RPC, Inc. (RES) Given Consensus Recommendation of “Buy” by Analysts
Shares of RPC, Inc. (NYSE:RES) have earned a consensus rating of “Buy” from the nineteen brokerages that are covering the company, Marketbeat reports. Nine equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $23.27.
Several research firms have commented on RES. Jefferies Group LLC set a $26.00 target price on shares of RPC and gave the stock a “buy” rating in a research report on Saturday, June 17th. Morgan Stanley decreased their target price on shares of RPC from $24.00 to $23.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 21st. Seaport Global Securities downgraded shares of RPC from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $25.00 to $20.00 in a research report on Wednesday, June 21st. BMO Capital Markets began coverage on shares of RPC in a research report on Wednesday, April 12th. They issued an “outperform” rating and a $24.00 target price for the company. Finally, Wolfe Research downgraded shares of RPC from an “outperform” rating to a “market perform” rating and set a $20.00 target price for the company. in a research report on Monday, April 17th.
Several hedge funds have recently modified their holdings of RES. Allianz Asset Management AG purchased a new stake in shares of RPC during the fourth quarter worth $4,491,000. Guggenheim Capital LLC boosted its stake in shares of RPC by 17.4% in the fourth quarter. Guggenheim Capital LLC now owns 174,265 shares of the oil and gas company’s stock worth $3,452,000 after buying an additional 25,776 shares during the last quarter. Federated Investors Inc. PA boosted its stake in shares of RPC by 52.1% in the fourth quarter. Federated Investors Inc. PA now owns 23,005 shares of the oil and gas company’s stock worth $456,000 after buying an additional 7,881 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of RPC by 21.6% in the first quarter. Alliancebernstein L.P. now owns 5,707,098 shares of the oil and gas company’s stock worth $104,497,000 after buying an additional 1,012,027 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of RPC by 199.4% in the fourth quarter. AQR Capital Management LLC now owns 351,287 shares of the oil and gas company’s stock worth $6,959,000 after buying an additional 233,970 shares during the last quarter. Institutional investors and hedge funds own 39.92% of the company’s stock.
RPC (NYSE:RES) opened at 18.79 on Monday. The stock’s market cap is $4.09 billion. The stock has a 50 day moving average of $19.22 and a 200-day moving average of $19.74. RPC has a 52 week low of $13.49 and a 52 week high of $23.36.
RPC (NYSE:RES) last posted its earnings results on Wednesday, April 26th. The oil and gas company reported $0.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.04. The company had revenue of $298.12 million during the quarter, compared to the consensus estimate of $273.35 million. RPC had a negative net margin of 12.54% and a negative return on equity of 12.86%. The company’s revenue for the quarter was up 57.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.15) earnings per share. Analysts forecast that RPC will post $0.60 earnings per share for the current year.
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RPC, Inc (RPC) is a holding company for several oilfield services companies. The Company provides a range of specialized oilfield services and equipment primarily to independent oil and gas companies engaged in the exploration, production and development of oil and gas properties throughout 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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