RPC (NYSE:RES) Raised to “Buy” at Wall Street Zen

RPC (NYSE:RES) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

A number of other equities analysts have also weighed in on the stock. Citigroup boosted their price objective on shares of RPC from $5.75 to $6.00 and gave the stock a “neutral” rating in a report on Thursday, December 11th. Piper Sandler reissued an “underweight” rating on shares of RPC in a report on Thursday, December 18th. Susquehanna boosted their price target on RPC from $5.50 to $6.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 7th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of RPC in a research report on Monday, December 29th. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $5.25.

RPC Stock Performance

Shares of RES stock opened at $6.14 on Friday. The company has a market capitalization of $1.35 billion, a price-to-earnings ratio of 26.67 and a beta of 0.63. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.31 and a current ratio of 2.78. RPC has a one year low of $4.10 and a one year high of $7.17. The company’s 50-day moving average is $5.59 and its 200 day moving average is $5.04.

RPC (NYSE:RES) last issued its earnings results on Thursday, October 30th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.04. The business had revenue of $447.10 million during the quarter, compared to analysts’ expectations of $402.31 million. RPC had a net margin of 3.12% and a return on equity of 5.58%. The business’s revenue for the quarter was up 32.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.09 earnings per share. Sell-side analysts expect that RPC will post 0.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its stake in shares of RPC by 220.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,533 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 4,495 shares during the period. Tower Research Capital LLC TRC grew its position in RPC by 243.4% during the second quarter. Tower Research Capital LLC TRC now owns 8,681 shares of the oil and gas company’s stock valued at $41,000 after buying an additional 6,153 shares during the period. Hantz Financial Services Inc. increased its holdings in RPC by 940.3% during the third quarter. Hantz Financial Services Inc. now owns 9,113 shares of the oil and gas company’s stock valued at $43,000 after buying an additional 8,237 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in RPC in the second quarter worth approximately $47,000. Finally, Range Financial Group LLC bought a new position in RPC in the fourth quarter worth approximately $59,000. 41.06% of the stock is owned by hedge funds and other institutional investors.

About RPC

RPC, Inc (NYSE: RES) provides essential equipment and services to companies engaged in the exploration, production and maintenance of oil and natural gas wells. The firm operates as an equity interest holding company, partnering with a network of independent service businesses to deliver a comprehensive suite of offerings for well completion and production operations.

Through its affiliated service companies, RPC offers pressure pumping and fracturing services, coiled tubing and nitrogen pumping, downhole tools and telemetry solutions, well intervention and workover services, along with rental tools and supply-chain logistics.