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

RPC, Inc. (NYSE:RES) has been assigned an average rating of “Reduce” from the five ratings firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $5.6250.

RES has been the subject of several recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of RPC in a report on Tuesday, April 14th. Susquehanna increased their price objective on RPC from $7.00 to $7.50 and gave the stock a “neutral” rating in a report on Friday, May 8th.

Hedge Funds Weigh In On RPC

Institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC raised its holdings in 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 buying an additional 4,495 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in 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 valued at $41,000 after buying an additional 6,153 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in RPC during the fourth quarter valued at about $48,000. CWM LLC raised its holdings in RPC by 88.2% during the fourth quarter. CWM LLC now owns 9,316 shares of the oil and gas company’s stock valued at $51,000 after buying an additional 4,365 shares in the last quarter. Finally, Range Financial Group LLC bought a new position in RPC during the fourth quarter valued at about $59,000. 41.06% of the stock is currently owned by institutional investors.

RPC Price Performance

Shares of NYSE:RES opened at $6.58 on Friday. 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 has a 1 year low of $4.18 and a 1 year high of $8.16. The business has a fifty day simple moving average of $7.08 and a 200 day simple moving average of $6.45. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 73.06 and a beta of 0.62.

RPC (NYSE:RES) last announced its quarterly earnings data on Thursday, May 7th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.02. RPC had a return on equity of 4.82% and a net margin of 1.20%.The business had revenue of $454.76 million during the quarter, compared to analyst estimates of $406.68 million. During the same period last year, the company earned $0.06 earnings per share. RPC’s quarterly revenue was up 36.6% compared to the same quarter last year. As a group, sell-side analysts predict that RPC will post 0.2 earnings per share for the current fiscal year.

RPC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Monday, May 11th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 2.4%. The ex-dividend date was Monday, May 11th. RPC’s dividend payout ratio (DPR) 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.