RPC Inc. (NYSE:RES) was upgraded by equities researchers at Seaport Global Securities from a “reduce” rating to a “neutral” rating in a research note issued on Tuesday. The firm presently has a $17.00 price target on the stock, up from their previous price target of $14.00. Seaport Global Securities’ target price suggests a potential downside of 2.91% from the stock’s current price.
Several other research firms have also recently weighed in on RES. GMP Securities upgraded RPC from a “reduce” rating to a “hold” rating in a report on Thursday, July 28th. Citigroup Inc. boosted their price target on RPC from $15.00 to $17.00 and gave the stock a “neutral” rating in a report on Wednesday, July 13th. Finally, Nomura set a $14.00 price target on RPC and gave the stock a “hold” rating in a report on Tuesday, August 16th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $14.67.
Shares of RPC (NYSE:RES) opened at 17.51 on Tuesday. The company’s market capitalization is $3.81 billion. RPC has a 1-year low of $9.73 and a 1-year high of $17.84. The company’s 50-day moving average price is $15.64 and its 200-day moving average price is $14.90.
RPC (NYSE:RES) last released its earnings results on Wednesday, July 27th. The company reported ($0.23) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.23). The firm had revenue of $143 million for the quarter, compared to analysts’ expectations of $149.41 million. RPC had a negative return on equity of 16.53% and a negative net margin of 17.29%. The business’s revenue for the quarter was down 51.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.16) earnings per share. On average, equities analysts expect that RPC will post ($0.77) earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SA increased its stake in shares of RPC by 27.5% in the third quarter. BNP Paribas Arbitrage SA now owns 6,118 shares of the company’s stock valued at $103,000 after buying an additional 1,319 shares during the period. Pacer Advisors Inc. bought a new stake in shares of RPC during the second quarter valued at about $107,000. Glenmede Trust Co. NA increased its stake in shares of RPC by 1.2% in the second quarter. Glenmede Trust Co. NA now owns 9,106 shares of the company’s stock valued at $141,000 after buying an additional 106 shares during the period. Teacher Retirement System of Texas increased its stake in shares of RPC by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 9,093 shares of the company’s stock valued at $141,000 after buying an additional 1,103 shares during the period. Finally, Raymond James & Associates bought a new stake in shares of RPC during the second quarter valued at about $155,000. Institutional investors and hedge funds own 34.92% of the company’s stock.
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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