RPC, Inc. (RES) PT Raised to $25.00 at Citigroup Inc.
RPC, Inc. (NYSE:RES) had its price objective lifted by research analysts at Citigroup Inc. from $23.00 to $25.00 in a report issued on Thursday. The firm presently has a “neutral” rating on the oil and gas company’s stock. Citigroup Inc.’s target price suggests a potential upside of 3.82% from the company’s previous close.
A number of other research analysts also recently weighed in on the company. Jefferies Group LLC reaffirmed a “buy” rating and set a $26.00 price target on shares of RPC in a research note on Friday, June 9th. Morgan Stanley dropped their price target on RPC from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 21st. Cowen and Company upped their price target on RPC from $20.00 to $24.00 and gave the stock a “market perform” rating in a research note on Thursday, July 27th. Zacks Investment Research downgraded RPC from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. Finally, Barclays PLC initiated coverage on RPC in a research note on Tuesday, September 5th. They set an “equal weight” rating and a $19.00 price target on the stock. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $23.26.
RPC (NYSE:RES) traded down 0.21% on Thursday, hitting $24.03. The company had a trading volume of 258,962 shares. The stock’s 50-day moving average price is $21.33 and its 200 day moving average price is $19.84. RPC has a one year low of $16.48 and a one year high of $25.00. The company’s market capitalization is $5.22 billion.
RPC (NYSE:RES) last posted its quarterly earnings results on Wednesday, July 26th. The oil and gas company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. RPC had a negative return on equity of 1.74% and a negative net margin of 1.15%. The business had revenue of $399.00 million for the quarter, compared to the consensus estimate of $415.65 million. During the same period in the prior year, the business earned ($0.23) EPS. The firm’s revenue for the quarter was up 179.0% on a year-over-year basis. On average, analysts expect that RPC will post $0.83 EPS for the current fiscal year.
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A number of institutional investors and hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company grew its holdings in shares of RPC by 7.6% in the second quarter. The Manufacturers Life Insurance Company now owns 6,514 shares of the oil and gas company’s stock valued at $132,000 after acquiring an additional 459 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of RPC by 12.0% in the second quarter. Pacer Advisors Inc. now owns 11,360 shares of the oil and gas company’s stock valued at $230,000 after acquiring an additional 1,216 shares in the last quarter. Sei Investments Co. grew its holdings in shares of RPC by 5.0% in the first quarter. Sei Investments Co. now owns 32,451 shares of the oil and gas company’s stock valued at $594,000 after acquiring an additional 1,535 shares in the last quarter. Virginia Retirement Systems ET AL grew its holdings in shares of RPC by 8.3% in the first quarter. Virginia Retirement Systems ET AL now owns 20,471 shares of the oil and gas company’s stock valued at $375,000 after acquiring an additional 1,571 shares in the last quarter. Finally, Alpha Windward LLC grew its holdings in shares of RPC by 7.5% in the second quarter. Alpha Windward LLC now owns 24,637 shares of the oil and gas company’s stock valued at $498,000 after acquiring an additional 1,717 shares in the last quarter. 38.17% of the stock is owned by hedge funds and other 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 primarily to independent oil and gas companies engaged in the exploration, production and development of oil and gas properties throughout 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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