RPC (RES) Shares Down 6%
RPC, Inc. (NYSE:RES)’s share price was down 6% on Thursday . The company traded as low as $18.52 and last traded at $18.53. Approximately 3,392,948 shares traded hands during trading, an increase of 28% from the average daily volume of 2,642,735 shares. The stock had previously closed at $19.72.
Several equities research analysts recently commented on RES shares. Stephens started coverage on shares of RPC in a research report on Tuesday, January 9th. They issued an “equal weight” rating and a $28.00 price objective on the stock. B. Riley set a $27.00 price objective on shares of RPC and gave the stock a “buy” rating in a research report on Tuesday, November 14th. Barclays set a $21.00 price objective on shares of RPC and gave the stock a “hold” rating in a research report on Friday, October 27th. Wells Fargo & Co reiterated a “market perform” rating on shares of RPC in a research report on Friday, January 12th. Finally, FBR & Co set a $27.00 price objective on shares of RPC and gave the stock a “buy” rating in a research report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. RPC currently has a consensus rating of “Hold” and an average price target of $24.75.
The company has a market capitalization of $4,010.00, a price-to-earnings ratio of 28.08, a PEG ratio of 0.69 and a beta of 0.73.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 9th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.16%. This is a positive change from RPC’s previous quarterly dividend of $0.07. The ex-dividend date is Thursday, February 8th. RPC’s dividend payout ratio is 42.42%.
A number of large investors have recently added to or reduced their stakes in RES. Alyeska Investment Group L.P. purchased a new position in RPC in the 3rd quarter valued at about $47,921,000. Victory Capital Management Inc. lifted its holdings in RPC by 244.9% in the 3rd quarter. Victory Capital Management Inc. now owns 2,066,941 shares of the oil and gas company’s stock valued at $51,239,000 after purchasing an additional 1,467,661 shares in the last quarter. Van ECK Associates Corp purchased a new position in RPC in the 3rd quarter valued at about $36,128,000. Vanguard Group Inc. lifted its holdings in RPC by 20.4% in the 2nd quarter. Vanguard Group Inc. now owns 6,076,306 shares of the oil and gas company’s stock valued at $122,802,000 after purchasing an additional 1,028,001 shares in the last quarter. Finally, Cambiar Investors LLC lifted its holdings in shares of RPC by 272.4% during the 3rd quarter. Cambiar Investors LLC now owns 720,583 shares of the oil and gas company’s stock worth $17,863,000 after acquiring an additional 527,079 shares during the period. Institutional investors own 37.74% of the company’s stock.
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RPC Company Profile
RPC, Inc (RPC) is a holding company for several oilfield services companies. The Company provides a range of specialized oilfield services and equipment primarily to independent oil and gas companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the southwest, mid-continent, Gulf of Mexico, Rocky Mountain and Appalachian regions, and in selected international markets.
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