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

Shares of RPC, Inc. (NYSE:RES) have received a consensus rating of “Reduce” from the five analysts that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $5.25.

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

Hedge Funds Weigh In On RPC

A number of institutional investors and hedge funds have recently modified their holdings of the business. Allianz Asset Management GmbH acquired a new stake in RPC in the third quarter worth $491,000. Congress Asset Management Co. acquired a new position in shares of RPC during the third quarter valued at about $5,959,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of RPC by 31.5% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,800,246 shares of the oil and gas company’s stock valued at $13,245,000 after purchasing an additional 670,432 shares during the period. Citigroup Inc. boosted its position in shares of RPC by 100.4% during the 3rd quarter. Citigroup Inc. now owns 429,767 shares of the oil and gas company’s stock worth $2,046,000 after purchasing an additional 215,350 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of RPC during the 2nd quarter worth about $259,000. 41.06% of the stock is currently owned by institutional investors.

RPC Stock Performance

Shares of RES stock opened at $6.86 on Friday. The stock has a market capitalization of $1.52 billion, a PE ratio of 45.70 and a beta of 0.69. The business’s 50 day simple moving average is $6.14 and its 200 day simple moving average is $5.47. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.24 and a quick ratio of 2.70. RPC has a one year low of $4.10 and a one year high of $7.19.

RPC (NYSE:RES) last released its quarterly earnings results on Tuesday, February 3rd. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.03). The firm had revenue of $425.78 million for the quarter, compared to the consensus estimate of $423.30 million. RPC had a return on equity of 5.24% and a net margin of 1.97%.The firm’s revenue for the quarter was up 26.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.06 EPS. As a group, research analysts forecast that RPC will post 0.31 earnings per share for the current year.

RPC Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 10th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Tuesday, February 10th. RPC’s payout ratio is presently 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.