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.

RPC Stock Performance

Shares of RPC stock opened at $7.51 on Wednesday. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of 20.30 and a beta of 1.63. The stock has a 50 day moving average price of $7.35 and a 200-day moving average price of $8.71. RPC has a one year low of $3.33 and a one year high of $12.91.

RPC (NYSE:RES - Get Rating) last announced its earnings results on Wednesday, July 27th. The oil and gas company reported $0.22 EPS for the quarter, topping 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 analysts' expectations of $327.34 million. The business's revenue for the quarter was up 98.9% on a year-over-year basis. Sell-side analysts predict that RPC will post 0.63 earnings per share for the current fiscal year.

RPC Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Investors of record on Wednesday, August 10th will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Tuesday, August 9th.

Wall Street Analysts Forecast Growth

RES has been the subject of several research analyst reports. Atb Cap Markets restated an "underperform" rating on shares of RPC in a report on Sunday, April 17th. Citigroup lifted their target price on RPC to $10.00 and gave the stock a "na" rating in a report on Tuesday, May 17th. StockNews.com upgraded RPC from a "hold" rating to a "buy" rating in a report on Thursday, July 28th. Finally, Johnson Rice upgraded RPC from a "hold" rating to an "accumulate" rating and set a $13.00 target price for the company in a report on Wednesday, April 27th. One analyst has rated the stock with a sell rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $11.50.

Insider Buying and Selling

In related news, Director Gary W. Rollins sold 332,736 shares of the firm's stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $9.01, for a total transaction of $2,997,951.36. Following the completion of the sale, the director now directly owns 7,801,287 shares of the company's stock, valued at approximately $70,289,595.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Gary W. Rollins sold 332,736 shares of the firm's stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $9.01, for a total transaction of $2,997,951.36. Following the completion of the sale, the director now directly owns 7,801,287 shares of the company's stock, valued at approximately $70,289,595.87. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Lor Inc sold 311,864 shares of the firm'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 sale, the insider now directly owns 7,489,423 shares of the company's stock, valued at $66,281,393.55. The disclosure for this sale can be found here. In the last three months, insiders sold 5,069,494 shares of company stock valued at $45,895,222. Insiders own 65.90% of the company's stock.