RPC, Inc. (NYSE:RES) Given Consensus Rating of “Reduce” by Analysts

Shares of RPC, Inc. (NYSE:RES) have received an average recommendation of “Reduce” from the five analysts that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $5.00.

RES has been the subject of several recent research reports. Citigroup boosted their price target on RPC from $5.75 to $6.00 and gave the stock a “neutral” rating in a research report on Thursday, December 11th. Wall Street Zen downgraded shares of RPC from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. Piper Sandler reissued an “underweight” rating on shares of RPC in a research report on Thursday, December 18th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of RPC in a research report on Monday, December 22nd.

RPC Stock Down 0.5%

Shares of RPC stock opened at $5.44 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.78 and a quick ratio of 2.31. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 23.63 and a beta of 0.63. The firm’s 50-day moving average is $5.36 and its two-hundred day moving average is $4.95. RPC has a 1 year low of $4.10 and a 1 year high of $7.17.

RPC (NYSE:RES) last posted its quarterly earnings results on Wednesday, November 16th. The oil and gas company reported $0.02 EPS for the quarter. The business had revenue of $225.31 million during the quarter. RPC had a net margin of 3.12% and a return on equity of 5.58%. As a group, research analysts expect that RPC will post 0.31 earnings per share for the current fiscal year.

RPC Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Monday, November 10th. RPC’s payout ratio is currently 69.57%.

Institutional Trading of RPC

A number of institutional investors have recently made changes to their positions in RES. Danske Bank A S acquired a new position in RPC during the 3rd quarter valued at about $520,000. Voleon Capital Management LP acquired a new stake in RPC in the third quarter worth about $452,000. Verition Fund Management LLC grew its stake in shares of RPC by 73.9% during the third quarter. Verition Fund Management LLC now owns 90,827 shares of the oil and gas company’s stock worth $432,000 after acquiring an additional 38,595 shares during the last quarter. Prelude Capital Management LLC acquired a new position in shares of RPC during the third quarter valued at about $86,000. Finally, Mariner LLC raised its position in shares of RPC by 3.3% in the 3rd quarter. Mariner LLC now owns 76,699 shares of the oil and gas company’s stock valued at $365,000 after purchasing an additional 2,446 shares during the last quarter. Institutional investors and hedge funds own 41.06% of the company’s stock.

About RPC

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.