RPC (NYSE:RES) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of RPC (NYSE:RES) from a hold rating to a buy rating in a report issued on Saturday.

RES has been the subject of several other reports. Weiss Ratings restated a “hold (c-)” rating on shares of RPC in a report on Monday, December 29th. Susquehanna boosted their price objective on shares of RPC from $5.50 to $6.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 7th. Citigroup raised their target price on shares of RPC from $5.75 to $6.00 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Finally, Piper Sandler reissued an “underweight” rating on shares of RPC in a research report on Thursday, December 18th. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $5.25.

RPC Stock Down 0.9%

RES stock opened at $6.14 on Friday. The firm has a market cap of $1.35 billion, a PE ratio of 26.67 and a beta of 0.63. RPC has a 1 year low of $4.10 and a 1 year high of $7.17. The company has a fifty day simple moving average of $5.59 and a 200 day simple moving average of $5.04. The company has a current ratio of 2.78, a quick ratio of 2.31 and a debt-to-equity ratio of 0.03.

RPC (NYSE:RES) last posted its earnings results on Thursday, October 30th. The oil and gas company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.04. RPC had a return on equity of 5.58% and a net margin of 3.12%.The company had revenue of $447.10 million for the quarter, compared to analyst estimates of $402.31 million. During the same period last year, the company earned $0.09 earnings per share. The business’s revenue was up 32.4% compared to the same quarter last year. Sell-side analysts anticipate that RPC will post 0.31 EPS for the current fiscal year.

RPC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th were given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 2.6%. The ex-dividend date was Monday, November 10th. RPC’s dividend payout ratio (DPR) is presently 69.57%.

Institutional Trading of RPC

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RES. Range Financial Group LLC acquired a new position in shares of RPC during the 4th quarter worth about $59,000. Wedge Capital Management L L P NC increased its holdings in shares of RPC by 7.2% in the fourth quarter. Wedge Capital Management L L P NC now owns 185,693 shares of the oil and gas company’s stock worth $1,010,000 after acquiring an additional 12,396 shares in the last quarter. Congress Asset Management Co. grew its position in shares of RPC by 1.9% in the 4th quarter. Congress Asset Management Co. now owns 1,275,349 shares of the oil and gas company’s stock valued at $6,938,000 after purchasing an additional 23,523 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in RPC during the 4th quarter worth approximately $67,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of RPC by 2.8% during the third quarter. JPMorgan Chase & Co. now owns 447,155 shares of the oil and gas company’s stock worth $2,128,000 after acquiring an additional 12,214 shares during the period. 41.06% of the stock is currently owned by institutional investors and hedge funds.

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.