RPC Inc. (RES) Shares Up 2.9%
RPC Inc. (NYSE:RES) shares shot up 2.9% on Wednesday . The company traded as high as $15.40 and last traded at $15.28, with a volume of 591,679 shares changing hands. The stock had previously closed at $14.85.
A number of research firms recently weighed in on RES. Citigroup Inc. lifted their price objective on shares of RPC from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, September 12th. Nomura set a $14.00 price objective on shares of RPC and gave the company a “hold” rating in a research note on Tuesday, August 16th. FBR & Co upgraded shares of RPC from a “mkt perform” rating to an “outperform” rating and lifted their price objective for the company from $11.00 to $15.00 in a research note on Wednesday, June 1st. Credit Suisse Group AG reiterated a “hold” rating on shares of RPC in a research note on Thursday, June 2nd. Finally, GMP Securities upgraded shares of RPC from a “reduce” rating to a “hold” rating in a research note on Thursday, July 28th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $14.33.
The firm’s market capitalization is $3.36 billion. The firm has a 50 day moving average of $15.22 and a 200-day moving average of $14.73.
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RPC (NYSE:RES) last released its quarterly earnings results on Wednesday, July 27th. The company reported ($0.23) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.23). RPC had a negative net margin of 17.29% and a negative return on equity of 16.53%. The business had revenue of $143 million for the quarter, compared to the consensus estimate of $149.41 million. During the same period last year, the firm earned ($0.16) earnings per share. The company’s quarterly revenue was down 51.9% on a year-over-year basis. On average, analysts anticipate that RPC Inc. will post ($0.77) EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RES. Pacer Advisors Inc. purchased a new stake in shares of RPC during the second quarter worth about $107,000. Glenmede Trust Co. NA boosted its stake in shares of RPC by 1.2% in the second quarter. Glenmede Trust Co. NA now owns 9,106 shares of the company’s stock worth $141,000 after buying an additional 106 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of RPC by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 9,093 shares of the company’s stock worth $141,000 after buying an additional 1,103 shares during the period. Raymond James & Associates purchased a new stake in shares of RPC during the second quarter worth about $155,000. Finally, Virginia Retirement Systems ET AL purchased a new stake in shares of RPC during the second quarter worth about $163,000. Institutional investors and hedge funds own 34.90% of the company’s stock.
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.
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