RPC, Inc. (NYSE:RES) Receives Consensus Recommendation of “Reduce” from Analysts

RPC, Inc. (NYSE:RES) has been assigned an average rating of “Reduce” from the five brokerages that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $5.00.

Several equities analysts recently weighed in on RES shares. Citigroup increased their price target on shares of RPC from $5.75 to $6.00 and gave the stock a “neutral” rating in a report on Thursday, December 11th. Wall Street Zen cut RPC from a “buy” rating to a “hold” rating in a research report on Saturday, December 13th. Weiss Ratings reissued a “hold (c-)” rating on shares of RPC in a report on Monday, December 22nd. Finally, Piper Sandler restated an “underweight” rating on shares of RPC in a research report on Thursday, December 18th.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC lifted its holdings in RPC by 220.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,533 shares of the oil and gas company’s stock worth $31,000 after buying an additional 4,495 shares in the last quarter. Tower Research Capital LLC TRC increased its position in shares of RPC by 243.4% during the second quarter. Tower Research Capital LLC TRC now owns 8,681 shares of the oil and gas company’s stock worth $41,000 after acquiring an additional 6,153 shares during the period. Hantz Financial Services Inc. raised its stake in shares of RPC by 940.3% in the third quarter. Hantz Financial Services Inc. now owns 9,113 shares of the oil and gas company’s stock valued at $43,000 after acquiring an additional 8,237 shares in the last quarter. State of Wyoming acquired a new stake in shares of RPC in the first quarter valued at $53,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in RPC in the second quarter valued at $47,000. 41.06% of the stock is currently owned by institutional investors and hedge funds.

RPC Trading Down 0.5%

NYSE:RES opened at $5.44 on Friday. The company has a market capitalization of $1.20 billion, a P/E ratio of 23.63 and a beta of 0.63. The company has a current ratio of 2.78, a quick ratio of 2.31 and a debt-to-equity ratio of 0.03. RPC has a 12 month low of $4.10 and a 12 month high of $7.17. The firm has a fifty day simple moving average of $5.36 and a 200-day simple moving average of $4.95.

RPC (NYSE:RES) last released its 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 5.58% and a net margin of 3.12%.The firm had revenue of $225.31 million for the quarter. On average, equities research analysts anticipate that RPC will post 0.31 earnings per share for the current year.

RPC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $0.16 dividend on an annualized basis and a yield of 2.9%. RPC’s payout ratio is 69.57%.

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.