RPC, Inc. (NYSE:RES) has received an average recommendation of “Hold” from the twenty ratings firms that are presently covering the stock, Marketbeat Ratings reports. Nine research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $11.57.
A number of research firms have weighed in on RES. Bank of America restated an “underperform” rating and issued a $9.50 price target (down from $12.00) on shares of RPC in a research note on Thursday, April 25th. Citigroup set a $6.00 price target on RPC and gave the company a “sell” rating in a research note on Tuesday, July 2nd. ValuEngine upgraded RPC from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 1st. Morgan Stanley decreased their price target on RPC from $15.00 to $10.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Finally, Barclays restated a “sell” rating and issued a $5.50 price target on shares of RPC in a research note on Sunday, July 28th.
Several hedge funds and other institutional investors have recently modified their holdings of RES. BlackRock Inc. boosted its stake in shares of RPC by 47.8% during the 2nd quarter. BlackRock Inc. now owns 4,022,457 shares of the oil and gas company’s stock worth $29,002,000 after acquiring an additional 1,301,583 shares during the period. AQR Capital Management LLC boosted its stake in shares of RPC by 37.6% during the 2nd quarter. AQR Capital Management LLC now owns 4,318,990 shares of the oil and gas company’s stock worth $30,881,000 after acquiring an additional 1,180,636 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of RPC by 1,766.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,210,368 shares of the oil and gas company’s stock worth $8,727,000 after acquiring an additional 1,145,532 shares during the period. Van ECK Associates Corp boosted its stake in shares of RPC by 53.3% during the 2nd quarter. Van ECK Associates Corp now owns 2,256,464 shares of the oil and gas company’s stock worth $16,269,000 after acquiring an additional 784,479 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of RPC by 60.6% during the 2nd quarter. Victory Capital Management Inc. now owns 1,957,901 shares of the oil and gas company’s stock worth $14,116,000 after acquiring an additional 738,922 shares during the period. Institutional investors own 31.62% of the company’s stock.
RES stock traded up $0.06 during mid-day trading on Friday, reaching $5.94. The company had a trading volume of 118,752 shares, compared to its average volume of 4,299,350. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.13 and a quick ratio of 2.45. The stock’s 50 day moving average is $6.36. The company has a market capitalization of $1.27 billion, a P/E ratio of 7.24, a price-to-earnings-growth ratio of 34.12 and a beta of 1.04. RPC has a 52 week low of $5.43 and a 52 week high of $17.24.
RPC (NYSE:RES) last posted its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.01). The company had revenue of $358.50 million during the quarter, compared to the consensus estimate of $362.40 million. RPC had a net margin of 4.55% and a return on equity of 6.37%. The firm’s revenue for the quarter was down 23.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.28 earnings per share. As a group, equities analysts expect that RPC will post 0.03 EPS for the current fiscal year.
RPC, Inc, through its subsidiaries, 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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