Jefferies Group initiated coverage on shares of RPC Inc. (NYSE:RES) in a report issued on Monday. The firm set a “buy” rating and a $22.00 price target on the stock. Jefferies Group’s target price points to a potential upside of 20.35% from the stock’s current price.
Several other equities research analysts also recently issued reports on RES. Nomura set a $14.00 price target on RPC and gave the company a “hold” rating in a research report on Tuesday, August 16th. Citigroup Inc. raised their price target on RPC from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, September 12th. Seaport Global Securities raised RPC from a “reduce” rating to a “neutral” rating and raised their price target for the company from $14.00 to $17.00 in a research report on Tuesday, October 4th. Zacks Investment Research downgraded RPC from a “hold” rating to a “sell” rating in a research report on Wednesday, October 19th. Finally, FBR & Co raised their price target on RPC from $17.00 to $20.00 and gave the company an “outperform” rating in a research report on Thursday, October 27th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. RPC presently has a consensus rating of “Hold” and an average target price of $15.82.
Shares of RPC (NYSE:RES) opened at 18.28 on Monday. RPC has a one year low of $9.73 and a one year high of $19.17. The company has a 50-day moving average price of $17.83 and a 200 day moving average price of $15.83. The company’s market capitalization is $3.98 billion.
RPC (NYSE:RES) last posted its earnings results on Wednesday, October 26th. The company reported ($0.18) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.21) by $0.03. The firm had revenue of $175.90 million for 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 17.64%. The business’s quarterly revenue was down 39.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.16) earnings per share. On average, analysts forecast that RPC will post ($0.71) EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Stockholders of record on Thursday, November 10th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.09%. The ex-dividend date is Tuesday, November 8th. RPC’s payout ratio is -27.03%.
In related news, CFO Ben M. Palmer sold 35,479 shares of the firm’s stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $17.90, for a total value of $635,074.10. Following the completion of the sale, the chief financial officer now owns 667,583 shares of the company’s stock, valued at $11,949,735.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 73.40% of the company’s stock.
Several hedge funds have recently modified their holdings of the stock. State Board of Administration of Florida Retirement System raised its stake in shares of RPC by 14.4% in the second quarter. State Board of Administration of Florida Retirement System now owns 98,578 shares of the company’s stock worth $1,531,000 after buying an additional 12,421 shares in the last quarter. Utah Retirement Systems raised its stake in shares of 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 in the last quarter. Emerald Acquisition Ltd. bought a new stake in shares of RPC during the second quarter worth $262,000. Gratus Capital LLC bought a new stake in shares of RPC during the second quarter worth $1,185,000. Finally, Suntrust Banks Inc. raised its stake in shares of RPC by 12.0% in the second quarter. Suntrust Banks Inc. now owns 17,999 shares of the company’s stock worth $279,000 after buying an additional 1,934 shares in the last quarter. 37.62% of the stock is owned by institutional investors and hedge funds.
RPC Company Profile