RPC, Inc. (RES) Given Consensus Rating of “Hold” by Brokerages
RPC, Inc. (NYSE:RES) has earned a consensus rating of “Hold” from the twenty-four brokerages that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and nine have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $24.83.
A number of research firms have commented on RES. B. Riley restated a “buy” rating on shares of RPC in a research report on Wednesday, November 1st. Cowen and Company set a $24.00 price target on shares of RPC and gave the company a “hold” rating in a research report on Friday, October 6th. Morgan Stanley lowered shares of RPC from an “equal weight” rating to an “underweight” rating and set a $25.00 price target on the stock. in a research report on Tuesday, November 14th. They noted that the move was a valuation call. BMO Capital Markets boosted their price target on shares of RPC from $26.00 to $29.00 and gave the company an “outperform” rating in a research report on Friday, November 10th. Finally, FBR & Co set a $27.00 price target on shares of RPC and gave the company a “buy” rating in a research report on Thursday, October 26th.
RPC (NYSE RES) opened at $23.09 on Thursday. The company has a market cap of $4,953.32, a PE ratio of 58.64, a price-to-earnings-growth ratio of 1.56 and a beta of 1.16. RPC has a 12-month low of $16.63 and a 12-month high of $26.45.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 10th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.21%. This is an increase from RPC’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, November 9th. RPC’s payout ratio is 73.69%.
In other RPC news, Director Amy Rollins Kreisler purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was acquired at an average cost of $23.21 per share, with a total value of $116,050.00. Following the completion of the purchase, the director now directly owns 5,000 shares in the company, valued at approximately $116,050. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 73.50% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc increased its stake in RPC by 110.0% in the first quarter. Legal & General Group Plc now owns 24,330 shares of the oil and gas company’s stock valued at $445,000 after purchasing an additional 12,747 shares in the last quarter. Vanguard Group Inc. increased its stake in RPC by 15.4% in the first quarter. Vanguard Group Inc. now owns 5,048,305 shares of the oil and gas company’s stock valued at $92,434,000 after purchasing an additional 672,810 shares in the last quarter. Geode Capital Management LLC increased its stake in RPC by 10.8% in the first quarter. Geode Capital Management LLC now owns 475,380 shares of the oil and gas company’s stock valued at $8,703,000 after purchasing an additional 46,272 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in RPC by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,526,110 shares of the oil and gas company’s stock valued at $27,941,000 after purchasing an additional 8,416 shares in the last quarter. Finally, Morgan Stanley increased its stake in RPC by 13.0% in the first quarter. Morgan Stanley now owns 245,580 shares of the oil and gas company’s stock valued at $4,496,000 after purchasing an additional 28,163 shares in the last quarter. 36.51% of the stock is owned by institutional investors and hedge funds.
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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.
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