Trading Report: The RPC Inc. (RES) PT Raised to $20.00 at FBR & Co

The RPC Inc. (RES) PT Raised to $20.00 at FBR & Co

RPC Inc. (NYSE:RES) had its price target lifted by equities researchers at FBR & Co from $17.00 to $20.00 in a research report issued to clients and investors on Thursday. The firm presently has an “outperform” rating on the stock. FBR & Co’s price objective suggests a potential upside of 13.12% from the company’s previous close.

A number of other equities research analysts also recently commented on RES. Seaport Global Securities reiterated a “reduce” rating on shares of RPC in a report on Wednesday, September 28th. Nomura set a $14.00 price target on shares of RPC and gave the stock a “hold” rating in a report on Tuesday, August 16th. Zacks Investment Research upgraded shares of RPC from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Thursday. Citigroup Inc. lowered their price target on shares of RPC from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Friday, July 29th. Finally, GMP Securities upgraded shares of RPC from a “reduce” rating to a “hold” rating in a report on Thursday, July 28th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. RPC has an average rating of “Hold” and a consensus price target of $15.50.

Shares of RPC (NYSE:RES) opened at 17.68 on Thursday. The company’s 50-day moving average is $16.87 and its 200 day moving average is $15.41. RPC has a 52 week low of $9.73 and a 52 week high of $19.17. The stock’s market capitalization is $3.79 billion.

RPC (NYSE:RES) last issued its quarterly earnings results on Wednesday, October 26th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.03. The business earned $175.90 million during the quarter, compared to the consensus estimate of $157.53 million. RPC had a negative net margin of 20.36% and a negative return on equity of 17.26%. The company’s quarterly revenue was down 39.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.16) earnings per share. On average, equities analysts forecast that RPC will post ($0.74) EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Thursday, November 10th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.13%.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Glenmede Trust Co. NA boosted its position in RPC by 1.2% in the second quarter. Glenmede Trust Co. NA now owns 9,106 shares of the company’s stock worth $141,000 after buying an additional 106 shares during the last quarter. Utah Retirement Systems boosted its position in RPC by 2.9% in the second quarter. Utah Retirement Systems now owns 10,560 shares of the company’s stock worth $164,000 after buying an additional 300 shares during the last quarter. Independent Portfolio Consultants Inc. boosted its position in RPC by 4.9% in the third quarter. Independent Portfolio Consultants Inc. now owns 12,820 shares of the company’s stock worth $215,000 after buying an additional 600 shares during the last quarter. Teacher Retirement System of Texas boosted its position in RPC by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 9,093 shares of the company’s stock worth $141,000 after buying an additional 1,103 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its position in RPC by 27.5% in the third quarter. BNP Paribas Arbitrage SA now owns 6,118 shares of the company’s stock worth $103,000 after buying an additional 1,319 shares during the last quarter. 35.40% of the stock is currently owned by institutional investors and hedge funds.

RPC Company Profile

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