RPC (NYSE:RES) Cut to Hold at Wall Street Zen

Wall Street Zen cut shares of RPC (NYSE:RES) from a buy rating to a hold rating in a research report report published on Saturday morning.

A number of other equities research analysts have also weighed in on RES. Piper Sandler reaffirmed an “underweight” rating on shares of RPC in a report on Thursday, December 18th. Citigroup raised their target price on RPC from $5.75 to $6.00 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Susquehanna boosted their price target on RPC from $5.50 to $6.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 7th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of RPC in a report on Monday, December 29th. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $5.25.

RPC Trading Down 1.4%

Shares of RES opened at $5.69 on Friday. RPC has a 12 month low of $4.10 and a 12 month high of $6.85. The stock’s 50-day moving average is $5.86 and its two-hundred day moving average is $5.18. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.24 and a quick ratio of 2.70. The stock has a market cap of $1.26 billion, a PE ratio of 37.93 and a beta of 0.72.

RPC (NYSE:RES) last released 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). The company had revenue of $425.78 million during the quarter, compared to analysts’ expectations of $423.30 million. RPC had a return on equity of 5.24% and a net margin of 1.97%.The firm’s revenue was up 26.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.06 EPS. Equities analysts forecast that RPC will post 0.31 earnings per share for the current fiscal year.

RPC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 10th will be given a $0.04 dividend. The ex-dividend date is Tuesday, February 10th. This represents a $0.16 annualized dividend and a dividend yield of 2.8%. RPC’s dividend payout ratio (DPR) is presently 106.67%.

Hedge Funds Weigh In On RPC

Several large investors have recently added to or reduced their stakes in RES. EverSource Wealth Advisors LLC increased its stake in RPC by 220.6% during the second quarter. EverSource Wealth Advisors LLC now owns 6,533 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 4,495 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of RPC by 243.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,681 shares of the oil and gas company’s stock valued at $41,000 after buying an additional 6,153 shares during the period. Hantz Financial Services Inc. grew 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 valued at $43,000 after buying an additional 8,237 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in RPC during the second quarter worth about $47,000. Finally, CWM LLC lifted its holdings in RPC by 88.2% in the fourth quarter. CWM LLC now owns 9,316 shares of the oil and gas company’s stock worth $51,000 after acquiring an additional 4,365 shares during the last quarter. 41.06% of the stock is currently owned by institutional investors.

RPC Company Profile

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.