RPC, Inc. (NYSE:RES) Receives Consensus Rating of “Reduce” from Brokerages

RPC, Inc. (NYSE:RES) has earned an average recommendation of “Reduce” from the five brokerages that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $4.6875.

Several research analysts have recently commented on RES shares. Wall Street Zen raised shares of RPC from a “hold” rating to a “buy” rating in a report on Saturday. Piper Sandler cut their target price on shares of RPC from $5.00 to $4.00 and set an “underweight” rating on the stock in a report on Thursday, August 14th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of RPC in a report on Monday.

Institutional Investors Weigh In On RPC

A number of hedge funds have recently added to or reduced their stakes in RES. American Century Companies Inc. boosted its holdings in shares of RPC by 8.4% during the third quarter. American Century Companies Inc. now owns 3,960,190 shares of the oil and gas company’s stock valued at $18,851,000 after acquiring an additional 308,361 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in RPC by 31.5% in the 2nd 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 last quarter. Gabelli Funds LLC lifted its position in RPC by 0.3% in the 1st quarter. Gabelli Funds LLC now owns 2,269,415 shares of the oil and gas company’s stock valued at $12,482,000 after purchasing an additional 6,938 shares during the last quarter. Van ECK Associates Corp boosted its stake in RPC by 14.6% during the 3rd quarter. Van ECK Associates Corp now owns 2,219,973 shares of the oil and gas company’s stock valued at $10,567,000 after purchasing an additional 283,213 shares during the period. Finally, Geode Capital Management LLC grew its position in RPC by 4.1% in the 2nd quarter. Geode Capital Management LLC now owns 2,078,778 shares of the oil and gas company’s stock worth $9,834,000 after purchasing an additional 82,457 shares during the last quarter. 41.06% of the stock is currently owned by institutional investors.

RPC Price Performance

Shares of NYSE RES opened at $5.41 on Wednesday. The company has a current ratio of 2.64, a quick ratio of 2.16 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 20.79 and a beta of 0.80. RPC has a twelve month low of $4.10 and a twelve month high of $7.17. The business has a 50 day simple moving average of $4.99 and a 200-day simple moving average of $4.82.

RPC (NYSE:RES) last announced its quarterly earnings data on Wednesday, November 16th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter. RPC had a return on equity of 5.65% and a net margin of 3.77%.The firm had revenue of $225.31 million for the quarter. As a group, equities research analysts expect that RPC will post 0.31 earnings per share for the current year.

RPC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Monday, November 10th will be given a dividend of $0.04 per share. The ex-dividend date is Monday, November 10th. This represents a $0.16 dividend on an annualized basis and a yield of 3.0%. RPC’s payout ratio is currently 69.57%.

RPC Company Profile

RPC, Inc, through its subsidiaries, engages provision of a range of oilfield services and equipment for the oil and gas companies involved in the exploration, production, and development of oil and gas properties. The company operates through Technical Services and Support Services segments. The Technical Services segment offers pressure pumping, fracturing, acidizing, cementing, downhole tools, coiled tubing, snubbing, nitrogen, well control, wireline, pump down, and fishing services that are used in the completion, production, and maintenance of oil and gas wells.