RPC Inc. (RES) Price Target Increased to $19.00 by Analysts at Citigroup Inc.
RES has been the subject of a number of other reports. GMP Securities raised RPC from a reduce rating to a hold rating in a report on Thursday, July 28th. Seaport Global Securities raised RPC from a reduce rating to a neutral rating and raised their price target for the stock from $14.00 to $17.00 in a report on Tuesday, October 4th. Finally, Nomura set a $14.00 price target on RPC and gave the stock a hold rating in a report on Tuesday, August 16th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $14.87.
RPC (NYSE:RES) traded up 0.11% during mid-day trading on Tuesday, reaching $18.06. The company had a trading volume of 476,030 shares. The stock has a 50-day moving average of $15.85 and a 200 day moving average of $15.03. RPC has a 12-month low of $9.73 and a 12-month high of $18.50. The company’s market capitalization is $3.93 billion.
RPC (NYSE:RES) last announced its quarterly earnings data on Wednesday, July 27th. The company reported ($0.23) earnings per share for the quarter, meeting the 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 period in the prior year, the company earned ($0.16) earnings per share. RPC’s revenue was down 51.9% compared to the same quarter last year. On average, analysts expect that RPC will post ($0.77) EPS for the current year.
Several hedge funds have recently bought and sold shares of RES. BNP Paribas Arbitrage SA boosted its stake in RPC by 27.5% in the third quarter. BNP Paribas Arbitrage SA now owns 6,118 shares of the company’s stock valued at $103,000 after buying an additional 1,319 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in RPC during the second quarter valued at about $107,000. Teacher Retirement System of Texas boosted its stake 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 during the last quarter. Glenmede Trust Co. NA boosted its stake 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 during the last quarter. Finally, Raymond James & Associates acquired a new stake in RPC during the second quarter valued at about $155,000. 34.92% of the stock is currently owned by institutional investors.
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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