RPC (NYSE:RES) Price Target Raised to $7.00 at Susquehanna

RPC (NYSE:RES) had its target price increased by Susquehanna from $6.00 to $7.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

RES has been the subject of a number of other research reports. Wall Street Zen cut RPC from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Piper Sandler reaffirmed an “underweight” rating on shares of RPC in a research report on Thursday, December 18th. 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. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of RPC in a research report on Monday, December 29th. Four research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $5.50.

RPC Stock Performance

Shares of NYSE RES opened at $6.97 on Tuesday. The business’s 50-day moving average price is $6.34 and its two-hundred day moving average price is $5.69. 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 one year low of $4.18 and a one year high of $7.41. The company has a market capitalization of $1.54 billion, a P/E ratio of 46.43 and a beta of 0.61.

RPC (NYSE:RES) last issued its earnings results on Tuesday, February 3rd. The oil and gas company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). RPC had a net margin of 1.97% and a return on equity of 5.24%. The firm had revenue of $425.78 million during the quarter, compared to analysts’ expectations of $423.30 million. During the same quarter last year, the firm earned $0.06 EPS. The business’s revenue for the quarter was up 26.9% compared to the same quarter last year. Analysts anticipate that RPC will post 0.31 earnings per share for the current fiscal year.

RPC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 10th were given a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.3%. RPC’s payout ratio is currently 106.67%.

Hedge Funds Weigh In On RPC

Several large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP lifted its position in shares of RPC by 1.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 11,660,219 shares of the oil and gas company’s stock worth $63,432,000 after purchasing an additional 213,956 shares during the last quarter. State Street Corp lifted its position in shares of RPC by 6.1% during the 4th quarter. State Street Corp now owns 4,049,407 shares of the oil and gas company’s stock worth $22,029,000 after purchasing an additional 233,646 shares during the last quarter. American Century Companies Inc. lifted its position in shares of RPC by 8.4% during the 3rd quarter. American Century Companies Inc. now owns 3,960,190 shares of the oil and gas company’s stock worth $18,851,000 after purchasing an additional 308,361 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of RPC by 31.5% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,800,246 shares of the oil and gas company’s stock worth $13,245,000 after purchasing an additional 670,432 shares during the last quarter. Finally, IES Holdings Inc. acquired a new position in shares of RPC during the 4th quarter worth about $14,144,000. Institutional investors and hedge funds 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.