RPC Inc. (RES) Given Hold Rating at Nomura
RPC Inc. (NYSE:RES)‘s stock had its “hold” rating reaffirmed by equities researchers at Nomura in a report issued on Thursday. They presently have a $14.00 price objective on the stock. Nomura’s target price suggests a potential downside of 9.33% from the company’s current price.
Other research analysts have also issued research reports about the company. Citigroup Inc. raised their target price on RPC from $15.00 to $17.00 and gave the company a “neutral” rating in a report on Wednesday, July 13th. Credit Suisse Group AG restated a “hold” rating on shares of RPC in a report on Thursday, June 2nd. FBR & Co upgraded RPC from a “mkt perform” rating to an “outperform” rating and raised their target price for the company from $11.00 to $15.00 in a report on Wednesday, June 1st. Finally, GMP Securities upgraded RPC from a “reduce” rating to a “hold” rating in a report on Thursday, July 28th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $14.33.
RPC (NYSE:RES) traded up 0.84% during mid-day trading on Thursday, hitting $15.57. The stock had a trading volume of 531,157 shares. The firm’s 50-day moving average is $15.27 and its 200 day moving average is $14.73. The company’s market cap is $3.39 billion. RPC has a 12 month low of $8.45 and a 12 month high of $16.84.
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RPC (NYSE:RES) last posted its earnings results on Wednesday, July 27th. The company reported ($0.23) earnings per share for the quarter, meeting the Zacks’ consensus estimate of ($0.23). RPC had a negative return on equity of 16.53% and a negative net margin of 17.29%. The company had revenue of $143 million for the quarter, compared to analyst estimates of $149.41 million. During the same quarter last year, the company earned ($0.16) earnings per share. The company’s revenue for the quarter was down 51.9% on a year-over-year basis. Equities analysts anticipate that RPC will post ($0.77) EPS for the current fiscal year.
Institutional investors have recently bought and sold shares of the company. Norges Bank bought a new position in RPC during the fourth quarter worth approximately $13,287,000. Ngam Advisors L.P. bought a new position in RPC during the first quarter valued at approximately $1,086,000. TIAA CREF Investment Management LLC increased its position in RPC by 101.0% in the first quarter. TIAA CREF Investment Management LLC now owns 2,617,252 shares of the company’s stock valued at $37,113,000 after buying an additional 1,314,979 shares in the last quarter. Teachers Advisors Inc. increased its position in RPC by 950.3% in the first quarter. Teachers Advisors Inc. now owns 1,557,746 shares of the company’s stock valued at $22,089,000 after buying an additional 1,409,425 shares in the last quarter. Finally, Riverhead Capital Management LLC bought a new position in RPC during the first quarter valued at approximately $643,000. 34.90% of the stock is owned by hedge funds and other institutional investors.
RPC Company Profile
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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