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

Shares of RPC, Inc. (NYSE:RES) have been assigned an average rating of “Reduce” from the five research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $4.6875.

RES has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of RPC in a research report on Monday. Piper Sandler reduced their price target on shares of RPC from $5.00 to $4.00 and set an “underweight” rating for the company in a research note on Thursday, August 14th. Finally, Wall Street Zen raised RPC from a “hold” rating to a “buy” rating in a research note on Saturday.

RPC Stock Up 0.5%

Shares of RPC stock opened at $5.41 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.64 and a quick ratio of 2.16. RPC has a 1-year low of $4.10 and a 1-year high of $7.17. The business’s fifty day moving average price is $4.99 and its two-hundred day moving average price is $4.82. The company has a market capitalization of $1.19 billion, a P/E ratio of 20.79 and a beta of 0.80.

RPC (NYSE:RES) last released its quarterly earnings results on Wednesday, November 16th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter. RPC had a return on equity of 5.65% and a net margin of 3.77%.The company had revenue of $225.31 million during the quarter. As a group, research analysts forecast that RPC will post 0.31 EPS for the current year.

RPC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Monday, November 10th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Monday, November 10th. RPC’s payout ratio is presently 69.57%.

Institutional Investors Weigh In On RPC

A number of institutional investors and hedge funds have recently bought and sold shares of the business. American Century Companies Inc. grew its stake in shares of RPC by 8.4% in the 3rd quarter. American Century Companies Inc. now owns 3,960,190 shares of the oil and gas company’s stock worth $18,851,000 after purchasing an additional 308,361 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in RPC by 31.5% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,800,246 shares of the oil and gas company’s stock valued at $13,245,000 after purchasing an additional 670,432 shares during the last quarter. Gabelli Funds LLC lifted its stake in RPC by 0.3% during the first quarter. Gabelli Funds LLC now owns 2,269,415 shares of the oil and gas company’s stock valued at $12,482,000 after purchasing an additional 6,938 shares during the last quarter. Van ECK Associates Corp boosted its holdings in RPC by 14.6% during the third quarter. Van ECK Associates Corp now owns 2,219,973 shares of the oil and gas company’s stock worth $10,567,000 after buying an additional 283,213 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in RPC by 4.1% in the second quarter. Geode Capital Management LLC now owns 2,078,778 shares of the oil and gas company’s stock worth $9,834,000 after buying an additional 82,457 shares during the last quarter. 41.06% of the stock is owned by institutional investors and hedge funds.

RPC Company Profile

RPC, Inc, through its subsidiaries, engages provision of a range of oilfield services and equipment for the oil and gas companies involved in the exploration, production, and development of oil and gas properties. The company operates through Technical Services and Support Services segments. The Technical Services segment offers pressure pumping, fracturing, acidizing, cementing, downhole tools, coiled tubing, snubbing, nitrogen, well control, wireline, pump down, and fishing services that are used in the completion, production, and maintenance of oil and gas wells.