RPC Inc. (RES) Upgraded by Seaport Global Securities to “Neutral”
RPC Inc. (NYSE:RES) was upgraded by research analysts at Seaport Global Securities from a “reduce” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $17.00 price objective on the stock, up from their previous price objective of $14.00. Seaport Global Securities’ price objective would indicate a potential upside of 0.24% from the company’s previous close.
Other research analysts have also issued research reports about the company. GMP Securities upgraded RPC from a “reduce” rating to a “hold” rating in a research report on Thursday, July 28th. Nomura set a $14.00 target price on RPC and gave the company a “hold” rating in a research report on Tuesday, August 16th. Finally, Citigroup Inc. boosted their target price on RPC from $15.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, September 12th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. RPC has an average rating of “Hold” and an average price target of $14.67.
Shares of RPC (NYSE:RES) opened at 16.96 on Tuesday. The company has a 50 day moving average price of $15.55 and a 200 day moving average price of $14.86. The stock’s market cap is $3.69 billion. RPC has a 1-year low of $9.73 and a 1-year high of $17.09.
RPC (NYSE:RES) last announced its 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). RPC had a negative return on equity of 16.53% and a negative net margin of 17.29%. The business earned $143 million during the quarter, compared to analyst estimates of $149.41 million. During the same quarter in the previous year, the business earned ($0.16) earnings per share. The company’s revenue for the quarter was down 51.9% compared to the same quarter last year. On average, equities analysts anticipate that RPC will post ($0.77) EPS for the current year.
A number of institutional investors have recently added to or reduced their stakes in RES. Pacer Advisors Inc. purchased a new position in RPC during the second quarter valued at about $107,000. Teacher Retirement System of Texas raised its position in RPC by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 9,093 shares of the company’s stock valued at $141,000 after buying an additional 1,103 shares in the last quarter. Glenmede Trust Co. NA raised its position in RPC by 1.2% in the second quarter. Glenmede Trust Co. NA now owns 9,106 shares of the company’s stock valued at $141,000 after buying an additional 106 shares in the last quarter. Raymond James & Associates purchased a new position in RPC during the second quarter valued at about $155,000. Finally, Virginia Retirement Systems ET AL purchased a new position in RPC during the second quarter valued at about $163,000. 34.92% of the stock is currently owned by institutional investors and hedge funds.
RPC Company Profile
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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