RPC (RES) Trading Down 5.8%

RPC, Inc. (NYSE:RES) traded down 5.8% during trading on Friday . The stock traded as low as $17.21 and last traded at $17.21. 1,189,839 shares were traded during trading, a decline of 38% from the average session volume of 1,906,387 shares. The stock had previously closed at $18.26.

Several equities research analysts recently commented on the company. Jefferies Group reissued a “hold” rating and set a $19.00 target price on shares of RPC in a report on Wednesday. Guggenheim set a $25.00 target price on RPC and gave the stock a “buy” rating in a report on Monday, January 29th. Credit Suisse Group dropped their target price on RPC from $25.00 to $21.00 and set a “neutral” rating on the stock in a report on Thursday, January 25th. Wells Fargo decreased their price target on shares of RPC from $27.00 to $25.00 and set a “market perform” rating on the stock in a research report on Thursday, January 25th. Finally, BMO Capital Markets decreased their price target on shares of RPC from $29.00 to $27.00 and set an “outperform” rating on the stock in a research report on Thursday, January 25th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $24.26.

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The stock has a market capitalization of $3,959.46, a PE ratio of 26.08, a P/E/G ratio of 0.62 and a beta of 0.83.

RPC (NYSE:RES) last posted its quarterly earnings data on Wednesday, January 24th. The oil and gas company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.16). RPC had a return on equity of 16.90% and a net margin of 10.19%. The firm had revenue of $427.30 million for the quarter, compared to analysts’ expectations of $515.04 million. During the same quarter in the previous year, the firm posted ($0.10) earnings per share. The company’s revenue for the quarter was up 93.3% on a year-over-year basis. equities analysts expect that RPC, Inc. will post 1.64 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 9th. Shareholders of record on Friday, February 9th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.32%. This is a boost from RPC’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Thursday, February 8th. RPC’s payout ratio is presently 60.61%.

RPC declared that its board has authorized a stock repurchase program on Monday, February 12th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the oil and gas company to repurchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

A number of hedge funds and other institutional investors have recently bought and sold shares of RES. YorkBridge Wealth Partners LLC grew its position in RPC by 791.2% during the 4th quarter. YorkBridge Wealth Partners LLC now owns 5,855 shares of the oil and gas company’s stock worth $115,000 after purchasing an additional 5,198 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in RPC by 7.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,514 shares of the oil and gas company’s stock worth $132,000 after purchasing an additional 459 shares in the last quarter. Zions Bancorporation purchased a new position in RPC during the 3rd quarter worth approximately $137,000. CENTRAL TRUST Co purchased a new position in RPC during the 4th quarter worth approximately $147,000. Finally, State of Alaska Department of Revenue purchased a new position in RPC during the 4th quarter worth approximately $147,000. Hedge funds and other institutional investors own 35.32% of the company’s stock.

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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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