RPC, Inc. (NYSE:RES) Receives $5.25 Consensus Target Price from Brokerages

Shares of RPC, Inc. (NYSE:RES) have been assigned a consensus recommendation of “Reduce” from the five research firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $5.25.

Several research analysts recently weighed in on RES shares. Susquehanna boosted their price target on shares of RPC from $5.50 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday, January 7th. Citigroup lifted their target price on shares of RPC from $5.75 to $6.00 and gave the stock a “neutral” rating in a research report on Thursday, December 11th. Weiss Ratings restated a “hold (c-)” rating on shares of RPC in a research note on Monday, December 29th. Piper Sandler reaffirmed an “underweight” rating on shares of RPC in a research report on Thursday, December 18th. Finally, Wall Street Zen downgraded RPC from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th.

Hedge Funds Weigh In On RPC

Hedge funds and other institutional investors have recently made changes to their positions in the stock. IES Holdings Inc. purchased a new stake in RPC during the fourth quarter worth about $14,144,000. Carolina Wealth Advisors LLC grew its position in shares of RPC by 7,851.8% during the 3rd quarter. Carolina Wealth Advisors LLC now owns 1,277,544 shares of the oil and gas company’s stock valued at $6,081,000 after acquiring an additional 1,261,478 shares during the period. Congress Asset Management Co. purchased a new stake in shares of RPC during the 3rd quarter worth approximately $5,959,000. Goldman Sachs Group Inc. increased its stake in shares of RPC by 103.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,882,657 shares of the oil and gas company’s stock worth $10,242,000 after purchasing an additional 956,370 shares during the last quarter. Finally, Brandywine Global Investment Management LLC bought a new stake in shares of RPC in the 2nd quarter worth approximately $4,465,000. 41.06% of the stock is owned by hedge funds and other institutional investors.

RPC Stock Down 0.2%

Shares of NYSE:RES opened at $6.10 on Monday. The business’s 50 day moving average is $5.87 and its 200 day moving average is $5.24. RPC has a 12-month low of $4.10 and a 12-month high of $6.85. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 40.63 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.

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

RPC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 10th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $0.16 annualized dividend and a dividend yield of 2.6%. RPC’s dividend payout ratio (DPR) is currently 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.