Recent Investment Analysts’ Ratings Changes for RPC (RES)

A number of research firms have changed their ratings and price targets for RPC (NYSE: RES):

  • 10/26/2018 – RPC had its price target lowered by analysts at Cowen Inc from $15.00 to $12.00. They now have a “market perform” rating on the stock.
  • 10/25/2018 – RPC was given a new $14.00 price target on by analysts at Wolfe Research. They now have a “sell” rating on the stock.
  • 10/25/2018 – RPC had its price target lowered by analysts at Bank of America Corp from $17.00 to $16.00. They now have a “neutral” rating on the stock.
  • 10/25/2018 – RPC was given a new $14.00 price target on by analysts at Credit Suisse Group AG. They now have a “hold” rating on the stock.
  • 10/25/2018 – RPC was given a new $13.00 price target on by analysts at Macquarie. They now have a “hold” rating on the stock.
  • 10/25/2018 – RPC was given a new $13.00 price target on by analysts at Barclays PLC. They now have a “hold” rating on the stock.
  • 10/17/2018 – RPC is now covered by analysts at Bank of America Corp. They set a “neutral” rating on the stock.
  • 10/12/2018 – RPC was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “hold” rating. According to Zacks, “RPC is among the leading providers of advanced oilfield services and equipment to almost all the prospective oil and gas plays in the United States. The company is strongly committed in returning cash back to the stockholders through dividend payments and share buybacks. Also, over the past 16 years, RPC has been reporting positive operating cash flows, reflecting the company’s stable operations despite volatile commodity prices. However, the intensified competition in the domestic market has left limited rooms for the oilfield services companies like RPC to charge premium prices for their services. Also, as RPC gets the largest oilfield services contracts from the Permian Basin, constrained drilling activities in that region has made the company’s future prospects gloomy. Moreover, rising costs and expenses are a concern for the company. Therefore, a cautious stance should be taken on the stock.”
  • 10/11/2018 – RPC was given a new $14.00 price target on by analysts at Morgan Stanley. They now have a “sell” rating on the stock.
  • 10/10/2018 – RPC is now covered by analysts at Wolfe Research. They set an “underperform” rating on the stock.
  • 10/2/2018 – RPC was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating.
  • 9/14/2018 – RPC had its price target lowered by analysts at Citigroup Inc from $15.00 to $14.00. They now have a “neutral” rating on the stock.
  • 9/10/2018 – RPC is now covered by analysts at Stifel Nicolaus. They set a “hold” rating and a $15.00 price target on the stock.

NYSE:RES opened at $14.99 on Wednesday. RPC, Inc. has a twelve month low of $12.96 and a twelve month high of $27.07. The company has a market cap of $3.09 billion, a price-to-earnings ratio of 22.71, a PEG ratio of 0.89 and a beta of 0.84.

RPC (NYSE:RES) last released its quarterly earnings results on Wednesday, October 24th. The oil and gas company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.04). RPC had a return on equity of 20.77% and a net margin of 12.40%. The firm had revenue of $439.99 million for the quarter, compared to analyst estimates of $456.54 million. During the same period last year, the company earned $0.26 EPS. The company’s revenue was down 6.6% compared to the same quarter last year. Sell-side analysts expect that RPC, Inc. will post 0.85 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 9th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Thursday, November 8th. RPC’s dividend payout ratio (DPR) is currently 60.61%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RES. Russell Investments Group Ltd. raised its stake in RPC by 5.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 882,202 shares of the oil and gas company’s stock valued at $13,667,000 after acquiring an additional 42,136 shares during the period. Alps Advisors Inc. raised its stake in RPC by 38.9% in the 3rd quarter. Alps Advisors Inc. now owns 31,332 shares of the oil and gas company’s stock valued at $485,000 after acquiring an additional 8,777 shares during the period. Cambiar Investors LLC raised its stake in RPC by 1.9% in the 3rd quarter. Cambiar Investors LLC now owns 499,200 shares of the oil and gas company’s stock valued at $7,728,000 after acquiring an additional 9,526 shares during the period. First Trust Advisors LP raised its stake in RPC by 539.1% in the 3rd quarter. First Trust Advisors LP now owns 938,087 shares of the oil and gas company’s stock valued at $14,522,000 after acquiring an additional 791,299 shares during the period. Finally, Fisher Asset Management LLC raised its stake in RPC by 44.0% in the 3rd quarter. Fisher Asset Management LLC now owns 652,137 shares of the oil and gas company’s stock valued at $10,095,000 after acquiring an additional 199,120 shares during the period. 31.83% of the stock is owned by institutional investors.

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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