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

RPC, Inc. (NYSE:RES) has received a consensus recommendation of “Reduce” from the five brokerages that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $5.6250.

RES has been the subject of a number of analyst reports. Susquehanna increased their target price on RPC from $7.00 to $7.50 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Wall Street Zen downgraded RPC from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of RPC in a research note on Tuesday, April 14th.

Hedge Funds Weigh In On RPC

A number of large investors have recently modified their holdings of the business. IES Holdings Inc. purchased a new position in RPC in the 4th quarter valued at approximately $14,144,000. Goldman Sachs Group Inc. increased its stake in RPC by 103.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,882,657 shares of the oil and gas company’s stock valued at $10,242,000 after purchasing an additional 956,370 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in RPC by 7.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,543,337 shares of the oil and gas company’s stock valued at $88,809,000 after purchasing an additional 883,118 shares in the last quarter. UBS Group AG increased its stake in RPC by 134.3% in the 3rd quarter. UBS Group AG now owns 1,499,425 shares of the oil and gas company’s stock valued at $7,137,000 after purchasing an additional 859,406 shares in the last quarter. Finally, Millennium Management LLC increased its stake in RPC by 394.6% in the 3rd quarter. Millennium Management LLC now owns 885,148 shares of the oil and gas company’s stock valued at $4,213,000 after purchasing an additional 706,181 shares in the last quarter. 41.06% of the stock is owned by hedge funds and other institutional investors.

RPC Stock Performance

Shares of RES stock opened at $7.13 on Wednesday. The company has a market cap of $1.58 billion, a price-to-earnings ratio of 79.22 and a beta of 0.69. The stock has a 50 day simple moving average of $7.10 and a 200-day simple moving average of $6.26. RPC has a 12-month low of $4.18 and a 12-month high of $8.16. The company has a current ratio of 3.13, a quick ratio of 2.61 and a debt-to-equity ratio of 0.03.

RPC (NYSE:RES) last issued its earnings results on Thursday, May 7th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The business had revenue of $454.76 million during the quarter, compared to the consensus estimate of $406.68 million. RPC had a return on equity of 4.82% and a net margin of 1.20%.The company’s revenue for the quarter was up 36.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.06 EPS. On average, equities analysts forecast that RPC will post 0.2 EPS for the current year.

RPC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Monday, May 11th will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Monday, May 11th. RPC’s dividend payout ratio is 177.78%.

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.