RPC Inc. (RES) Stock Price Up 2.4%
RPC Inc. (NYSE:RES)’s share price rose 2.4% during mid-day trading on Wednesday . The stock traded as high as $15.96 and last traded at $15.93, with a volume of 1,152,992 shares changing hands. The stock had previously closed at $15.56.
RES has been the topic of several recent research reports. Morgan Stanley reiterated a “hold” rating and issued a $19.00 price target (up previously from $17.50) on shares of RPC in a report on Wednesday, April 27th. Cowen and Company reiterated an “outperform” rating and set a $17.00 price objective (up previously from $14.00) on shares of RPC in a report on Thursday, April 28th. GMP Securities cut RPC from a “hold” rating to a “reduce” rating in a report on Thursday, April 28th. FBR & Co reiterated a “buy” rating on shares of RPC in a report on Thursday, April 28th. Finally, Iberia Capital raised RPC to an “outperform” rating in a research report on Tuesday, May 17th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $14.27.
The company’s 50 day moving average is $14.96 and its 200 day moving average is $14.34. The firm’s market cap is $3.53 billion.
RPC (NYSE:RES) last posted its quarterly earnings data on Wednesday, July 27th. The company reported ($0.23) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.23). The business had revenue of $143 million for the quarter, compared to the consensus estimate of $149.41 million. During the same period in the prior year, the business posted ($0.16) EPS. RPC’s quarterly revenue was down 51.9% on a year-over-year basis. Equities research analysts forecast that RPC Inc. will post ($0.74) earnings per share for the current year.
In related news, CEO Richard A. Hubbell sold 100,000 shares of RPC stock in a transaction on Monday, June 6th. The stock was sold at an average price of $15.79, for a total transaction of $1,579,000.00. Following the completion of the sale, the chief executive officer now owns 2,739,345 shares of the company’s stock, valued at $43,254,257.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.
Other large investors have bought and sold shares of the company. California Public Employees Retirement System raised 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 valued at $3,696,000 after buying an additional 1,700 shares in the last quarter. Stephens Investment Management Group LLC raised its stake in shares of RPC by 153.7% in the fourth quarter. Stephens Investment Management Group LLC now owns 897,185 shares of the company’s stock valued at $10,721,000 after buying an additional 543,505 shares during the period. Finally, RS Investment Management Co. LLC raised its stake in shares of RPC by 21.2% in the fourth quarter. RS Investment Management Co. LLC now owns 939,930 shares of the company’s stock valued at $11,232,000 after buying an additional 164,300 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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