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

RPC Trading Up 1.0 %

NYSE:RES traded up $0.08 during trading hours on Friday, hitting $7.84. The stock had a trading volume of 944,017 shares, compared to its average volume of 1,277,916. RPC has a 1-year low of $3.33 and a 1-year high of $12.91. The business has a 50 day simple moving average of $7.25 and a two-hundred day simple moving average of $8.75. The company has a market cap of $1.70 billion, a PE ratio of 21.19 and a beta of 1.63.

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

RPC Cuts Dividend

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

Insider Transactions at RPC

In other news, major shareholder Lor Inc sold 311,864 shares of the firm's stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $8.85, for a total transaction of $2,759,996.40. Following the completion of the sale, the insider now owns 7,489,423 shares of the company's stock, valued at $66,281,393.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Gary W. Rollins sold 500,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $9.54, for a total transaction of $4,770,000.00. Following the completion of the sale, the director now owns 5,540,392 shares of the company's stock, valued at $52,855,339.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Lor Inc sold 311,864 shares of the firm's stock in a transaction 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 transaction, the insider now owns 7,489,423 shares in the company, valued at $66,281,393.55. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,069,494 shares of company stock valued at $45,895,222. 65.90% of the stock is currently owned by corporate insiders.