RPC (NYSE:RES) Sets New 12-Month High – What’s Next?

RPC, Inc. (NYSE:RES) hit a new 52-week high during trading on Tuesday . The stock traded as high as $7.19 and last traded at $7.1550, with a volume of 1110630 shares traded. The stock had previously closed at $6.89.

Wall Street Analyst Weigh In

RES has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of RPC in a report on Monday, December 29th. Wall Street Zen downgraded RPC from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Citigroup boosted their target price on RPC from $5.75 to $6.00 and gave the stock a “neutral” rating in a research report on Thursday, December 11th. Piper Sandler restated an “underweight” rating on shares of RPC in a research report on Thursday, December 18th. Finally, Susquehanna lifted 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. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $5.25.

RPC Trading Up 0.4%

The firm has a market cap of $1.57 billion, a price-to-earnings ratio of 47.32 and a beta of 0.69. The business has a 50 day moving average of $6.21 and a 200 day moving average of $5.53. The company has a quick ratio of 2.70, a current ratio of 3.24 and a debt-to-equity ratio of 0.03.

RPC (NYSE:RES) last released its earnings results on Tuesday, February 3rd. The oil and gas company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.03). RPC had a net margin of 1.97% and a return on equity of 5.24%. The business had revenue of $425.78 million during the quarter, compared to analyst estimates of $423.30 million. During the same quarter in the previous year, the company posted $0.06 earnings per share. The business’s revenue for the quarter was up 26.9% compared to the same quarter last year. On average, research analysts forecast that RPC, Inc. will post 0.31 earnings per share for the current fiscal year.

RPC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 10th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date was Tuesday, February 10th. RPC’s payout ratio is presently 106.67%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in RES. AQR Capital Management LLC boosted its holdings in RPC by 1.1% in the first quarter. AQR Capital Management LLC now owns 544,365 shares of the oil and gas company’s stock valued at $2,994,000 after purchasing an additional 5,914 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of RPC by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,558 shares of the oil and gas company’s stock worth $278,000 after buying an additional 2,190 shares in the last quarter. Strs Ohio bought a new stake in shares of RPC in the first quarter worth $92,000. Geode Capital Management LLC boosted its stake in RPC by 4.1% during the 2nd quarter. Geode Capital Management LLC now owns 2,078,778 shares of the oil and gas company’s stock valued at $9,834,000 after acquiring an additional 82,457 shares during the last quarter. Finally, Creative Planning boosted its stake in RPC by 5.0% during the 2nd quarter. Creative Planning now owns 256,621 shares of the oil and gas company’s stock valued at $1,214,000 after acquiring an additional 12,152 shares during the last quarter. 41.06% of the stock is owned by hedge funds and other institutional investors.

About RPC

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.