RPC Inc. (RES) Stock Price Up 2.4%
RPC Inc. (NYSE:RES) rose 2.4% on Wednesday . The company 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 analyst reports. GMP Securities raised RPC from a “reduce” rating to a “hold” rating in a report on Thursday, July 28th. Credit Suisse Group AG reissued a “hold” rating on shares of RPC in a report on Thursday, June 2nd. Seaport Global Securities downgraded RPC from a “neutral” rating to a “reduce” rating and set a $12.00 target price on the stock. in a report on Tuesday, April 19th. Morgan Stanley boosted their target price on RPC from $15.00 to $17.50 and gave the stock an “equal weight” rating in a report on Tuesday, April 19th. Finally, FBR & Co raised RPC from a “mkt perform” rating to an “outperform” rating and boosted their target price for the stock from $11.00 to $15.00 in a report on Wednesday, June 1st. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $14.27.
The firm’s market capitalization is $3.44 billion. The company’s 50 day moving average is $14.90 and its 200 day moving average is $14.32.
RPC (NYSE:RES) last posted its quarterly earnings data on Wednesday, July 27th. The company reported ($0.23) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.23). The firm earned $143 million during the quarter, compared to the consensus estimate of $149.41 million. The firm’s quarterly revenue was down 51.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.16) EPS. On average, equities analysts forecast that RPC Inc. will post ($0.74) earnings per share for the current fiscal year.
In other news, CEO Richard A. Hubbell sold 100,000 shares of the business’s stock in a transaction on Monday, June 6th. The stock was sold at an average price of $15.79, for a total value of $1,579,000.00. Following the sale, the chief executive officer now owns 2,739,345 shares of the company’s stock, valued at approximately $43,254,257.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Several hedge funds have recently bought and sold shares of the company. RS Investment Management Co. LLC increased its stake in RPC by 21.2% in the fourth quarter. RS Investment Management Co. LLC now owns 939,930 shares of the company’s stock worth $11,232,000 after buying an additional 164,300 shares in the last quarter. 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 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 in the last quarter. Finally, California State Teachers Retirement System increased its stake in RPC by 1.9% in the fourth quarter. California State Teachers Retirement System now owns 109,484 shares of the company’s stock worth $1,308,000 after buying an additional 2,011 shares in the last quarter.
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.