RPC (NYSE:RES) Sets New 1-Year High – Should You Buy?

RPC, Inc. (NYSE:RES)’s stock price reached a new 52-week high on Monday . The company traded as high as $7.39 and last traded at $7.3250, with a volume of 201 shares. The stock had previously closed at $7.32.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of RPC in a research report on Monday, December 29th. Piper Sandler restated an “underweight” rating on shares of RPC in a research report on Thursday, December 18th. Susquehanna lifted their price objective on RPC from $5.50 to $6.00 and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Citigroup boosted their price objective on RPC from $5.75 to $6.00 and gave the company a “neutral” rating in a report on Thursday, December 11th. Finally, Wall Street Zen lowered RPC from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Four equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, RPC has a consensus rating of “Reduce” and an average target price of $5.25.

RPC Stock Down 0.9%

The business’s fifty day moving average is $6.30 and its two-hundred day moving average is $5.61. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 47.23 and a beta of 0.69. 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 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). RPC had a return on equity of 5.24% and a net margin of 1.97%.The business had revenue of $425.78 million for the quarter, compared to analyst estimates of $423.30 million. During the same quarter last year, the company earned $0.06 earnings per share. RPC’s quarterly revenue was up 26.9% compared to the same quarter last year. Equities analysts forecast that RPC, Inc. will post 0.31 earnings per share for the current fiscal year.

RPC Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Thrivent Financial for Lutherans increased its holdings in RPC by 3.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 64,164 shares of the oil and gas company’s stock worth $305,000 after purchasing an additional 1,970 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in RPC by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,558 shares of the oil and gas company’s stock valued at $278,000 after purchasing an additional 2,190 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of RPC by 4.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 52,512 shares of the oil and gas company’s stock valued at $249,000 after buying an additional 2,228 shares during the period. Mariner LLC grew its position in shares of RPC by 3.3% during the third quarter. Mariner LLC now owns 76,699 shares of the oil and gas company’s stock worth $365,000 after buying an additional 2,446 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of RPC by 2.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 128,551 shares of the oil and gas company’s stock worth $699,000 after buying an additional 2,648 shares in the last quarter. 41.06% of the stock is owned by institutional investors and hedge funds.

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.