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

RPC, Inc. (NYSE:RES) has received a consensus rating of “Reduce” from the five ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $5.25.

A number of equities research analysts have recently issued reports on RES shares. Wall Street Zen lowered shares of RPC from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Citigroup upped their price objective on RPC from $5.75 to $6.00 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Susquehanna boosted their price target on RPC from $5.50 to $6.00 and gave the company a “neutral” rating in a report on Wednesday, January 7th. Weiss Ratings reissued a “hold (c-)” rating on shares of RPC in a research report on Monday, December 29th. Finally, Piper Sandler reaffirmed an “underweight” rating on shares of RPC in a report on Thursday, December 18th.

Hedge Funds Weigh In On RPC

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC grew its holdings in shares of RPC by 220.6% during the second quarter. EverSource Wealth Advisors LLC now owns 6,533 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 4,495 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in RPC by 243.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,681 shares of the oil and gas company’s stock valued at $41,000 after purchasing an additional 6,153 shares during the period. Hantz Financial Services Inc. increased its position in 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 worth $43,000 after buying an additional 8,237 shares during the period. CWM LLC increased its position in RPC by 88.2% in the fourth quarter. CWM LLC now owns 9,316 shares of the oil and gas company’s stock worth $51,000 after buying an additional 4,365 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake 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 Stock Performance

Shares of RES opened at $5.82 on Monday. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 38.77 and a beta of 0.72. The company has a quick ratio of 2.70, a current ratio of 3.24 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average is $5.86 and its two-hundred day moving average is $5.20. RPC has a 52-week low of $4.10 and a 52-week high of $6.85.

RPC (NYSE:RES) last issued its quarterly earnings results on Tuesday, February 3rd. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The company had revenue of $425.78 million during the quarter, compared to the consensus estimate of $423.30 million. RPC had a return on equity of 5.24% and a net margin of 1.97%.The firm’s quarterly revenue was up 26.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.06 EPS. Analysts forecast that RPC will post 0.31 EPS for the current fiscal year.

RPC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 10th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $0.16 annualized dividend and a dividend yield of 2.8%. RPC’s payout ratio is 106.67%.

RPC Company Profile

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.