RPC, Inc. (RES) Shares Bought by Goldman Sachs Group Inc.
Goldman Sachs Group Inc. increased its holdings in shares of RPC, Inc. (NYSE:RES) by 17.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 545,642 shares of the oil and gas company’s stock after purchasing an additional 80,021 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.25% of RPC worth $11,027,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in RES. Bbva Compass Bancshares Inc. purchased a new stake in shares of RPC during the second quarter worth about $219,000. Amalgamated Bank purchased a new stake in shares of RPC during the second quarter worth about $223,000. Pacer Advisors Inc. grew its position in shares of RPC by 12.0% during the second quarter. Pacer Advisors Inc. now owns 11,360 shares of the oil and gas company’s stock worth $230,000 after purchasing an additional 1,216 shares in the last quarter. Shapiro Capital Management LLC purchased a new stake in shares of RPC during the second quarter worth about $253,000. Finally, RFG Advisory Group LLC purchased a new stake in shares of RPC during the second quarter worth about $265,000. Hedge funds and other institutional investors own 38.21% of the company’s stock.
Several analysts recently issued reports on RES shares. Credit Suisse Group cut RPC from an “outperform” rating to a “neutral” rating in a research report on Friday, October 13th. They noted that the move was a valuation call. Barclays PLC initiated coverage on RPC in a research report on Tuesday, September 5th. They set an “equal weight” rating and a $19.00 target price for the company. Jefferies Group LLC set a $26.00 price target on RPC and gave the company a “buy” rating in a research note on Monday, August 28th. Deutsche Bank AG initiated coverage on RPC in a research note on Tuesday, October 10th. They set a “hold” rating and a $25.00 price target for the company. Finally, Morgan Stanley dropped their price target on RPC from $24.00 to $23.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 21st. Thirteen research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $23.50.
Shares of RPC, Inc. (NYSE:RES) opened at 22.64 on Thursday. RPC, Inc. has a 1-year low of $16.48 and a 1-year high of $25.00. The company’s market capitalization is $4.92 billion. The stock has a 50 day moving average price of $22.58 and a 200 day moving average price of $20.23.
RPC (NYSE:RES) last posted its quarterly earnings data on Wednesday, July 26th. The oil and gas company reported $0.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 company had revenue of $399.00 million during the quarter, compared to analyst estimates of $415.65 million. During the same period in the previous year, the business earned ($0.23) EPS. RPC’s quarterly revenue was up 179.0% on a year-over-year basis. On average, equities analysts anticipate that RPC, Inc. will post $0.82 EPS for the current fiscal year.
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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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