RPC Inc. (NYSE:RES) shares were up 0.2% during trading on Tuesday after Citigroup raised their price target on the stock from $16.00 to $19.00. Citigroup currently has a neutral rating on the stock. RPC traded as high as $18.33 and last traded at $18.20, with a volume of 860,211 shares changing hands. The stock had previously closed at $18.17.
A number of other research analysts have also commented on the company. Seaport Global Securities raised RPC from a “reduce” rating to a “neutral” rating and upped their price target for the company from $14.00 to $17.00 in a research report on Tuesday, October 4th. GMP Securities raised RPC from a “reduce” rating to a “hold” rating in a research report on Thursday, July 28th. Finally, Nomura reaffirmed a “hold” rating and set a $14.00 price target on shares of RPC in a research report on Thursday, September 22nd. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $14.87.
A number of hedge funds have recently modified their holdings of RES. Teachers Advisors Inc. increased its stake 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 in the last quarter. TIAA CREF Investment Management LLC increased its stake 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 in the last quarter. First Trust Advisors LP increased its stake in shares of RPC by 91.8% in the second quarter. First Trust Advisors LP now owns 2,252,149 shares of the company’s stock valued at $34,976,000 after buying an additional 1,077,709 shares in the last quarter. Viking Fund Management LLC acquired a new stake in shares of RPC during the second quarter valued at approximately $13,977,000. Finally, Loomis Sayles & Co. L P increased its stake in shares of RPC by 118.4% in the first quarter. Loomis Sayles & Co. L P now owns 1,106,000 shares of the company’s stock valued at $15,683,000 after buying an additional 599,612 shares in the last quarter. Institutional investors and hedge funds own 34.92% of the company’s stock.
The firm’s market cap is $3.92 billion. The company’s 50 day moving average is $15.85 and its 200 day moving average is $15.03.
RPC (NYSE:RES) last posted its quarterly earnings results on Wednesday, July 27th. The company reported ($0.23) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.23). RPC had a negative net margin of 17.29% and a negative return on equity of 16.53%. The firm earned $143 million during the quarter, compared to the consensus estimate of $149.41 million. During the same quarter in the previous year, the firm posted ($0.16) earnings per share. The company’s revenue was down 51.9% on a year-over-year basis. Analysts anticipate that RPC Inc. will post ($0.77) earnings per share for the current year.
RPC Company Profile
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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