Bank of America Cuts RPC (RES) Price Target to $16.00

RPC (NYSE:RES) had its target price reduced by Bank of America from $17.00 to $16.00 in a research report report published on Thursday morning. They currently have a neutral rating on the oil and gas company’s stock.

Other equities research analysts also recently issued research reports about the company. Seaport Global Securities reaffirmed a neutral rating on shares of RPC in a report on Thursday, July 26th. Cowen reaffirmed a hold rating and set a $15.00 target price on shares of RPC in a report on Thursday, July 26th. Citigroup decreased their target price on RPC from $18.00 to $15.00 and set a neutral rating for the company in a report on Monday, July 9th. Wolfe Research assumed coverage on RPC in a report on Wednesday, October 10th. They set an underperform rating for the company. Finally, Zacks Investment Research raised RPC from a strong sell rating to a hold rating in a report on Friday, October 12th. Three investment analysts have rated the stock with a sell rating and seventeen have issued a hold rating to the stock. The company has an average rating of Hold and an average target price of $17.35.

RPC stock opened at $14.37 on Thursday. RPC has a 52 week low of $12.96 and a 52 week high of $27.07. The stock has a market cap of $3.09 billion, a P/E ratio of 16.15, a PEG ratio of 0.87 and a beta of 0.84.



RPC (NYSE:RES) last released its earnings results on Wednesday, October 24th. The oil and gas company reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.04). RPC had a return on equity of 20.77% and a net margin of 12.40%. The firm had revenue of $439.99 million for the quarter, compared to analyst estimates of $456.54 million. During the same period last year, the firm earned $0.26 EPS. The company’s revenue for the quarter was down 6.6% compared to the same quarter last year. Analysts expect that RPC will post 0.87 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 9th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Thursday, November 8th. RPC’s payout ratio is presently 60.61%.

Large investors have recently made changes to their positions in the business. BlackRock Inc. increased its position in shares of RPC by 3.6% in the second quarter. BlackRock Inc. now owns 3,071,238 shares of the oil and gas company’s stock valued at $44,748,000 after buying an additional 105,394 shares in the last quarter. Gabelli Funds LLC increased its position in shares of RPC by 0.8% in the second quarter. Gabelli Funds LLC now owns 2,648,105 shares of the oil and gas company’s stock valued at $38,583,000 after buying an additional 20,300 shares in the last quarter. Gamco Investors INC. ET AL increased its position in shares of RPC by 4.0% in the second quarter. Gamco Investors INC. ET AL now owns 2,446,742 shares of the oil and gas company’s stock valued at $35,649,000 after buying an additional 94,891 shares in the last quarter. Deprince Race & Zollo Inc. increased its position in shares of RPC by 17.5% in the third quarter. Deprince Race & Zollo Inc. now owns 1,938,156 shares of the oil and gas company’s stock valued at $30,003,000 after buying an additional 288,359 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of RPC by 8.8% in the second quarter. Dimensional Fund Advisors LP now owns 1,639,247 shares of the oil and gas company’s stock valued at $23,884,000 after buying an additional 133,189 shares in the last quarter. 31.71% 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.

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