Shares of RPC, Inc. (NYSE:RES) have earned a consensus rating of “Hold” from the nineteen brokerages that are presently covering the company, Marketbeat Ratings reports. Ten analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $23.89.
Several brokerages have recently weighed in on RES. Seaport Global Securities reissued a “neutral” rating on shares of RPC in a research report on Wednesday, July 26th. Jefferies Group LLC set a $26.00 target price on RPC and gave the stock a “buy” rating in a research report on Wednesday, May 17th. Zacks Investment Research lowered RPC from a “buy” rating to a “hold” rating in a research report on Tuesday, July 18th. Piper Jaffray Companies reissued a “neutral” rating and set a $20.50 target price (up previously from $18.75) on shares of RPC in a research report on Wednesday, July 12th. Finally, Wolfe Research lowered RPC from an “outperform” rating to a “market perform” rating and set a $20.00 target price on the stock. in a research report on Monday, April 17th.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Flinton Capital Management LLC increased its stake in RPC by 86.9% in the first quarter. Flinton Capital Management LLC now owns 7,296 shares of the oil and gas company’s stock worth $134,000 after buying an additional 3,392 shares during the period. Meadow Creek Investment Management LLC increased its stake in RPC by 86.9% in the first quarter. Meadow Creek Investment Management LLC now owns 10,032 shares of the oil and gas company’s stock worth $184,000 after buying an additional 4,664 shares during the period. Pacer Advisors Inc. increased its stake in RPC by 22.0% in the first quarter. Pacer Advisors Inc. now owns 10,144 shares of the oil and gas company’s stock worth $186,000 after buying an additional 1,830 shares during the period. BNP Paribas Arbitrage SA increased its stake in RPC by 40.9% in the first quarter. BNP Paribas Arbitrage SA now owns 10,503 shares of the oil and gas company’s stock worth $192,000 after buying an additional 3,048 shares during the period. Finally, Advisory Services Network LLC acquired a new stake in RPC during the first quarter worth $206,000. Institutional investors own 38.43% of the company’s stock.
Shares of RPC (RES) opened at 19.48 on Tuesday. The stock’s 50 day moving average price is $20.47 and its 200-day moving average price is $19.60. The stock’s market cap is $4.23 billion. RPC has a 52 week low of $14.18 and a 52 week high of $23.36.
RPC (NYSE:RES) last issued its earnings results on Wednesday, July 26th. The oil and gas company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.06. RPC had a negative return on equity of 1.74% and a negative net margin of 1.15%. The business had revenue of $399 million for the quarter, compared to analyst estimates of $415.65 million. During the same quarter last year, the company earned ($0.23) EPS. The business’s quarterly revenue was up 179.0% on a year-over-year basis. Equities analysts anticipate that RPC will post $0.84 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Thursday, August 10th will be paid a $0.06 dividend. This is an increase from RPC’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Tuesday, August 8th. RPC’s dividend payout ratio (DPR) is -183.30%.
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RPC, Inc (RPC) is a holding company for several oilfield services companies. The Company provides a range of specialized oilfield services and equipment primarily to independent oil and gas companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the southwest, mid-continent, Gulf of Mexico, Rocky Mountain and Appalachian regions, and in selected international markets.
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