RPC Inc. (RES) Given Reduce Rating at Seaport Global Securities
Several other equities research analysts also recently weighed in on the company. Nomura reaffirmed a hold rating and set a $14.00 price target on shares of RPC in a report on Thursday, September 22nd. Citigroup Inc. increased their price target on RPC from $15.00 to $16.00 and gave the stock a neutral rating in a report on Monday, September 12th. GMP Securities raised RPC from a reduce rating to a hold rating in a report on Thursday, July 28th. Credit Suisse Group AG reaffirmed a hold rating on shares of RPC in a report on Thursday, June 2nd. Finally, FBR & Co raised RPC from a mkt perform rating to an outperform rating and increased their price target for the stock from $11.00 to $15.00 in a report on Wednesday, June 1st. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. RPC has an average rating of Hold and an average price target of $14.67.
RPC (NYSE:RES) traded down 0.71% during midday trading on Wednesday, hitting $16.84. 640,723 shares of the stock traded hands. RPC has a 52-week low of $9.73 and a 52-week high of $17.17. The firm’s market cap is $3.66 billion. The stock has a 50-day moving average of $15.55 and a 200 day moving average of $14.86.
RPC (NYSE:RES) last issued its quarterly earnings results on Wednesday, July 27th. The company reported ($0.23) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.23). RPC had a negative return on equity of 16.53% and a negative net margin of 17.29%. The firm earned $143 million during the quarter, compared to the consensus estimate of $149.41 million. During the same period last year, the company earned ($0.16) earnings per share. The company’s revenue for the quarter was down 51.9% on a year-over-year basis. Equities analysts forecast that RPC will post ($0.77) EPS for the current year.
Hedge funds have recently bought and sold shares of the company. Teachers Advisors Inc. boosted its stake in RPC by 950.3% in the first quarter. Teachers Advisors Inc. now owns 1,557,746 shares of the company’s stock worth $22,089,000 after buying an additional 1,409,425 shares in the last quarter. TIAA CREF Investment Management LLC boosted 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 in the last quarter. First Trust Advisors LP boosted its stake in RPC by 91.8% in the second quarter. First Trust Advisors LP now owns 2,252,149 shares of the company’s stock worth $34,976,000 after buying an additional 1,077,709 shares in the last quarter. Viking Fund Management LLC bought a new stake in RPC during the second quarter worth approximately $13,977,000. Finally, Loomis Sayles & Co. L P boosted its stake in RPC by 118.4% in the first quarter. Loomis Sayles & Co. L P now owns 1,106,000 shares of the company’s stock worth $15,683,000 after buying an additional 599,612 shares in the last quarter. Hedge funds and other institutional investors own 34.92% of the company’s stock.
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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