RPC, Inc. (NYSE:RES) has received an average rating of “Hold” from the twenty-two ratings firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, fifteen have issued a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $21.96.
A number of analysts recently commented on the stock. Jefferies Financial Group restated a “hold” rating and set a $19.00 price target on shares of RPC in a research note on Wednesday, April 4th. TheStreet cut shares of RPC from a “b-” rating to a “c+” rating in a research note on Monday, April 16th. ValuEngine cut shares of RPC from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Zacks Investment Research upgraded shares of RPC from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 20th. Finally, Citigroup dropped their price target on shares of RPC from $18.00 to $15.00 and set a “neutral” rating on the stock in a research note on Monday.
RPC traded down $0.12, reaching $14.96, during midday trading on Friday, according to Marketbeat Ratings. The company had a trading volume of 1,771,100 shares, compared to its average volume of 1,875,646. The stock has a market cap of $3.37 billion, a price-to-earnings ratio of 22.70, a PEG ratio of 0.70 and a beta of 0.91. RPC has a 12-month low of $13.55 and a 12-month high of $27.07.
RPC (NYSE:RES) last announced its quarterly earnings results on Wednesday, April 25th. The oil and gas company reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.04). The business had revenue of $436.33 million for the quarter, compared to analysts’ expectations of $461.47 million. RPC had a net margin of 12.17% and a return on equity of 22.05%. The business’s quarterly revenue was up 46.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 earnings per share. sell-side analysts expect that RPC will post 1.24 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, June 11th. Shareholders of record on Thursday, May 10th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.67%. The ex-dividend date was Wednesday, May 9th. RPC’s dividend payout ratio is presently 60.61%.
In other RPC news, CFO Ben M. Palmer sold 13,500 shares of the stock in a transaction that occurred on Thursday, May 17th. The shares were sold at an average price of $20.03, for a total value of $270,405.00. Following the sale, the chief financial officer now directly owns 631,632 shares in the company, valued at approximately $12,651,588.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ben M. Palmer sold 3,500 shares of the stock in a transaction that occurred on Thursday, May 10th. The stock was sold at an average price of $19.27, for a total transaction of $67,445.00. Following the completion of the sale, the chief financial officer now owns 645,132 shares in the company, valued at $12,431,693.64. The disclosure for this sale can be found here. Corporate insiders own 73.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Carillon Tower Advisers Inc. bought a new position in shares of RPC in the 1st quarter worth $12,191,000. Russell Investments Group Ltd. increased its holdings in shares of RPC by 3,444.3% in the 1st quarter. Russell Investments Group Ltd. now owns 571,513 shares of the oil and gas company’s stock worth $10,228,000 after buying an additional 555,388 shares during the last quarter. Scout Investments Inc. increased its holdings in shares of RPC by 83.5% in the 1st quarter. Scout Investments Inc. now owns 1,107,611 shares of the oil and gas company’s stock worth $19,970,000 after buying an additional 504,118 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of RPC by 29.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,506,058 shares of the oil and gas company’s stock worth $27,154,000 after buying an additional 344,919 shares during the last quarter. Finally, South Street Advisors LLC bought a new position in shares of RPC in the 1st quarter worth $6,144,000. Institutional investors and hedge funds own 36.45% of the company’s stock.
RPC Company Profile
RPC, Inc provides 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 offers pressure pumping, fracturing, acidizing, 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.
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