Canaccord Genuity Maintains a 'Hold' on RPC (RES); Dividend Help

Canaccord Genuity maintains a 'Hold' on RPC Inc. (NYSE: RES) price target of $24.00.

Canaccord analyst, Scott Burk, said, "RES reported in-line results and boosted its dividend. The stock has outperformed peers (ex-CPX) by ~15% since August, but does have 36% upside potential to our target based on trough multiples."

"Dividends help. RPC increased its dividend 25% to $0.40/sh or 2.3% yield. While not high enough in our view to significantly improve stock valuation, we agree with management that dividends are an important part of shareholder returns over time."

For more ratings news on RPC Inc. click here and for the rating history of RPC Inc. click here.

Shares of RPC Inc. closed at $17.60 yesterday, with a 52 week range of $14.21-$33.87.

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