RPC (NYSE:RES) had its price target decreased by Credit Suisse Group from $25.00 to $21.00 in a research note published on Thursday, January 25th. Credit Suisse Group currently has a neutral rating on the oil and gas company’s stock.
Several other research analysts have also commented on the company. Jefferies Group set a $25.00 price target on RPC and gave the stock a hold rating in a report on Thursday, October 26th. Morgan Stanley lowered shares of RPC from an equal weight rating to an underweight rating and set a $25.00 price objective on the stock. in a report on Tuesday, November 14th. They noted that the move was a valuation call. B. Riley lowered shares of RPC from a buy rating to a hold rating and set a $27.00 price objective on the stock. in a report on Thursday, December 28th. Stephens began coverage on shares of RPC in a report on Tuesday, January 9th. They issued an equal weight rating and a $28.00 price objective on the stock. Finally, Raymond James Financial lowered shares of RPC from a strong-buy rating to an outperform rating in a report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $24.75.
RPC (NYSE RES) opened at $18.54 on Thursday. RPC has a fifty-two week low of $16.63 and a fifty-two week high of $27.07. The company has a market capitalization of $4,020.00, a price-to-earnings ratio of 28.09, a PEG ratio of 0.60 and a beta of 0.73.
RPC (NYSE:RES) last posted its quarterly earnings results on Wednesday, January 24th. The oil and gas company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.16). RPC had a return on equity of 17.23% and a net margin of 10.19%. The company had revenue of $427.30 million for the quarter, compared to analysts’ expectations of $515.04 million. During the same quarter in the prior year, the firm earned ($0.10) EPS. The firm’s revenue was up 93.3% on a year-over-year basis. analysts expect that RPC will post 1.64 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 9th will be given a $0.10 dividend. This is an increase from RPC’s previous quarterly dividend of $0.07. This represents a $0.40 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Thursday, February 8th. RPC’s payout ratio is currently 60.61%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RES. Commerce Bank grew its position in shares of RPC by 1.8% during the fourth quarter. Commerce Bank now owns 653,981 shares of the oil and gas company’s stock worth $16,697,000 after buying an additional 11,633 shares in the last quarter. Bank of Hawaii acquired a new position in shares of RPC during the fourth quarter worth about $231,000. Quadrature Capital Ltd acquired a new position in shares of RPC during the fourth quarter worth about $387,000. YorkBridge Wealth Partners LLC grew its position in shares of RPC by 791.2% during the fourth quarter. YorkBridge Wealth Partners LLC now owns 5,855 shares of the oil and gas company’s stock worth $115,000 after buying an additional 5,198 shares in the last quarter. Finally, OppenheimerFunds Inc. grew its position in shares of RPC by 3.2% during the fourth quarter. OppenheimerFunds Inc. now owns 1,084,270 shares of the oil and gas company’s stock worth $27,681,000 after buying an additional 33,150 shares in the last quarter. 37.43% of the stock is owned by institutional investors.
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RPC Company Profile
RPC, Inc (RPC) is a holding company for several oilfield services companies. The Company provides a range of specialized oilfield services and equipment primarily to independent oil and gas companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the southwest, mid-continent, Gulf of Mexico, Rocky Mountain and Appalachian regions, and in selected international markets.
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