RPC (NYSE:RES) Shares Gap Up to $4.99

Share on StockTwits

Shares of RPC, Inc. (NYSE:RES) gapped up prior to trading on Tuesday . The stock had previously closed at $5.26, but opened at $4.99. RPC shares last traded at $5.18, with a volume of 239,050 shares trading hands.

Several equities analysts have recently issued reports on the stock. Wells Fargo & Co decreased their price target on shares of RPC from $5.50 to $4.50 and set an “underperform” rating for the company in a report on Thursday, September 12th. Citigroup raised shares of RPC from a “sell” rating to a “neutral” rating and boosted their price target for the company from $4.80 to $4.90 in a report on Monday. They noted that the move was a valuation call. ValuEngine raised shares of RPC from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Gabelli lowered shares of RPC from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Finally, Barclays decreased their price target on shares of RPC from $5.50 to $5.00 and set an “underweight” rating for the company in a report on Monday, September 30th. Seven equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $10.07.

The firm has a market capitalization of $989.21 million, a P/E ratio of 6.21 and a beta of 1.09. The firm’s 50-day moving average is $5.30 and its 200 day moving average is $7.31. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.45 and a current ratio of 3.13.

RPC (NYSE:RES) last posted its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The company had revenue of $358.50 million during the quarter, compared to the consensus estimate of $362.40 million. RPC had a net margin of 4.55% and a return on equity of 6.37%. The company’s revenue was down 23.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.28 earnings per share. As a group, research analysts expect that RPC, Inc. will post -0.02 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of RES. BlackRock Inc. lifted its position in RPC by 47.8% in the 2nd quarter. BlackRock Inc. now owns 4,022,457 shares of the oil and gas company’s stock valued at $29,002,000 after acquiring an additional 1,301,583 shares in the last quarter. AQR Capital Management LLC lifted its position in RPC by 37.6% during the 2nd quarter. AQR Capital Management LLC now owns 4,318,990 shares of the oil and gas company’s stock worth $30,881,000 after buying an additional 1,180,636 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in RPC by 1,766.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,210,368 shares of the oil and gas company’s stock worth $8,727,000 after buying an additional 1,145,532 shares in the last quarter. Van ECK Associates Corp lifted its position in RPC by 53.3% during the 2nd quarter. Van ECK Associates Corp now owns 2,256,464 shares of the oil and gas company’s stock worth $16,269,000 after buying an additional 784,479 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in RPC by 60.6% during the 2nd quarter. Victory Capital Management Inc. now owns 1,957,901 shares of the oil and gas company’s stock worth $14,116,000 after buying an additional 738,922 shares in the last quarter. 33.81% of the stock is currently owned by institutional investors and hedge funds.

About RPC (NYSE:RES)

RPC, Inc, through its subsidiaries, 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.

See Also: Green Investing

Receive News & Ratings for RPC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RPC and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Spark New Zealand  Stock Price Crosses Above 200-Day Moving Average of $13.35
Spark New Zealand Stock Price Crosses Above 200-Day Moving Average of $13.35
VictoryShares US Small Cap Volatility Wtd  Stock Pass Above Two Hundred Day Moving Average of $45.55
VictoryShares US Small Cap Volatility Wtd Stock Pass Above Two Hundred Day Moving Average of $45.55
Irhythm Technologies Target of Unusually Large Options Trading
Irhythm Technologies Target of Unusually Large Options Trading
NYSE:PNC-Q   Shares Down 0.5%
NYSE:PNC-Q Shares Down 0.5%
Pharmaust  Trading Down 4.5%
Pharmaust Trading Down 4.5%
JinkoSolar  Issues Quarterly  Earnings Results
JinkoSolar Issues Quarterly Earnings Results


© 2006-2019 Ticker Report