RPC (NYSE:RES) Sets New 52-Week High – Should You Buy?

Shares of RPC, Inc. (NYSE:RES) reached a new 52-week high during trading on Monday . The stock traded as high as $7.39 and last traded at $7.3250, with a volume of 201 shares changing hands. The stock had previously closed at $7.32.

Analyst Upgrades and Downgrades

A number of research firms have commented on RES. Susquehanna lifted their price objective on shares of RPC from $5.50 to $6.00 and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Wall Street Zen cut shares of RPC from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Piper Sandler reaffirmed an “underweight” rating on shares of RPC in a research note on Thursday, December 18th. Weiss Ratings restated a “hold (c-)” rating on shares of RPC in a report on Monday, December 29th. Finally, Citigroup increased their target price on RPC from $5.75 to $6.00 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $5.25.

RPC Trading Up 0.8%

The stock has a market cap of $1.63 billion, a P/E ratio of 49.10 and a beta of 0.69. The firm’s 50 day simple moving average is $6.26 and its two-hundred day simple moving average is $5.58. The company has a quick ratio of 2.70, a current ratio of 3.24 and a debt-to-equity ratio of 0.03.

RPC (NYSE:RES) last posted its quarterly earnings results on Tuesday, February 3rd. The oil and gas company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). RPC had a return on equity of 5.24% and a net margin of 1.97%.The business had revenue of $425.78 million during the quarter, compared to the consensus estimate of $423.30 million. During the same quarter in the previous year, the business posted $0.06 earnings per share. The company’s quarterly revenue was up 26.9% compared to the same quarter last year. As a group, equities research analysts predict that RPC, Inc. will post 0.31 earnings per share for the current fiscal year.

RPC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 10th were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $0.16 annualized dividend and a dividend yield of 2.2%. RPC’s dividend payout ratio is 106.67%.

Institutional Investors Weigh In On RPC

Several large investors have recently made changes to their positions in the company. AQR Capital Management LLC boosted its holdings in shares of RPC by 1.1% in the first quarter. AQR Capital Management LLC now owns 544,365 shares of the oil and gas company’s stock valued at $2,994,000 after acquiring an additional 5,914 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in RPC by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,558 shares of the oil and gas company’s stock worth $278,000 after purchasing an additional 2,190 shares during the period. Strs Ohio acquired a new stake in RPC in the first quarter worth approximately $92,000. Geode Capital Management LLC boosted its stake in RPC by 4.1% during the 2nd quarter. Geode Capital Management LLC now owns 2,078,778 shares of the oil and gas company’s stock valued at $9,834,000 after purchasing an additional 82,457 shares in the last quarter. Finally, Creative Planning increased its position in shares of RPC by 5.0% during the 2nd quarter. Creative Planning now owns 256,621 shares of the oil and gas company’s stock valued at $1,214,000 after purchasing an additional 12,152 shares during the period. Institutional investors and hedge funds own 41.06% of the company’s stock.

RPC Company Profile

RPC, Inc (NYSE: RES) provides essential equipment and services to companies engaged in the exploration, production and maintenance of oil and natural gas wells. The firm operates as an equity interest holding company, partnering with a network of independent service businesses to deliver a comprehensive suite of offerings for well completion and production operations.

Through its affiliated service companies, RPC offers pressure pumping and fracturing services, coiled tubing and nitrogen pumping, downhole tools and telemetry solutions, well intervention and workover services, along with rental tools and supply-chain logistics.