Analysts Set RPC, Inc. (NYSE:RES) Target Price at $5.63

Shares of RPC, Inc. (NYSE:RES) have been assigned a consensus recommendation of “Reduce” from the five brokerages that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $5.6250.

RES has been the subject of a number of research reports. Wall Street Zen cut RPC from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of RPC in a research note on Tuesday, April 14th. Finally, Susquehanna increased their target price on RPC from $7.00 to $7.50 and gave the stock a “neutral” rating in a research report on Friday, May 8th.

RPC Trading Up 2.7%

Shares of RES stock opened at $6.99 on Wednesday. The firm has a 50-day moving average price of $7.09 and a 200 day moving average price of $6.29. RPC has a twelve month low of $4.18 and a twelve month high of $8.16. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of 77.61 and a beta of 0.62. The company has a current ratio of 3.13, a quick ratio of 2.61 and a debt-to-equity ratio of 0.03.

RPC (NYSE:RES) last posted its quarterly earnings data on Thursday, May 7th. The oil and gas company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. RPC had a net margin of 1.20% and a return on equity of 4.82%. The company had revenue of $454.76 million during the quarter, compared to the consensus estimate of $406.68 million. During the same quarter in the prior year, the company posted $0.06 EPS. The company’s quarterly revenue was up 36.6% compared to the same quarter last year. Research analysts forecast that RPC will post 0.2 earnings per share for the current fiscal year.

RPC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Monday, May 11th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Monday, May 11th. RPC’s payout ratio is presently 177.78%.

Institutional Trading of RPC

Institutional investors and hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its holdings in shares of RPC by 220.6% in the second quarter. EverSource Wealth Advisors LLC now owns 6,533 shares of the oil and gas company’s stock worth $31,000 after buying an additional 4,495 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of RPC by 243.4% in the second quarter. Tower Research Capital LLC TRC now owns 8,681 shares of the oil and gas company’s stock worth $41,000 after purchasing an additional 6,153 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of RPC during the 4th quarter valued at about $48,000. Hantz Financial Services Inc. lifted its holdings in shares of RPC by 940.3% during 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 buying an additional 8,237 shares during the last quarter. Finally, CWM LLC lifted its holdings in shares of RPC by 88.2% during the 4th quarter. CWM LLC now owns 9,316 shares of the oil and gas company’s stock valued at $51,000 after buying an additional 4,365 shares during the last quarter. 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.