RPC (RES) Rating Lowered to C+ at TheStreet

TheStreet lowered shares of RPC (NYSE:RES) from a b- rating to a c+ rating in a research report sent to investors on Monday.

Several other brokerages have also recently issued reports on RES. Stephens started coverage on shares of RPC in a research report on Tuesday, January 9th. They set an equal weight rating and a $28.00 price target on the stock. Wells Fargo reissued a market perform rating on shares of RPC in a research report on Friday, January 12th. B. Riley cut shares of RPC from a buy rating to a hold rating and set a $27.00 price target on the stock. in a research report on Thursday, December 28th. Cowen reissued a hold rating and set a $19.00 price target on shares of RPC in a research report on Friday, April 13th. Finally, Guggenheim set a $25.00 price target on shares of RPC and gave the stock a buy rating in a research report on Monday, January 29th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of Hold and a consensus target price of $23.97.

Shares of RES opened at $19.26 on Monday. The stock has a market cap of $4,031.02, a PE ratio of 29.18, a price-to-earnings-growth ratio of 0.65 and a beta of 0.83. RPC has a 1 year low of $16.70 and a 1 year high of $27.07.

RPC (NYSE:RES) last issued its quarterly earnings results on Wednesday, January 24th. The oil and gas company reported $0.18 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.34 by ($0.16). The business had revenue of $427.30 million for the quarter, compared to analyst estimates of $515.04 million. RPC had a return on equity of 16.90% and a net margin of 10.19%. The firm’s revenue for the quarter was up 93.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.10) EPS. research analysts expect that RPC will post 1.6 EPS for the current fiscal year.

RPC announced that its Board of Directors has authorized a stock buyback plan on Monday, February 12th that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the oil and gas company to reacquire shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

A number of large investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its stake in RPC by 7.6% in the second quarter. The Manufacturers Life Insurance Company now owns 6,514 shares of the oil and gas company’s stock valued at $132,000 after purchasing an additional 459 shares during the last quarter. California Public Employees Retirement System increased its stake in RPC by 1.1% in the third quarter. California Public Employees Retirement System now owns 243,549 shares of the oil and gas company’s stock valued at $6,038,000 after purchasing an additional 2,549 shares during the last quarter. Eqis Capital Management Inc. increased its stake in RPC by 13.1% in the fourth quarter. Eqis Capital Management Inc. now owns 22,171 shares of the oil and gas company’s stock valued at $566,000 after purchasing an additional 2,561 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in RPC by 71.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,534 shares of the oil and gas company’s stock valued at $167,000 after purchasing an additional 2,714 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in RPC by 52.8% in the third quarter. Envestnet Asset Management Inc. now owns 8,105 shares of the oil and gas company’s stock valued at $201,000 after purchasing an additional 2,800 shares during the last quarter. 34.55% of the stock is currently owned by hedge funds and other institutional investors.

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About RPC

RPC, Inc provides a range of oilfield services and equipment for the oil and gas companies involved in the exploration, production, and development of oil and gas properties. The company operates through Technical Services and Support Services segments. The Technical Services offers pressure pumping, fracturing, acidizing, downhole tools, coiled tubing, snubbing, nitrogen, well control, wireline, pump down, and fishing services that are used in the completion, production, and maintenance of oil and gas wells.

Analyst Recommendations for RPC (NYSE:RES)

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