RPC Inc. (RES) Receives “Reduce” Rating from Seaport Global Securities
RPC Inc. (NYSE:RES)‘s stock had its “reduce” rating reissued by stock analysts at Seaport Global Securities in a note issued to investors on Wednesday.
A number of other equities research analysts also recently issued reports on the company. Nomura reiterated a “hold” rating and issued a $14.00 price objective on shares of RPC in a research report on Thursday, September 22nd. Citigroup Inc. increased their price objective on RPC from $15.00 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 13th. Credit Suisse Group AG reiterated a “hold” rating on shares of RPC in a research report on Thursday, June 2nd. FBR & Co upgraded RPC from a “mkt perform” rating to an “outperform” rating and increased their price objective for the stock from $11.00 to $15.00 in a research report on Wednesday, June 1st. Finally, GMP Securities upgraded RPC from a “reduce” rating to a “hold” rating in a research report on Thursday, July 28th. Two research 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 company. The company presently has a consensus rating of “Hold” and an average target price of $14.67.
RPC (NYSE:RES) traded down 0.71% during mid-day trading on Wednesday, hitting $16.84. The stock had a trading volume of 610,000 shares. The stock’s market cap is $3.66 billion. The firm’s 50-day moving average price is $15.55 and its 200-day moving average price is $14.86. RPC has a 1-year low of $9.73 and a 1-year high of $17.17.
RPC (NYSE:RES) last posted its earnings results on Wednesday, July 27th. The company reported ($0.23) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.23). The firm had revenue of $143 million for the quarter, compared to the consensus estimate of $149.41 million. RPC had a negative return on equity of 16.53% and a negative net margin of 17.29%. The business’s quarterly revenue was down 51.9% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.16) earnings per share. On average, equities analysts expect that RPC will post ($0.77) earnings per share for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Carnick & Kubik Group LLC acquired a new stake in RPC during the second quarter valued at about $471,000. Schwab Charles Investment Management Inc. boosted its stake in RPC by 60.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 604,308 shares of the company’s stock valued at $9,385,000 after buying an additional 226,977 shares during the last quarter. AHL Partners LLP boosted its stake in RPC by 27.3% in the second quarter. AHL Partners LLP now owns 52,131 shares of the company’s stock valued at $809,000 after buying an additional 11,181 shares during the last quarter. AQR Capital Management LLC boosted its stake in RPC by 72.0% in the second quarter. AQR Capital Management LLC now owns 219,790 shares of the company’s stock valued at $3,413,000 after buying an additional 91,978 shares during the last quarter. Finally, KCG Holdings Inc. acquired a new stake in RPC during the second quarter valued at about $182,000. 34.92% of the stock is currently owned by hedge funds and other institutional investors.
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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