RPC (NYSE:RES) Lowered to Strong Sell at ValuEngine

ValuEngine lowered shares of RPC (NYSE:RES) from a sell rating to a strong sell rating in a report published on Monday, February 4th.

A number of other analysts also recently weighed in on RES. Wolfe Research started coverage on shares of RPC in a report on Wednesday, October 10th. They set an underperform rating for the company. Morgan Stanley set a $14.00 price objective on shares of RPC and gave the company a sell rating in a research note on Thursday, October 11th. Zacks Investment Research raised shares of RPC from a strong sell rating to a hold rating in a research note on Friday, October 12th. Bank of America initiated coverage on shares of RPC in a research report on Wednesday, October 17th. They issued a neutral rating for the company. Finally, Barclays set a $13.00 price target on shares of RPC and gave the company a hold rating in a research report on Thursday, October 25th. Eight investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the stock. RPC presently has a consensus rating of Hold and a consensus price target of $12.79.

RES traded down $0.02 during trading on Monday, hitting $10.73. The company had a trading volume of 1,367,645 shares, compared to its average volume of 1,530,257. The company has a current ratio of 3.74, a quick ratio of 3.01 and a debt-to-equity ratio of 0.01. RPC has a one year low of $9.35 and a one year high of $20.79. The stock has a market capitalization of $2.32 billion, a P/E ratio of 13.09, a P/E/G ratio of 3.07 and a beta of 1.02.

RPC (NYSE:RES) last released its quarterly earnings data on Wednesday, January 23rd. The oil and gas company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.04). RPC had a return on equity of 17.65% and a net margin of 10.19%. The firm had revenue of $376.80 million for the quarter, compared to analyst estimates of $385.48 million. During the same quarter in the prior year, the firm earned $0.18 earnings per share. The firm’s revenue for the quarter was down 11.8% on a year-over-year basis. On average, equities research analysts predict that RPC will post 0.29 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 11th. Shareholders of record on Monday, February 11th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date of this dividend is Friday, February 8th. RPC’s payout ratio is currently 48.78%.

In other RPC news, Director Pam R. Rollins bought 10,000 shares of RPC stock in a transaction dated Thursday, January 31st. The shares were purchased at an average cost of $10.85 per share, with a total value of $108,500.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 73.70% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC lifted its stake in RPC by 8.0% during the 3rd quarter. AQR Capital Management LLC now owns 3,466,461 shares of the oil and gas company’s stock valued at $53,661,000 after acquiring an additional 257,686 shares during the period. BlackRock Inc. lifted its stake in shares of RPC by 3.6% in the 2nd quarter. BlackRock Inc. now owns 3,071,238 shares of the oil and gas company’s stock worth $44,748,000 after purchasing an additional 105,394 shares during the period. Gabelli Funds LLC lifted its stake in shares of RPC by 1.6% in the 3rd quarter. Gabelli Funds LLC now owns 2,691,185 shares of the oil and gas company’s stock worth $41,660,000 after purchasing an additional 43,080 shares during the period. FMR LLC lifted its stake in shares of RPC by 125.2% in the 3rd quarter. FMR LLC now owns 2,540,280 shares of the oil and gas company’s stock worth $39,324,000 after purchasing an additional 1,412,519 shares during the period. Finally, Gamco Investors INC. ET AL lifted its stake in shares of RPC by 3.0% in the 3rd quarter. Gamco Investors INC. ET AL now owns 2,518,979 shares of the oil and gas company’s stock worth $38,994,000 after purchasing an additional 72,237 shares during the period. Institutional investors own 31.62% of the company’s stock.

About RPC

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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Analyst Recommendations for RPC (NYSE:RES)

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