RPC - RES Stock Forecast, Price & News

RPC, Inc., through its subsidiaries, 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 segment offers pressure pumping, fracturing, acidizing, cementing, 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. The Support Services segment provides a range of rental tools for onshore and offshore oil and gas well drilling, completion, and workover activities. This segment also offers oilfield pipe inspection, and pipe management and storage services, as well as well control training and consulting services. The company operates in the United States, Africa, Canada, Argentina, China, Mexico, Eastern Europe, Latin America, the Middle East, and internationally. RPC, Inc. was founded in 1984 and is headquartered in Atlanta, Georgia.

Analysts Set New Price Targets

A number of equities analysts have recently commented on RES shares. Citigroup boosted their price objective on RPC to $10.00 and gave the stock a "na" rating in a research report on Tuesday, May 17th. StockNews.com raised RPC from a "hold" rating to a "buy" rating in a research report on Thursday, July 28th. Johnson Rice raised RPC from a "hold" rating to an "accumulate" rating and set a $13.00 price objective for the company in a research report on Wednesday, April 27th. Finally, Atb Cap Markets reaffirmed an "underperform" rating on shares of RPC in a report on Sunday, April 17th. One equities research analyst has rated the stock with a sell rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $11.50.

RPC Stock Up 1.0 %

RES traded up $0.08 on Friday, reaching $7.84. The company's stock had a trading volume of 944,017 shares, compared to its average volume of 1,277,916. The stock has a 50 day moving average of $7.25 and a two-hundred day moving average of $8.73. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 21.19 and a beta of 1.63. RPC has a fifty-two week low of $3.33 and a fifty-two week high of $12.91.

RPC (NYSE:RES - Get Rating) last announced its quarterly earnings results on Wednesday, July 27th. The oil and gas company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.12. RPC had a return on equity of 12.08% and a net margin of 6.90%. The firm had revenue of $375.51 million during the quarter, compared to the consensus estimate of $327.34 million. RPC's revenue for the quarter was up 98.9% compared to the same quarter last year. As a group, analysts anticipate that RPC will post 0.55 earnings per share for the current fiscal year.

RPC Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Wednesday, August 10th will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend is Tuesday, August 9th. RPC's dividend payout ratio is currently 21.62%.

Insider Buying and Selling at RPC

In other RPC news, Director Gary W. Rollins sold 170,781 shares of the business's stock in a transaction that occurred on Wednesday, June 22nd. The stock was sold at an average price of $7.05, for a total value of $1,204,006.05. Following the completion of the sale, the director now owns 3,160,819 shares in the company, valued at $22,283,773.95. The sale was disclosed in a document filed with the SEC, which is available through this link. In other RPC news, major shareholder Lor Inc sold 311,864 shares of the business's stock in a transaction that occurred on Tuesday, May 24th. The stock was sold at an average price of $8.85, for a total value of $2,759,996.40. Following the completion of the sale, the insider now owns 7,489,423 shares in the company, valued at $66,281,393.55. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Gary W. Rollins sold 170,781 shares of the business's stock in a transaction that occurred on Wednesday, June 22nd. The shares were sold at an average price of $7.05, for a total value of $1,204,006.05. Following the completion of the sale, the director now owns 3,160,819 shares of the company's stock, valued at approximately $22,283,773.95. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,069,494 shares of company stock worth $45,895,222. 65.90% of the stock is owned by insiders.