RPC, Inc. (NYSE:RES) Given Consensus Rating of “Reduce” by Analysts

Shares of RPC, Inc. (NYSE:RES) have earned an average recommendation of “Reduce” from the five brokerages that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $4.6875.

Several research firms have recently issued reports on RES. Susquehanna lowered their price objective on RPC from $5.50 to $5.00 and set a “neutral” rating for the company in a research note on Friday, July 25th. Wall Street Zen upgraded RPC from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of RPC in a research note on Wednesday, October 8th. Finally, Piper Sandler cut their price objective on shares of RPC from $5.00 to $4.00 and set an “underweight” rating on the stock in a research report on Thursday, August 14th.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of RES. Creative Planning raised its holdings in shares of RPC by 60.3% in the third quarter. Creative Planning now owns 411,255 shares of the oil and gas company’s stock worth $1,958,000 after buying an additional 154,634 shares during the period. Man Group plc grew its position in RPC by 288.2% in the 3rd quarter. Man Group plc now owns 64,701 shares of the oil and gas company’s stock valued at $308,000 after acquiring an additional 48,033 shares during the last quarter. Brooklyn Investment Group increased its stake in RPC by 1,671.7% in the third quarter. Brooklyn Investment Group now owns 51,487 shares of the oil and gas company’s stock worth $245,000 after purchasing an additional 48,581 shares during the period. Bridgeway Capital Management LLC increased its stake in RPC by 0.7% in the third quarter. Bridgeway Capital Management LLC now owns 1,539,049 shares of the oil and gas company’s stock worth $7,326,000 after purchasing an additional 9,991 shares during the period. Finally, Squarepoint Ops LLC lifted its position in shares of RPC by 307.0% during the third quarter. Squarepoint Ops LLC now owns 129,394 shares of the oil and gas company’s stock worth $616,000 after purchasing an additional 97,599 shares during the last quarter. Hedge funds and other institutional investors own 41.06% of the company’s stock.

RPC Price Performance

RES stock opened at $5.40 on Friday. RPC has a 52 week low of $4.10 and a 52 week high of $7.17. The firm has a market capitalization of $1.19 billion, a P/E ratio of 20.76 and a beta of 0.80. The company has a fifty day simple moving average of $4.82 and a two-hundred day simple moving average of $4.79. The company has a quick ratio of 2.16, a current ratio of 2.64 and a debt-to-equity ratio of 0.03.

RPC (NYSE:RES) last announced its earnings results on Wednesday, November 16th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter. The firm had revenue of $225.31 million for the quarter. RPC had a net margin of 3.77% and a return on equity of 5.65%. Analysts anticipate that RPC will post 0.31 earnings per share for the current fiscal year.

RPC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Monday, November 10th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 3.0%. The ex-dividend date is Monday, November 10th. RPC’s dividend payout ratio is presently 69.57%.

About RPC

RPC, Inc, through its subsidiaries, engages provision of 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 segment offers pressure pumping, fracturing, acidizing, cementing, 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.