RES has been the subject of a number of other research reports. Zacks Investment Research upgraded RPC from a hold rating to a buy rating and set a $26.00 price objective for the company in a research report on Tuesday, October 17th. Cowen set a $24.00 price objective on RPC and gave the company a hold rating in a research report on Friday, October 6th. B. Riley lowered RPC from a buy rating to a neutral rating and set a $27.00 price objective for the company. in a research report on Friday, December 22nd. Raymond James Financial lowered RPC from a strong-buy rating to an outperform rating in a research report on Thursday, October 26th. Finally, BMO Capital Markets raised their price objective on RPC from $26.00 to $29.00 and gave the company an outperform rating in a research report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Hold and an average target price of $25.03.
Shares of RPC (NYSE RES) traded up $0.48 during trading on Thursday, hitting $26.17. The stock had a trading volume of 1,636,900 shares, compared to its average volume of 1,528,533. The stock has a market capitalization of $5,670.00, a price-to-earnings ratio of 68.87, a price-to-earnings-growth ratio of 0.91 and a beta of 1.14. RPC has a 52-week low of $16.63 and a 52-week high of $27.07.
The business also recently declared a quarterly dividend, which was paid on Monday, December 11th. Investors of record on Friday, November 10th were given a $0.07 dividend. The ex-dividend date of this dividend was Thursday, November 9th. This represents a $0.28 annualized dividend and a yield of 1.07%. This is a positive change from RPC’s previous quarterly dividend of $0.06. RPC’s dividend payout ratio (DPR) is currently 73.68%.
In related news, Director Amy Rollins Kreisler purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The stock was bought at an average price of $23.21 per share, for a total transaction of $116,050.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at approximately $116,050. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 73.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Alliancebernstein L.P. lifted its stake in RPC by 58.4% in the second quarter. Alliancebernstein L.P. now owns 9,040,717 shares of the oil and gas company’s stock worth $182,713,000 after purchasing an additional 3,333,619 shares during the last quarter. Vanguard Group Inc. lifted its stake in RPC by 20.4% in the second quarter. Vanguard Group Inc. now owns 6,076,306 shares of the oil and gas company’s stock worth $122,802,000 after purchasing an additional 1,028,001 shares during the last quarter. Victory Capital Management Inc. lifted its stake in RPC by 244.9% in the third quarter. Victory Capital Management Inc. now owns 2,066,941 shares of the oil and gas company’s stock worth $51,239,000 after purchasing an additional 1,467,661 shares during the last quarter. Alyeska Investment Group L.P. bought a new stake in RPC in the third quarter worth about $47,921,000. Finally, Van ECK Associates Corp bought a new stake in RPC in the third quarter worth about $36,128,000. 38.07% of the stock is owned by institutional investors and hedge funds.
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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 primarily to independent oil and gas companies engaged in the exploration, production and development of oil and gas properties throughout 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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