Several other equities analysts have also commented on the company. Morgan Stanley reduced their price target on RPC from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 21st. Jefferies Group LLC restated a “buy” rating and set a $26.00 price objective on shares of RPC in a report on Friday, June 9th. Wolfe Research downgraded RPC from an “outperform” rating to a “market perform” rating and set a $20.00 price objective on the stock. in a report on Monday, April 17th. BMO Capital Markets initiated coverage on RPC in a report on Wednesday, April 12th. They set an “outperform” rating and a $24.00 price objective on the stock. Finally, Zacks Investment Research downgraded RPC from a “buy” rating to a “hold” rating in a report on Tuesday, July 18th. Ten analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. RPC currently has an average rating of “Hold” and a consensus target price of $22.91.
RPC, Inc. (NYSE:RES) – Analysts at Seaport Global Securities raised their FY2017 earnings per share (EPS) estimates for shares of RPC in a research note issued to investors on Thursday. Seaport Global Securities analyst S. Randhawa now anticipates that the oil and gas company will post earnings of $0.79 per share for the year, up from their prior forecast of $0.62. Seaport Global Securities has a “Neutral” rating on the stock.
RPC (NYSE RES) traded up 0.63% during mid-day trading on Monday, hitting $20.85. 270,659 shares of the company were exchanged. The stock’s market cap is $4.54 billion. RPC has a 12 month low of $13.67 and a 12 month high of $23.36. The firm has a 50 day moving average price of $20.36 and a 200 day moving average price of $19.67.
Several large investors have recently modified their holdings of the stock. Flinton Capital Management LLC increased its stake in shares of RPC by 86.9% in the first quarter. Flinton Capital Management LLC now owns 7,296 shares of the oil and gas company’s stock worth $134,000 after buying an additional 3,392 shares during the period. Meadow Creek Investment Management LLC increased its stake in shares of RPC by 86.9% in the first quarter. Meadow Creek Investment Management LLC now owns 10,032 shares of the oil and gas company’s stock worth $184,000 after buying an additional 4,664 shares during the period. Pacer Advisors Inc. increased its stake in shares of RPC by 22.0% in the first quarter. Pacer Advisors Inc. now owns 10,144 shares of the oil and gas company’s stock worth $186,000 after buying an additional 1,830 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of RPC by 40.9% in the first quarter. BNP Paribas Arbitrage SA now owns 10,503 shares of the oil and gas company’s stock worth $192,000 after buying an additional 3,048 shares during the period. Finally, Advisory Services Network LLC purchased a new stake in shares of RPC during the first quarter worth $206,000. Institutional investors and hedge funds own 40.28% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Thursday, August 10th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.16%. This is an increase from RPC’s previous quarterly dividend of $0.05. The ex-dividend date is Tuesday, August 8th. RPC’s payout ratio is -83.32%.
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.