RPC (NYSE:RES) Stock Rating Lowered by Freedom Broker

RPC (NYSE:RES) was downgraded by research analysts at Freedom Broker from a “hold” rating to a “sell” rating in a report issued on Friday, Benzinga reports. They presently have a $5.00 price objective on the oil and gas company’s stock, down from their previous price objective of $6.00. Freedom Broker‘s price objective points to a potential downside of 18.96% from the company’s previous close.

A number of other equities research analysts have also recently commented on the company. Evercore cut RPC to an “outperform” rating in a research note on Friday. Weiss Ratings downgraded RPC from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, September 16th. Finally, Susquehanna dropped their target price on RPC from $7.50 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, July 8th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $5.67.

RPC Price Performance

RPC stock opened at $6.17 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.85 and a current ratio of 3.52. RPC has a 52-week low of $4.99 and a 52-week high of $8.16. The stock’s 50 day moving average price is $6.15 and its two-hundred day moving average price is $6.37. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of -36.29 and a beta of 0.82.

RPC (NYSE:RES) last issued its earnings results on Thursday, October 29th. The oil and gas company reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. The business had revenue of $467.74 million for the quarter, compared to analyst estimates of $469.12 million. RPC had a negative net margin of 1.77% and a positive return on equity of 5.26%. RPC’s revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.09 earnings per share. On average, equities analysts predict that RPC will post 0.26 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp bought a new position in RPC in the 2nd quarter worth about $9,614,000. Legal & General Group Plc bought a new stake in RPC during the 2nd quarter worth approximately $1,240,000. Empowered Funds LLC bought a new position in RPC in the 2nd quarter worth about $6,469,000. Bank of America Corp DE bought a new position in shares of RPC in the second quarter worth approximately $4,847,000. Finally, Congress Asset Management Co. lifted its position in RPC by 21.7% during the third quarter. Congress Asset Management Co. now owns 1,924,866 shares of the oil and gas company’s stock valued at $10,837,000 after purchasing an additional 343,601 shares during the last quarter. 41.06% of the stock is currently owned by hedge funds and other institutional investors.

RPC Company Profile

RPC, Inc (NYSE: RES) is an oilfield services company that provides specialized equipment and services to energy producers and exploration and production companies. Its offerings support the drilling, completion, production and maintenance of oil and natural gas wells.

The company’s services include pressure pumping, coiled tubing, well control, nitrogen services, downhole tools, well testing, fishing and rental equipment. These services are used in activities such as hydraulic fracturing, well intervention, workover operations and production enhancement.

RPC was founded in 1984 and is headquartered in Atlanta, Georgia.