RPC Inc. (RES) Upgraded at Seaport Global Securities
Seaport Global Securities upgraded shares of RPC Inc. (NYSE:RES) from a reduce rating to a neutral rating in a research note issued to investors on Tuesday morning. They currently have $17.00 target price on the stock, up from their prior target price of $14.00.
Several other brokerages also recently issued reports on RES. Nomura set a $14.00 price target on shares of RPC and gave the stock a hold rating in a report on Tuesday, August 16th. Citigroup Inc. lowered their price target on shares of RPC from $17.00 to $15.00 and set a neutral rating for the company in a report on Friday, July 29th. Finally, GMP Securities upgraded shares of RPC from a reduce rating to a hold rating in a report on Thursday, July 28th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $14.67.
RPC (NYSE:RES) opened at 17.81 on Tuesday. The firm’s 50-day moving average price is $15.69 and its 200 day moving average price is $14.93. The company’s market capitalization is $3.87 billion. RPC has a 12-month low of $9.73 and a 12-month high of $17.85.
RPC (NYSE:RES) last announced its quarterly earnings data on Wednesday, July 27th. The company reported ($0.23) EPS for the quarter, meeting the consensus estimate of ($0.23). RPC had a negative net margin of 17.29% and a negative return on equity of 16.53%. The business earned $143 million during the quarter, compared to the consensus estimate of $149.41 million. During the same period in the previous year, the business earned ($0.16) earnings per share. The company’s revenue was down 51.9% on a year-over-year basis. On average, analysts expect that RPC will post ($0.77) earnings per share for the current year.
A number of hedge funds have recently modified their holdings of the stock. BNP Paribas Arbitrage SA boosted its position in RPC by 27.5% in the third quarter. BNP Paribas Arbitrage SA now owns 6,118 shares of the company’s stock worth $103,000 after buying an additional 1,319 shares during the period. Pacer Advisors Inc. bought a new position in RPC during the second quarter worth about $107,000. Glenmede Trust Co. NA boosted its position in RPC by 1.2% in the second quarter. Glenmede Trust Co. NA now owns 9,106 shares of the company’s stock worth $141,000 after buying an additional 106 shares during the period. Teacher Retirement System of Texas boosted its position in RPC by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 9,093 shares of the company’s stock worth $141,000 after buying an additional 1,103 shares during the period. Finally, Raymond James & Associates bought a new position in RPC during the second quarter worth about $155,000. 34.92% of the stock is currently owned by institutional investors and hedge funds.
RPC Company Profile
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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