RPC (NYSE:RES) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of RPC (NYSE:RES) from a buy rating to a hold rating in a research report sent to investors on Saturday.

Several other analysts have also issued reports on RES. Citigroup boosted their target price on RPC from $5.75 to $6.00 and gave the company a “neutral” rating in a research note on Thursday. Weiss Ratings reiterated a “hold (c-)” rating on shares of RPC in a research report on Monday, December 8th. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $5.00.

RPC Stock Performance

RES opened at $5.75 on Friday. The company has a market cap of $1.27 billion, a price-to-earnings ratio of 24.98 and a beta of 0.63. RPC has a 1-year low of $4.10 and a 1-year high of $7.17. The company’s fifty day moving average price is $5.17 and its two-hundred day moving average price is $4.90. The company has a current ratio of 2.78, a quick ratio of 2.31 and a debt-to-equity ratio of 0.03.

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

RPC Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Monday, November 10th. RPC’s dividend payout ratio (DPR) is presently 69.57%.

Institutional Investors Weigh In On RPC

A number of institutional investors have recently made changes to their positions in the company. Danske Bank A S bought a new position in shares of RPC during the third quarter valued at $520,000. Voleon Capital Management LP bought a new position in shares of RPC in the 3rd quarter valued at about $452,000. Verition Fund Management LLC boosted its stake in 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 buying an additional 38,595 shares during the period. Prelude Capital Management LLC purchased a new position in RPC during the 3rd quarter valued at $86,000. Finally, Mariner LLC increased its stake in RPC by 3.3% in the 3rd quarter. Mariner LLC now owns 76,699 shares of the oil and gas company’s stock worth $365,000 after buying an additional 2,446 shares during the period. Hedge funds and other institutional investors own 41.06% of the company’s stock.

About RPC

RPC, Inc, through its subsidiaries, engages provision of a range of oilfield services and equipment for the oil and gas companies involved in the exploration, production, and development of oil and gas properties. The company operates through Technical Services and Support Services segments. The Technical Services segment offers pressure pumping, fracturing, acidizing, cementing, downhole tools, coiled tubing, snubbing, nitrogen, well control, wireline, pump down, and fishing services that are used in the completion, production, and maintenance of oil and gas wells.