Several other research analysts have also recently issued reports on the company. Nomura reissued a hold rating and issued a $14.00 price target on shares of RPC in a research note on Thursday, September 22nd. Citigroup Inc. increased their price target on RPC from $15.00 to $16.00 and gave the stock a neutral rating in a research note on Monday, September 12th. GMP Securities raised RPC from a reduce rating to a hold rating in a research note on Thursday, July 28th. Credit Suisse Group AG reissued a hold rating on shares of RPC in a research note on Thursday, June 2nd. Finally, FBR & Co raised RPC from a mkt perform rating to an outperform rating and increased their price target for the stock from $11.00 to $15.00 in a research note on Wednesday, June 1st. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $14.67.
RPC (NYSE:RES) traded down 0.71% during mid-day trading on Wednesday, reaching $16.84. The company had a trading volume of 640,723 shares. The firm’s market capitalization is $3.66 billion. RPC has a 12 month low of $9.73 and a 12 month high of $17.17. The stock’s 50-day moving average is $15.55 and its 200 day moving average is $14.86.
RPC (NYSE:RES) last released its quarterly earnings results on Wednesday, July 27th. The company reported ($0.23) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.23). RPC had a negative return on equity of 16.53% and a negative net margin of 17.29%. The company earned $143 million during the quarter, compared to analysts’ expectations of $149.41 million. During the same quarter in the prior year, the business posted ($0.16) earnings per share. The company’s revenue for the quarter was down 51.9% compared to the same quarter last year. On average, analysts predict that RPC will post ($0.77) earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Ngam Advisors L.P. acquired a new position in RPC during the first quarter valued at $1,086,000. TIAA CREF Investment Management LLC raised its position in 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. raised its position in 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. Riverhead Capital Management LLC acquired a new position in RPC during the first quarter valued at $643,000. Finally, Goldman Sachs Group Inc. raised its position in RPC by 68.0% in the first quarter. Goldman Sachs Group Inc. now owns 156,272 shares of the company’s stock valued at $2,216,000 after buying an additional 63,275 shares during the last quarter. 34.92% of the stock is currently 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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