RPC (RES) Shares Up 5.1%

RPC, Inc. (NYSE:RES) shares shot up 5.1% during trading on Friday . The stock traded as high as $14.62 and last traded at $14.37. 2,155,704 shares were traded during mid-day trading, an increase of 18% from the average session volume of 1,832,728 shares. The stock had previously closed at $13.67.

Several research firms recently commented on RES. Seaport Global Securities reiterated a “neutral” rating on shares of RPC in a research note on Thursday, July 26th. Cowen reiterated a “hold” rating and issued a $15.00 price target on shares of RPC in a research note on Thursday, July 26th. Citigroup cut their price target on RPC from $18.00 to $15.00 and set a “neutral” rating on the stock in a research note on Monday, July 9th. Wolfe Research initiated coverage on RPC in a research note on Wednesday, October 10th. They issued an “underperform” rating on the stock. Finally, Zacks Investment Research upgraded RPC from a “strong sell” rating to a “hold” rating in a research note on Friday, October 12th. Three equities research analysts have rated the stock with a sell rating and seventeen have assigned a hold rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $17.35.

The company has a market cap of $3.09 billion, a PE ratio of 16.15, a P/E/G ratio of 0.87 and a beta of 0.84.



RPC (NYSE:RES) last announced its quarterly earnings data on Wednesday, October 24th. The oil and gas company reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.04). RPC had a net margin of 12.40% and a return on equity of 20.77%. The firm had revenue of $439.99 million for the quarter, compared to analyst estimates of $456.54 million. During the same quarter in the previous year, the company earned $0.26 EPS. The company’s quarterly revenue was down 6.6% compared to the same quarter last year. As a group, analysts forecast that RPC, Inc. will post 0.87 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 9th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.78%. The ex-dividend date is Thursday, November 8th. RPC’s payout ratio is currently 60.61%.

Several large investors have recently bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of RPC by 3.6% during 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 purchasing an additional 105,394 shares during the last quarter. Gabelli Funds LLC grew its holdings in shares of RPC by 0.8% during 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 purchasing an additional 20,300 shares during the last quarter. Gamco Investors INC. ET AL grew its holdings in shares of RPC by 4.0% during 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 purchasing an additional 94,891 shares during the last quarter. Deprince Race & Zollo Inc. grew its holdings in shares of RPC by 17.5% during 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 purchasing an additional 288,359 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of RPC by 8.8% during 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 purchasing an additional 133,189 shares during the last quarter. 31.71% of the stock is owned by institutional investors.

About RPC (NYSE:RES)

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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