RPC (NYSE:RES) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of RPC (NYSE:RES) from a hold rating to a buy rating in a research note released on Saturday morning.

RES has been the topic of a number of other reports. Piper Sandler reissued an “underweight” rating on shares of RPC in a research note on Thursday, December 18th. Weiss Ratings reiterated a “hold (c-)” rating on shares of RPC in a report on Monday, December 29th. Susquehanna boosted their target price on RPC from $5.50 to $6.00 and gave the company a “neutral” rating in a research report on Wednesday, January 7th. Finally, Citigroup raised their price target on RPC from $5.75 to $6.00 and gave the stock a “neutral” rating in a research report on Thursday, December 11th. Four research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, RPC has a consensus rating of “Reduce” and an average target price of $5.25.

RPC Trading Down 0.9%

Shares of RPC stock opened at $6.14 on Friday. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of 26.67 and a beta of 0.63. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.31 and a current ratio of 2.78. RPC has a fifty-two week low of $4.10 and a fifty-two week high of $7.17. The stock has a 50 day moving average of $5.60 and a 200 day moving average of $5.05.

RPC (NYSE:RES) last issued its quarterly earnings data on Thursday, October 30th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.04. RPC had a return on equity of 5.58% and a net margin of 3.12%.The firm had revenue of $447.10 million during the quarter, compared to the consensus estimate of $402.31 million. During the same period last year, the company earned $0.09 EPS. The company’s quarterly revenue was up 32.4% on a year-over-year basis. As a group, research analysts predict that RPC will post 0.31 earnings per share for the current year.

RPC Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Monday, November 10th were paid a dividend of $0.04 per share. The ex-dividend date was Monday, November 10th. This represents a $0.16 annualized dividend and a yield of 2.6%. RPC’s payout ratio is presently 69.57%.

Institutional Investors Weigh In On RPC

Institutional investors and hedge funds have recently bought and sold shares of the stock. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of RPC during the 2nd quarter valued at about $47,000. Congress Asset Management Co. acquired a new stake in RPC in the third quarter valued at approximately $5,959,000. Arrowstreet Capital Limited Partnership raised its stake in shares of RPC by 31.5% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,800,246 shares of the oil and gas company’s stock valued at $13,245,000 after purchasing an additional 670,432 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in RPC in the 2nd quarter valued at about $259,000. Finally, Exchange Traded Concepts LLC boosted its holdings in RPC by 30.0% in the second quarter. Exchange Traded Concepts LLC now owns 256,291 shares of the oil and gas company’s stock valued at $1,212,000 after purchasing an additional 59,216 shares during the last quarter. 41.06% of the stock is owned by hedge funds and other institutional investors.

About RPC

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.