RPC (NYSE:RES) Price Target Raised to $7.00

RPC (NYSE:RES) had its price objective increased by Susquehanna from $6.00 to $7.00 in a research note published on Tuesday morning,Benzinga reports. Susquehanna currently has a neutral rating on the oil and gas company’s stock.

Other equities analysts have also issued research reports about the company. Piper Sandler reissued an “underweight” rating on shares of RPC in a report on Thursday, December 18th. Wall Street Zen lowered RPC from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of RPC in a report on Monday, December 29th. Finally, Citigroup lifted their price objective on RPC from $5.75 to $6.00 and gave the company a “neutral” rating in a report on Thursday, December 11th. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, RPC has a consensus rating of “Reduce” and a consensus price target of $5.50.

RPC Stock Down 0.4%

Shares of NYSE RES opened at $6.66 on Tuesday. The stock has a market cap of $1.48 billion, a P/E ratio of 44.37 and a beta of 0.61. The company has a current ratio of 3.24, a quick ratio of 2.70 and a debt-to-equity ratio of 0.03. RPC has a 12-month low of $4.18 and a 12-month high of $7.41. The business’s fifty day simple moving average is $6.34 and its 200-day simple moving average is $5.71.

RPC (NYSE:RES) last posted its quarterly earnings results on Tuesday, February 3rd. The oil and gas company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). RPC had a net margin of 1.97% and a return on equity of 5.24%. The business had revenue of $425.78 million during the quarter, compared to analyst estimates of $423.30 million. During the same quarter in the prior year, the business earned $0.06 earnings per share. The firm’s quarterly revenue was up 26.9% on a year-over-year basis. As a group, equities analysts predict that RPC will post 0.31 EPS for the current fiscal year.

RPC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 10th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Tuesday, February 10th. RPC’s payout ratio is currently 106.67%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RES. EverSource Wealth Advisors LLC raised its position in shares of RPC by 220.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,533 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 4,495 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of RPC by 243.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,681 shares of the oil and gas company’s stock worth $41,000 after purchasing an additional 6,153 shares during the last quarter. Hantz Financial Services Inc. raised its position in shares of RPC by 940.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 9,113 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 8,237 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of RPC during the 4th quarter worth approximately $48,000. Finally, CWM LLC raised its position in shares of RPC by 88.2% during the 4th quarter. CWM LLC now owns 9,316 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 4,365 shares during the last quarter. 41.06% of the stock is currently owned by institutional investors and hedge funds.

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.