RPC (NYSE:RES) Cut to Sell at Freedom Broker

Freedom Broker downgraded shares of RPC (NYSE:RES) from a hold rating to a sell rating in a research report sent to investors on Friday,Benzinga reports. They currently have $5.00 price objective on the oil and gas company’s stock, down from their prior price objective of $6.00.

Several other research analysts have also recently commented on the stock. Weiss Ratings cut shares of RPC from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, September 16th. Susquehanna dropped their target price on shares of RPC from $7.50 to $6.00 and set a “neutral” rating for the company in a report on Wednesday, July 8th. Finally, Evercore cut RPC to an “outperform” rating in a report on Friday. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $5.67.

RPC Price Performance

NYSE:RES opened at $6.17 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.85 and a current ratio of 3.52. The stock has a market capitalization of $1.37 billion, a P/E ratio of -36.29 and a beta of 0.82. The company’s 50-day simple moving average is $6.15 and its 200-day simple moving average is $6.37. RPC has a fifty-two week low of $4.99 and a fifty-two week high of $8.16.

RPC (NYSE:RES) last issued its earnings results on Thursday, October 29th. The oil and gas company reported $0.10 EPS for the quarter, meeting analysts’ consensus estimates of $0.10. RPC had a positive return on equity of 5.26% and a negative net margin of 1.77%. The firm had revenue of $467.74 million for the quarter, compared to analyst estimates of $469.12 million. During the same quarter in the prior year, the firm earned $0.09 earnings per share. RPC’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, equities analysts anticipate that RPC will post 0.26 earnings per share for the current fiscal year.

RPC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Tuesday, November 10th will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Tuesday, November 10th. RPC’s dividend payout ratio is currently -94.12%.

Hedge Funds Weigh In On RPC

Several hedge funds have recently modified their holdings of RES. USA Financial Formulas bought a new stake in RPC in the third quarter worth about $40,000. GAMMA Investing LLC raised its position in shares of RPC by 28.7% during the third quarter. GAMMA Investing LLC now owns 7,892 shares of the oil and gas company’s stock worth $44,000 after purchasing an additional 1,761 shares during the period. State of Wyoming purchased a new stake in shares of RPC during the second quarter valued at $54,000. Commerce Bank acquired a new position in shares of RPC in the 2nd quarter valued at $62,000. Finally, PDT Partners LLC purchased a new position in RPC in the 2nd quarter worth about $77,000. 41.06% of the stock is currently owned by institutional investors and hedge funds.

About RPC

RPC, Inc (NYSE: RES) is an oilfield services company that provides specialized equipment and services to energy producers and exploration and production companies. Its offerings support the drilling, completion, production and maintenance of oil and natural gas wells.

The company’s services include pressure pumping, coiled tubing, well control, nitrogen services, downhole tools, well testing, fishing and rental equipment. These services are used in activities such as hydraulic fracturing, well intervention, workover operations and production enhancement.

RPC was founded in 1984 and is headquartered in Atlanta, Georgia.