RPC Inc. (RES) Earns Buy Rating from Analysts at Jefferies Group
Other research analysts have also issued research reports about the company. Zacks Investment Research raised RPC from a hold rating to a buy rating and set a $20.00 price target on the stock in a research report on Thursday, October 27th. TheStreet raised RPC from a sell rating to a hold rating in a research report on Monday, October 31st. Nomura reaffirmed a hold rating and set a $14.00 price target on shares of RPC in a research report on Thursday, September 22nd. Seaport Global Securities raised RPC from a reduce rating to a neutral rating and boosted their price target for the stock from $14.00 to $17.00 in a research report on Tuesday, October 4th. Finally, Citigroup Inc. boosted their price target on RPC from $15.00 to $16.00 and gave the stock a neutral rating in a research report on Monday, September 12th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $15.82.
RPC (NYSE:RES) opened at 20.08 on Monday. RPC has a 12 month low of $9.73 and a 12 month high of $20.46. The company has a 50-day moving average price of $17.84 and a 200 day moving average price of $15.89. The company’s market capitalization is $4.37 billion.
RPC (NYSE:RES) last posted its quarterly earnings results on Wednesday, October 26th. The company reported ($0.18) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.21) by $0.03. The firm had revenue of $175.90 million for the quarter, compared to analyst estimates of $157.53 million. RPC had a negative return on equity of 17.64% and a negative net margin of 20.36%. The business’s quarterly revenue was down 39.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.16) EPS. On average, equities research analysts forecast that RPC will post ($0.71) EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Thursday, November 10th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $0.20 annualized dividend and a yield of 1.00%. RPC’s dividend payout ratio (DPR) is presently -27.03%.
In related news, CFO Ben M. Palmer sold 35,479 shares of the business’s stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $17.90, for a total value of $635,074.10. Following the completion of the sale, the chief financial officer now directly owns 667,583 shares in the company, valued at approximately $11,949,735.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 73.40% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company purchased a new stake in RPC during the third quarter valued at about $103,000. BNP Paribas Arbitrage SA increased its stake in RPC by 27.5% in the third quarter. BNP Paribas Arbitrage SA now owns 6,118 shares of the company’s stock valued at $103,000 after buying an additional 1,319 shares during the period. Pacer Advisors Inc. purchased a new stake in RPC during the second quarter valued at about $107,000. Teacher Retirement System of Texas increased its stake in RPC by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 9,093 shares of the company’s stock valued at $141,000 after buying an additional 1,103 shares during the period. Finally, Glenmede Trust Co. NA increased its stake in RPC by 1.2% in the second quarter. Glenmede Trust Co. NA now owns 9,106 shares of the company’s stock valued at $141,000 after buying an additional 106 shares during the period. Institutional investors and hedge funds own 37.62% of the company’s stock.
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 to oil and gas companies engaged in the exploration, production and development of oil and gas properties across 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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