RPC (RES) Stock Rating Lowered by ValuEngine

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ValuEngine downgraded shares of RPC (NYSE:RES) from a sell rating to a strong sell rating in a report issued on Wednesday morning.

Other research analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of RPC from a hold rating to a sell rating in a research note on Thursday, January 3rd. Cowen reduced their price objective on shares of RPC from $15.00 to $12.00 and set a market perform rating for the company in a research note on Friday, October 26th. Wells Fargo & Co lowered shares of RPC from a market perform rating to an underperform rating in a research note on Monday, January 7th. They noted that the move was a valuation call. Wolfe Research set a $14.00 price objective on shares of RPC and gave the stock a sell rating in a research note on Thursday, October 25th. Finally, Raymond James lowered shares of RPC from an outperform rating to a market perform rating in a research note on Thursday, December 13th. Eight equities research analysts have rated the stock with a sell rating and twelve have given a hold rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $14.60.

Shares of RES opened at $11.00 on Wednesday. RPC has a fifty-two week low of $9.35 and a fifty-two week high of $25.75. The company has a market capitalization of $2.33 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 1.20 and a beta of 0.99. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.74 and a quick ratio of 3.01.

RPC (NYSE:RES) last announced its quarterly earnings results on Wednesday, October 24th. The oil and gas company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.04). RPC had a return on equity of 20.48% and a net margin of 12.40%. The business had revenue of $439.99 million during the quarter, compared to analysts’ expectations of $456.54 million. During the same period in the previous year, the company posted $0.26 EPS. RPC’s revenue for the quarter was down 6.6% on a year-over-year basis. As a group, equities analysts expect that RPC will post 0.83 EPS for the current year.

A number of institutional investors have recently modified their holdings of the business. Federated Investors Inc. PA increased its stake in RPC by 108.7% during the 3rd quarter. Federated Investors Inc. PA now owns 759,907 shares of the oil and gas company’s stock valued at $11,763,000 after purchasing an additional 395,831 shares in the last quarter. AQR Capital Management LLC increased its stake in RPC by 8.0% during the 3rd quarter. AQR Capital Management LLC now owns 3,466,461 shares of the oil and gas company’s stock valued at $53,661,000 after purchasing an additional 257,686 shares in the last quarter. Signaturefd LLC increased its stake in RPC by 1,723.7% during the 3rd quarter. Signaturefd LLC now owns 19,660 shares of the oil and gas company’s stock valued at $304,000 after purchasing an additional 18,582 shares in the last quarter. Vident Investment Advisory LLC acquired a new position in RPC during the 3rd quarter valued at approximately $364,000. Finally, BlueMountain Capital Management LLC increased its stake in RPC by 4,461.4% during the 3rd quarter. BlueMountain Capital Management LLC now owns 585,365 shares of the oil and gas company’s stock valued at $9,061,000 after purchasing an additional 572,532 shares in the last quarter. Institutional investors and hedge funds own 32.97% of the company’s stock.

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.

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Analyst Recommendations for RPC (NYSE:RES)

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