Several other equities analysts have also recently weighed in on RES. GMP Securities raised RPC from a reduce rating to a hold rating in a report on Thursday, July 28th. Nomura set a $14.00 price objective on RPC and gave the company a hold rating in a report on Tuesday, August 16th. Finally, Seaport Global Securities raised RPC from a reduce rating to a neutral rating and lifted their price objective for the company from $14.00 to $17.00 in a report on Tuesday, October 4th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Hold and an average target price of $14.87.
RPC (NYSE:RES) traded up 0.11% during mid-day trading on Tuesday, hitting $18.06. The company had a trading volume of 476,030 shares. The stock’s market capitalization is $3.93 billion. RPC has a 1-year low of $9.73 and a 1-year high of $18.50. The stock has a 50 day moving average price of $15.85 and a 200-day moving average price of $15.03.
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, meeting the Thomson Reuters’ consensus estimate of ($0.23). The business earned $143 million during the quarter, compared to the consensus estimate of $149.41 million. RPC had a negative return on equity of 16.53% and a negative net margin of 17.29%. The firm’s quarterly revenue was down 51.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.16) EPS. On average, analysts forecast that RPC will post ($0.77) earnings per share for the current year.
Institutional investors have recently modified their holdings of the company. Alliancebernstein L.P. raised its stake in RPC by 1.8% in the second quarter. Alliancebernstein L.P. now owns 5,461,293 shares of the company’s stock worth $84,814,000 after buying an additional 96,704 shares during the period. Vanguard Group Inc. raised its stake in RPC by 4.2% in the second quarter. Vanguard Group Inc. now owns 4,374,514 shares of the company’s stock worth $67,936,000 after buying an additional 178,032 shares during the period. Dimensional Fund Advisors LP raised its stake in RPC by 8.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,974,207 shares of the company’s stock worth $46,188,000 after buying an additional 228,052 shares during the period. TIAA CREF Investment Management LLC raised its stake 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 worth $37,113,000 after buying an additional 1,314,979 shares during the period. Finally, Teachers Advisors Inc. raised its stake in RPC by 57.2% in the second quarter. Teachers Advisors Inc. now owns 2,449,157 shares of the company’s stock worth $38,035,000 after buying an additional 891,411 shares during the period. 34.92% of the stock is owned by institutional investors and hedge funds.
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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