Shares of RPC Inc. (NYSE:RES) have been given a consensus rating of “Hold” by the twenty research firms that are presently covering the company. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $14.75.
RES has been the subject of a number of research analyst reports. Nomura reaffirmed a “hold” rating and set a $14.00 price objective on shares of RPC in a research report on Thursday, September 22nd. Citigroup Inc. lifted their price objective on shares of RPC from $15.00 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 13th. Finally, GMP Securities raised shares of RPC from a “reduce” rating to a “hold” rating in a research report on Thursday, July 28th.
Shares of RPC (NYSE:RES) opened at 16.80 on Wednesday. RPC has a 12 month low of $9.51 and a 12 month high of $16.92. The firm’s market cap is $3.65 billion. The company’s 50 day moving average is $15.51 and its 200-day moving average is $14.83.
RPC (NYSE:RES) last released its earnings results on Wednesday, July 27th. The company reported ($0.23) earnings per share for the quarter, meeting the consensus estimate of ($0.23). RPC had a negative net margin of 17.29% and a negative return on equity of 16.53%. The business earned $143 million during the quarter, compared to analysts’ expectations of $149.41 million. During the same period last year, the business earned ($0.16) earnings per share. The firm’s revenue was down 51.9% on a year-over-year basis. Equities research analysts predict that RPC will post ($0.77) EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in shares of RPC during the fourth quarter valued at approximately $13,287,000. Ngam Advisors L.P. acquired a new position in shares of RPC during the first quarter valued at approximately $1,086,000. TIAA CREF Investment Management LLC increased its position in shares of RPC by 101.0% in the first quarter. TIAA CREF Investment Management LLC now owns 2,617,252 shares of the company’s stock valued at $37,113,000 after buying an additional 1,314,979 shares during the last quarter. Teachers Advisors Inc. increased its position in shares of RPC by 950.3% in the first quarter. Teachers Advisors Inc. now owns 1,557,746 shares of the company’s stock valued at $22,089,000 after buying an additional 1,409,425 shares during the last quarter. Finally, Riverhead Capital Management LLC acquired a new position in shares of RPC during the first quarter valued at approximately $643,000. 34.92% of the stock is owned by hedge funds and other institutional investors.
RPC, Inc (RPC) is a holding company for several oilfield services companies. The Company provides a range of specialized oilfield services and equipment to oil and gas companies engaged in the exploration, production and development of oil and gas properties across the United States, including the southwest, mid-continent, Gulf of Mexico, Rocky Mountain and Appalachian regions, and in selected international markets.
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