quarterly revenue was up 179.0% compared to the same quarter last year. Analysts expect that RPC will post $0.83 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Thursday, August 10th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.99%. This is a boost from RPC’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Tuesday, August 8th. RPC’s dividend payout ratio (DPR) is presently -183.30%.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its holdings in RPC by 7.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,514 shares of the oil and gas company’s stock worth $132,000 after buying an additional 459 shares during the period. Pacer Advisors Inc. raised its position in RPC by 22.0% during the 1st quarter. Pacer Advisors Inc. now owns 10,144 shares of the oil and gas company’s stock worth $186,000 after buying an additional 1,830 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in RPC by 40.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 10,503 shares of the oil and gas company’s stock worth $192,000 after buying an additional 3,048 shares during the last quarter. Bbva Compass Bancshares Inc. purchased a new position in RPC during the 2nd quarter worth approximately $219,000. Finally, Amalgamated Bank purchased a new position in RPC during the 2nd quarter worth approximately $223,000. Hedge funds and other institutional investors own 38.17% of the company’s stock.
RPC Company Profile
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.
Receive News & Ratings for RPC Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RPC Inc. and related companies with MarketBeat.com's FREE daily email newsletter.