RPC, Inc. (NYSE:RES) Stock Has Average Price Target of $6.00

Shares of RPC, Inc. (NYSE:RES) have received a consensus rating of “Hold” from the five analysts that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $6.00.

Several equities analysts recently weighed in on RES shares. Susquehanna cut their price objective on shares of RPC from $7.50 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, July 8th. Weiss Ratings lowered shares of RPC from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, September 16th. Finally, Evercore cut shares of RPC to an “outperform” rating in a research report on Friday.

Key RPC News

Here are the key news stories impacting RPC this week:

• Positive Sentiment: RPC reported third-quarter revenue of $467.7 million, up approximately 1% sequentially and 4.6% year over year. Adjusted EBITDA was $71.5 million, with a 15.3% margin, while Technical Services and Support Services revenue both increased. RPC Third-Quarter Financial Results
• Positive Sentiment: The company declared a regular quarterly dividend of $0.04 per share, payable December 10 to shareholders of record on November 10. The annualized payout is $0.16 per share, representing a yield of roughly 2.5% based on the reported share price. RPC Dividend Announcement
• Neutral Sentiment: Adjusted earnings were reported at $0.10 per share, broadly in line with analyst expectations, although revenue of $467.7 million was slightly below the $469.1 million consensus estimate. The results showed modest growth but did not provide a major upside surprise. RPC Q3 Earnings Report
• Negative Sentiment: RPC recorded a $41.9 million net loss, or $0.20 per diluted share, after taking a $74.5 million non-cash impairment charge tied to its Pintail wireline business. Although the charge does not directly reduce cash, it signals weaker asset values and is the primary reason for the negative market reaction. RPC Pintail Impairment Report

RPC Price Performance

Shares of RES traded down $0.21 during mid-day trading on Friday, hitting $6.17. 2,904,324 shares of the company traded hands, compared to its average volume of 2,079,059. RPC has a one year low of $4.99 and a one year high of $8.16. The company has a current ratio of 3.34, a quick ratio of 2.76 and a debt-to-equity ratio of 0.02. The business has a 50-day moving average of $6.15 and a 200 day moving average of $6.37. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 68.56 and a beta of 0.86.

RPC (NYSE:RES) last posted its quarterly earnings data on Thursday, October 29th. The oil and gas company reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. The firm had revenue of $467.74 million during the quarter, compared to analysts’ expectations of $469.12 million. RPC had a net margin of 1.28% and a return on equity of 4.82%. RPC’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.09 EPS. As a group, equities analysts expect that RPC will post 0.26 earnings per share for the current fiscal year.

RPC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Tuesday, November 10th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.6%. RPC’s payout ratio is 177.78%.

Hedge Funds Weigh In On RPC

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RES. USA Financial Formulas bought a new stake in shares of RPC in the 3rd quarter valued at about $40,000. GAMMA Investing LLC boosted its stake in RPC by 28.7% during the 3rd quarter. GAMMA Investing LLC now owns 7,892 shares of the oil and gas company’s stock worth $44,000 after acquiring an additional 1,761 shares during the last quarter. State of Wyoming acquired a new position in RPC during the second quarter valued at approximately $54,000. Commerce Bank acquired a new position in RPC during the second quarter valued at approximately $62,000. Finally, IMC Chicago LLC bought a new stake in RPC in the first quarter valued at approximately $80,000. Institutional investors own 41.06% of the company’s stock.

RPC Company Profile

RPC, Inc (NYSE: RES) is an oilfield services company that provides specialized equipment and services to energy producers and exploration and production companies. Its offerings support the drilling, completion, production and maintenance of oil and natural gas wells.

The company’s services include pressure pumping, coiled tubing, well control, nitrogen services, downhole tools, well testing, fishing and rental equipment. These services are used in activities such as hydraulic fracturing, well intervention, workover operations and production enhancement.

RPC was founded in 1984 and is headquartered in Atlanta, Georgia.