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

Shares of RPC, Inc. (NYSE:RES) have earned a consensus rating of “Reduce” from the five brokerages that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $5.25.

RES has been the topic of several research analyst reports. Susquehanna upped their target price on shares of RPC from $5.50 to $6.00 and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Citigroup boosted their price objective on shares of RPC from $5.75 to $6.00 and gave the company a “neutral” rating in a report on Thursday, December 11th. Weiss Ratings restated a “hold (c-)” rating on shares of RPC in a research report on Monday, December 29th. Piper Sandler restated an “underweight” rating on shares of RPC in a report on Thursday, December 18th. Finally, Wall Street Zen downgraded shares of RPC from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th.

RPC Stock Down 0.7%

RES stock opened at $6.53 on Friday. The stock has a market capitalization of $1.45 billion, a P/E ratio of 43.51 and a beta of 0.69. 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 1-year low of $4.10 and a 1-year high of $6.85. The business has a fifty day moving average price of $6.05 and a 200-day moving average price of $5.42.

RPC (NYSE:RES) last released its quarterly earnings data on Tuesday, February 3rd. The oil and gas company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.03). RPC had a net margin of 1.97% and a return on equity of 5.24%. The business had revenue of $425.78 million for the quarter, compared to analysts’ expectations of $423.30 million. During the same period last year, the business earned $0.06 earnings per share. The company’s quarterly revenue was up 26.9% 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 company also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 10th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date was Tuesday, February 10th. RPC’s dividend payout ratio (DPR) is 106.67%.

Institutional Trading of RPC

A number of hedge funds have recently bought and sold shares of RES. Virtu Financial LLC bought a new position in RPC in the fourth quarter valued at about $100,000. Invesco Ltd. grew its stake in shares of RPC by 0.5% during the 4th quarter. Invesco Ltd. now owns 1,086,721 shares of the oil and gas company’s stock valued at $5,912,000 after purchasing an additional 5,211 shares during the period. Mercer Global Advisors Inc. ADV increased its position in shares of RPC by 52.1% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 23,125 shares of the oil and gas company’s stock valued at $126,000 after purchasing an additional 7,918 shares during the last quarter. Vident Advisory LLC bought a new position in shares of RPC in the 4th quarter worth approximately $601,000. Finally, Empowered Funds LLC lifted its stake in shares of RPC by 3.5% in the 4th quarter. Empowered Funds LLC now owns 1,053,024 shares of the oil and gas company’s stock worth $5,728,000 after purchasing an additional 35,975 shares during the period. Hedge funds and other institutional investors 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.