Analysts Set RPC, Inc. (NYSE:RES) Target Price at $5.63

RPC, Inc. (NYSE:RES – Get Free Report) has received a consensus rating of “Reduce” from the five ratings firms that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $5.6250.

RES has been the subject of several recent research reports. Susquehanna boosted their price target on RPC from $7.00 to $7.50 and gave the company a “neutral” rating in a research note on Friday, May 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of RPC in a research note on Tuesday, April 14th.

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Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in RPC by 7.6% during the first quarter. Dimensional Fund Advisors LP now owns 12,543,337 shares of the oil and gas company’s stock valued at $88,809,000 after purchasing an additional 883,118 shares in the last quarter. State Street Corp raised its position in RPC by 6.1% during the fourth quarter. State Street Corp now owns 4,049,407 shares of the oil and gas company’s stock valued at $22,029,000 after purchasing an additional 233,646 shares in the last quarter. American Century Companies Inc. raised its position in RPC by 8.4% during the third quarter. American Century Companies Inc. now owns 3,960,190 shares of the oil and gas company’s stock valued at $18,851,000 after purchasing an additional 308,361 shares in the last quarter. IES Holdings Inc. acquired a new position in RPC during the fourth quarter valued at approximately $14,144,000. Finally, Van ECK Associates Corp raised its position in RPC by 13.0% during the fourth quarter. Van ECK Associates Corp now owns 2,508,890 shares of the oil and gas company’s stock valued at $13,648,000 after purchasing an additional 288,917 shares in the last quarter. 41.06% of the stock is currently owned by institutional investors and hedge funds.

RPC Trading Down 1.4%

Shares of RES stock opened at $5.86 on Friday. The company has a current ratio of 3.13, a quick ratio of 2.61 and a debt-to-equity ratio of 0.03. The stock has a market cap of $1.30 billion, a P/E ratio of 65.06 and a beta of 0.62. The stock has a 50 day simple moving average of $7.02 and a 200 day simple moving average of $6.46. RPC has a 1 year low of $4.18 and a 1 year high of $8.16.

RPC (NYSE:RES – Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.02. The business had revenue of $454.76 million during the quarter, compared to analysts’ expectations of $406.68 million. RPC had a return on equity of 4.82% and a net margin of 1.20%.The firm’s revenue for the quarter was up 36.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.06 earnings per share. On average, research analysts predict that RPC will post 0.2 earnings per share for the current fiscal year.

RPC Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, May 11th were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 2.7%. The ex-dividend date was Monday, May 11th. RPC’s payout ratio is 177.78%.

About RPC

(Get Free Report)

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.

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