RPC (NYSE:RES) has been given a $14.00 target price by equities researchers at Morgan Stanley in a research report issued to clients and investors on Thursday. The brokerage currently has a “sell” rating on the oil and gas company’s stock. Morgan Stanley’s price objective would suggest a potential downside of 8.50% from the company’s current price.
Other equities research analysts have also issued reports about the company. BMO Capital Markets restated a “buy” rating and issued a $19.00 target price on shares of RPC in a report on Wednesday, July 11th. Cowen restated a “hold” rating and issued a $15.00 target price on shares of RPC in a report on Thursday, July 26th. Jefferies Financial Group restated a “hold” rating and issued a $15.00 target price on shares of RPC in a report on Thursday, July 26th. B. Riley set a $16.00 target price on RPC and gave the stock a “hold” rating in a report on Thursday, July 26th. Finally, Zacks Investment Research upgraded RPC from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 3rd. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $19.13.
Shares of RPC stock opened at $15.30 on Thursday. The stock has a market cap of $3.33 billion, a PE ratio of 23.18, a PEG ratio of 0.92 and a beta of 0.84. RPC has a 52-week low of $12.96 and a 52-week high of $27.07.
RPC (NYSE:RES) last announced its quarterly earnings results on Wednesday, July 25th. The oil and gas company reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.01). The firm had revenue of $467.93 million for the quarter, compared to analyst estimates of $488.40 million. RPC had a net margin of 12.60% and a return on equity of 23.23%. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.20 earnings per share. Sell-side analysts anticipate that RPC will post 0.94 earnings per share for the current year.
Several hedge funds have recently modified their holdings of RES. NumerixS Investment Technologies Inc lifted its holdings in shares of RPC by 101.1% during the second quarter. NumerixS Investment Technologies Inc now owns 10,861 shares of the oil and gas company’s stock worth $159,000 after buying an additional 5,461 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of RPC by 73.6% during the first quarter. Envestnet Asset Management Inc. now owns 9,164 shares of the oil and gas company’s stock worth $166,000 after buying an additional 3,885 shares during the last quarter. Quantitative Systematic Strategies LLC acquired a new position in shares of RPC during the second quarter worth approximately $169,000. BlueMountain Capital Management LLC lifted its holdings in shares of RPC by 484.4% during the second quarter. BlueMountain Capital Management LLC now owns 12,833 shares of the oil and gas company’s stock worth $187,000 after buying an additional 10,637 shares during the last quarter. Finally, Point72 Hong Kong Ltd lifted its holdings in shares of RPC by 682.3% during the second quarter. Point72 Hong Kong Ltd now owns 13,667 shares of the oil and gas company’s stock worth $199,000 after buying an additional 11,920 shares during the last quarter. Institutional investors own 31.74% of the company’s stock.
RPC Company Profile
RPC, Inc provides a range of oilfield services and equipment for the oil and gas companies involved in the exploration, production, and development of oil and gas properties. The company operates through Technical Services and Support Services segments. The Technical Services offers pressure pumping, fracturing, acidizing, downhole tools, coiled tubing, snubbing, nitrogen, well control, wireline, pump down, and fishing services that are used in the completion, production, and maintenance of oil and gas wells.
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