Analysts Set RPC, Inc. (NYSE:RES) Target Price at $5.25

RPC, Inc. (NYSE:RES) has been assigned an average rating of “Reduce” from the five ratings firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $5.25.

A number of research analysts recently commented on RES shares. Piper Sandler restated an “underweight” rating on shares of RPC in a research note on Thursday, December 18th. Susquehanna boosted their price target on shares of RPC from $5.50 to $6.00 and gave the company a “neutral” rating in a report on Wednesday, January 7th. Citigroup increased their price objective 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. Wall Street Zen raised shares of RPC from a “hold” rating to a “buy” rating in a report on Saturday, January 17th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of RPC in a research note on Monday, December 29th.

RPC Stock Performance

Shares of RPC stock opened at $6.44 on Thursday. RPC has a 1 year low of $4.10 and a 1 year high of $7.04. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.31 and a current ratio of 2.78. The firm has a market cap of $1.42 billion, a PE ratio of 27.98 and a beta of 0.63. The firm’s 50-day simple moving average is $5.67 and its 200-day simple moving average is $5.08.

RPC (NYSE:RES) last posted its quarterly earnings results on Thursday, October 30th. The oil and gas company reported $0.09 EPS 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 firm had revenue of $447.10 million during the quarter, compared to analysts’ expectations of $402.31 million. During the same quarter in the prior year, the firm posted $0.09 EPS. The company’s revenue for the quarter was up 32.4% on a year-over-year basis. Equities analysts forecast that RPC will post 0.31 earnings per share 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 issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Monday, November 10th. RPC’s payout ratio is presently 69.57%.

Hedge Funds Weigh In On RPC

Several hedge funds and other institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its stake in RPC by 220.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,533 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 4,495 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of RPC by 243.4% during the second quarter. Tower Research Capital LLC TRC now owns 8,681 shares of the oil and gas company’s stock valued at $41,000 after acquiring an additional 6,153 shares during the period. Hantz Financial Services Inc. boosted its stake in shares of RPC by 940.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 9,113 shares of the oil and gas company’s stock valued at $43,000 after purchasing an additional 8,237 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of RPC in the 2nd quarter valued at $47,000. Finally, Range Financial Group LLC bought a new stake in shares of RPC in the 4th quarter worth about $59,000. Institutional investors own 41.06% of the company’s stock.

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.