Shares of RPC, Inc. (NYSE:RES) have been given an average rating of “Hold” by the twenty-one ratings firms that are currently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and two have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $19.31.
A number of equities research analysts recently weighed in on RES shares. Credit Suisse Group lowered their target price on shares of RPC from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, July 26th. Zacks Investment Research lowered shares of RPC from a “hold” rating to a “sell” rating in a report on Tuesday, July 31st. ValuEngine downgraded shares of RPC from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 5th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $15.00 price objective on shares of RPC in a research report on Thursday, July 26th.
A number of hedge funds have recently modified their holdings of the business. FDx Advisors Inc. grew its position in shares of RPC by 51.4% during the 1st quarter. FDx Advisors Inc. now owns 17,946 shares of the oil and gas company’s stock valued at $324,000 after acquiring an additional 6,089 shares during the period. Wells Fargo & Company MN grew its position in shares of RPC by 12.1% during the 1st quarter. Wells Fargo & Company MN now owns 103,424 shares of the oil and gas company’s stock valued at $1,865,000 after acquiring an additional 11,141 shares during the period. Alps Advisors Inc. bought a new position in shares of RPC during the 1st quarter valued at approximately $426,000. Comerica Bank bought a new position in shares of RPC during the 1st quarter valued at approximately $2,425,000. Finally, Atria Investments LLC bought a new position in shares of RPC during the 1st quarter valued at approximately $217,000. 31.77% of the stock is owned by institutional investors and hedge funds.
Shares of RES traded down $0.98 on Friday, reaching $13.41. The company’s stock had a trading volume of 5,578,100 shares, compared to its average volume of 1,864,650. RPC has a twelve month low of $12.98 and a twelve month high of $27.07. The firm has a market capitalization of $3.14 billion, a PE ratio of 20.26, a P/E/G ratio of 0.81 and a beta of 0.90.
RPC (NYSE:RES) last posted its earnings results on Wednesday, July 25th. The oil and gas company reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.01). RPC had a return on equity of 23.23% and a net margin of 12.60%. The business had revenue of $467.93 million during the quarter, compared to analyst estimates of $488.40 million. During the same quarter in the prior year, the company earned $0.20 EPS. The company’s revenue was up 17.3% on a year-over-year basis. sell-side analysts predict that RPC will post 1 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Friday, August 10th will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date of this dividend is Thursday, August 9th. RPC’s payout ratio is 60.61%.
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.
Featured Story: Short Selling Stocks, A Beginner’s Guide
Receive News & Ratings for RPC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RPC and related companies with MarketBeat.com's FREE daily email newsletter.