RPC Inc. (RES) Stock Price Down 1.9%
RPC Inc. (NYSE:RES) traded down 1.9% on Monday . The stock traded as low as $15.39 and last traded at $15.40, with a volume of 1,260,807 shares. The stock had previously closed at $15.70.
Several equities research analysts have recently weighed in on the stock. Nomura set a $14.00 price objective on shares of RPC and gave the stock a “hold” rating in a research report on Tuesday, August 16th. Citigroup Inc. increased their target price on shares of RPC from $15.00 to $17.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 13th. FBR & Co raised shares of RPC from a “mkt perform” rating to an “outperform” rating and increased their target price for the stock from $11.00 to $15.00 in a research note on Wednesday, June 1st. GMP Securities raised shares of RPC from a “reduce” rating to a “hold” rating in a research note on Thursday, July 28th. Finally, Credit Suisse Group AG reissued a “hold” rating on shares of RPC in a research note on Thursday, June 2nd. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $14.27.
The company’s market capitalization is $3.35 billion. The stock has a 50 day moving average price of $15.04 and a 200-day moving average price of $14.55.
RPC (NYSE:RES) last issued its quarterly earnings data on Wednesday, July 27th. The company reported ($0.23) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.23). The company had revenue of $143 million for the quarter, compared to analysts’ expectations of $149.41 million. During the same period in the previous year, the firm posted ($0.16) earnings per share. The firm’s revenue for the quarter was down 51.9% compared to the same quarter last year. Analysts forecast that RPC Inc. will post ($0.74) EPS for the current fiscal year.
In other RPC news, CEO Richard A. Hubbell sold 100,000 shares of the business’s stock in a transaction on Monday, June 6th. The shares were sold at an average price of $15.79, for a total transaction of $1,579,000.00. Following the transaction, the chief executive officer now directly owns 2,739,345 shares of the company’s stock, valued at approximately $43,254,257.55. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
A hedge fund recently raised its stake in RPC stock. RS Investment Management Co. LLC raised its position in RPC Inc. (NYSE:RES) by 21.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 939,930 shares of the company’s stock after buying an additional 164,300 shares during the period. RS Investment Management Co. LLC owned approximately 0.44% of RPC worth $11,232,000 as of its most recent filing with the SEC.
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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