RPC (RES) Coverage Initiated by Analysts at Stephens

Stephens started coverage on shares of RPC (NYSE:RES) in a report published on Tuesday morning, MarketBeat.com reports. The firm issued an equal weight rating and a $28.00 target price on the oil and gas company’s stock.

Several other research analysts have also recently issued reports on the stock. Jefferies Group set a $25.00 target price on shares of RPC and gave the stock a hold rating in a report on Thursday, October 26th. Morgan Stanley cut shares of RPC from an equal weight rating to an underweight rating and set a $25.00 target price on the stock. in a report on Tuesday, November 14th. They noted that the move was a valuation call. Credit Suisse Group cut shares of RPC from an outperform rating to a neutral rating in a report on Friday, October 13th. They noted that the move was a valuation call. Raymond James Financial cut shares of RPC from a strong-buy rating to an outperform rating in a report on Thursday, October 26th. Finally, TheStreet upgraded shares of RPC from a c+ rating to a b rating in a report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $25.18.

RPC (NYSE:RES) traded down $1.78 during midday trading on Tuesday, hitting $24.27. 3,220,973 shares of the stock were exchanged, compared to its average volume of 1,594,971. The company has a market capitalization of $5,260.00, a PE ratio of 63.87, a PEG ratio of 0.90 and a beta of 1.14. RPC has a 12-month low of $16.63 and a 12-month high of $27.07.

RPC (NYSE:RES) last issued its earnings results on Wednesday, October 25th. The oil and gas company reported $0.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.03). RPC had a return on equity of 10.31% and a net margin of 6.03%. The business had revenue of $471.00 million for the quarter, compared to the consensus estimate of $474.41 million. During the same quarter in the previous year, the company earned ($0.18) earnings per share. The firm’s revenue was up 167.8% on a year-over-year basis. sell-side analysts expect that RPC will post 0.81 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, December 11th. Stockholders of record on Friday, November 10th were issued a $0.07 dividend. This is a boost from RPC’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Thursday, November 9th. RPC’s dividend payout ratio (DPR) is currently 73.68%.

In other news, Director Amy Rollins Kreisler purchased 5,000 shares of the stock in a transaction dated Friday, October 27th. The shares were acquired at an average cost of $23.21 per share, for a total transaction of $116,050.00. Following the acquisition, the director now owns 5,000 shares of the company’s stock, valued at $116,050. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 73.50% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. Alyeska Investment Group L.P. purchased a new position in shares of RPC in the 3rd quarter valued at approximately $47,921,000. Victory Capital Management Inc. raised its position in shares of RPC by 244.9% in the 3rd quarter. Victory Capital Management Inc. now owns 2,066,941 shares of the oil and gas company’s stock valued at $51,239,000 after purchasing an additional 1,467,661 shares during the last quarter. Van ECK Associates Corp purchased a new position in shares of RPC in the 3rd quarter valued at approximately $36,128,000. Vanguard Group Inc. raised its position in shares of RPC by 20.4% in the 2nd quarter. Vanguard Group Inc. now owns 6,076,306 shares of the oil and gas company’s stock valued at $122,802,000 after purchasing an additional 1,028,001 shares during the last quarter. Finally, Cambiar Investors LLC raised its position in shares of RPC by 272.4% in the 3rd quarter. Cambiar Investors LLC now owns 720,583 shares of the oil and gas company’s stock valued at $17,863,000 after purchasing an additional 527,079 shares during the last quarter. Institutional investors and hedge funds own 38.07% of the company’s stock.

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About RPC

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.

Analyst Recommendations for RPC (NYSE:RES)

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