ValuEngine Lowers RPC (RES) to Sell

ValuEngine lowered shares of RPC (NYSE:RES) from a hold rating to a sell rating in a research report sent to investors on Friday morning.

RES has been the subject of several other research reports. B. Riley set a $27.00 price target on shares of RPC and gave the company a hold rating in a research report on Wednesday, January 24th. Jefferies Group reaffirmed a hold rating and set a $19.00 price target on shares of RPC in a research report on Wednesday, April 4th. TheStreet lowered shares of RPC from a b- rating to a c+ rating in a research report on Monday, April 16th. Credit Suisse Group reduced their price target on shares of RPC from $25.00 to $21.00 and set a neutral rating for the company in a research report on Thursday, January 25th. Finally, BMO Capital Markets reduced their price target on shares of RPC from $29.00 to $27.00 and set an outperform rating for the company in a research report on Thursday, January 25th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company’s stock. RPC presently has an average rating of Hold and a consensus price target of $23.03.

RPC traded down $0.89, hitting $18.67, during midday trading on Friday, according to Marketbeat.com. 1,800,206 shares of the company traded hands, compared to its average volume of 1,661,433. The stock has a market capitalization of $4.21 billion, a P/E ratio of 28.29, a P/E/G ratio of 0.84 and a beta of 0.85. RPC has a 52 week low of $16.70 and a 52 week high of $27.07.

RPC (NYSE:RES) last posted its earnings results on Wednesday, April 25th. The oil and gas company reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.04). RPC had a net margin of 12.17% and a return on equity of 22.05%. The company had revenue of $436.33 million for the quarter, compared to the consensus estimate of $461.47 million. During the same quarter in the prior year, the company posted $0.02 EPS. RPC’s revenue was up 46.4% on a year-over-year basis. research analysts forecast that RPC will post 1.29 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 11th. Investors of record on Thursday, May 10th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 2.14%. The ex-dividend date is Wednesday, May 9th. RPC’s dividend payout ratio is 60.61%.

RPC announced that its board has initiated a stock buyback program on Monday, February 12th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the oil and gas company to purchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

In related news, CFO Ben M. Palmer sold 3,500 shares of the stock in a transaction that occurred on Thursday, May 10th. The shares were sold at an average price of $19.27, for a total value of $67,445.00. Following the completion of the sale, the chief financial officer now directly owns 645,132 shares of the company’s stock, valued at approximately $12,431,693.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 73.50% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in RES. YorkBridge Wealth Partners LLC increased its holdings in RPC by 791.2% in the 4th quarter. YorkBridge Wealth Partners LLC now owns 5,855 shares of the oil and gas company’s stock worth $115,000 after acquiring an additional 5,198 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in RPC in the 4th quarter worth approximately $147,000. CENTRAL TRUST Co bought a new position in RPC in the 4th quarter worth approximately $147,000. Envestnet Asset Management Inc. boosted its stake in RPC by 73.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 9,164 shares of the oil and gas company’s stock worth $166,000 after purchasing an additional 3,885 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. boosted its stake in RPC by 71.0% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,534 shares of the oil and gas company’s stock worth $167,000 after purchasing an additional 2,714 shares during the period. 34.83% of the stock is owned by institutional investors.

RPC Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for RPC (NYSE:RES)

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