RPC Inc. (RES) Trading Down 2.7%
RPC Inc. (NYSE:RES) shares were down 2.7% during trading on Thursday . The company traded as low as $14.19 and last traded at $14.19, with a volume of 627,227 shares trading hands. The stock had previously closed at $14.59.
A number of research analysts have recently commented on RES shares. Nomura Holdings Inc. started coverage on shares of RPC in a research report on Friday, April 8th. They issued a “neutral” rating and a $14.00 price objective for the company. Iberia Capital raised shares of RPC to an “outperform” rating in a research report on Tuesday, May 17th. Morgan Stanley lifted their price objective on shares of RPC from $15.00 to $17.50 and gave the company an “equal weight” rating in a research report on Tuesday, April 19th. Seaport Global Securities downgraded shares of RPC from a “neutral” rating to a “reduce” rating and set a $12.00 price objective for the company. in a research report on Tuesday, April 19th. Finally, SunTrust Banks Inc. lifted their price objective on shares of RPC from $12.00 to $13.00 and gave the company a “neutral” rating in a research report on Friday, March 25th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. RPC presently has a consensus rating of “Hold” and an average target price of $14.40.
The stock’s market capitalization is $3.12 billion. The company’s 50-day moving average is $15.34 and its 200 day moving average is $13.85.
RPC (NYSE:RES) last announced its earnings results on Wednesday, April 27th. The company reported ($0.15) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.05. During the same quarter in the prior year, the company earned $0.04 EPS. The firm earned $189.10 million during the quarter, compared to analysts’ expectations of $208.21 million. The business’s revenue for the quarter was down 53.5% on a year-over-year basis. On average, equities analysts predict that RPC Inc. will post ($0.77) earnings per share for the current fiscal year.
In other news, CEO Richard A. Hubbell sold 100,000 shares of the stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $15.79, for a total value of $1,579,000.00. Following the completion of the sale, the chief executive officer now owns 2,739,345 shares in the company, valued at $43,254,257.55. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Several hedge funds have recently made changes to their positions in RES. California State Teachers Retirement System increased its stake in shares of RPC by 1.9% in the fourth quarter. California State Teachers Retirement System now owns 109,484 shares of the company’s stock valued at $1,308,000 after buying an additional 2,011 shares in the last quarter. California Public Employees Retirement System increased its stake in RPC by 0.6% in the fourth quarter. California Public Employees Retirement System now owns 309,300 shares of the company’s stock worth $3,696,000 after buying an additional 1,700 shares during the period. Cornerstone Capital Management Holdings LLC. increased its stake in RPC by 149.9% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 451,182 shares of the company’s stock worth $5,391,000 after buying an additional 270,634 shares during the period. First Trust Advisors LP increased its stake in RPC by 2.4% in the fourth quarter. First Trust Advisors LP now owns 506,036 shares of the company’s stock worth $6,047,000 after buying an additional 11,914 shares during the period. Finally, Stephens Investment Management Group LLC increased its stake in RPC by 153.7% in the fourth quarter. Stephens Investment Management Group LLC now owns 897,185 shares of the company’s stock worth $10,721,000 after buying an additional 543,505 shares during the period.
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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