RPC Inc. (RES) Stock Rating Reaffirmed by Nomura
RPC Inc. (NYSE:RES)‘s stock had its “hold” rating restated by analysts at Nomura in a report released on Thursday. They presently have a $14.00 target price on the stock. Nomura’s price target indicates a potential downside of 9.33% from the stock’s current price.
RES has been the topic of a number of other reports. FBR & Co raised 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 reissued a “hold” rating on shares of RPC in a research note on Thursday, June 2nd. Citigroup Inc. lifted their price objective on shares of RPC from $15.00 to $17.00 and gave the company a “neutral” rating in a research note on Wednesday, July 13th. Finally, GMP Securities raised 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 given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $14.33.
RPC (NYSE:RES) traded up 1.004% on Thursday, hitting $15.595. The stock had a trading volume of 276,074 shares. The company’s 50 day moving average is $15.27 and its 200-day moving average is $14.74. RPC has a 1-year low of $8.45 and a 1-year high of $16.84. The firm’s market capitalization is $3.39 billion.
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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, meeting analysts’ consensus estimates of ($0.23). RPC had a negative net margin of 17.29% and a negative return on equity of 16.53%. The company earned $143 million during the quarter, compared to the consensus estimate of $149.41 million. During the same period in the previous year, the business earned ($0.16) earnings per share. The firm’s quarterly revenue was down 51.9% on a year-over-year basis. On average, analysts forecast that RPC will post ($0.77) EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. purchased a new position in RPC during the second quarter valued at about $107,000. Teacher Retirement System of Texas raised its position in RPC by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 9,093 shares of the company’s stock valued at $141,000 after buying an additional 1,103 shares during the last quarter. Glenmede Trust Co. NA raised its position in RPC by 1.2% in the second quarter. Glenmede Trust Co. NA now owns 9,106 shares of the company’s stock valued at $141,000 after buying an additional 106 shares during the last quarter. Raymond James & Associates purchased a new position in RPC during the second quarter valued at about $155,000. Finally, Virginia Retirement Systems ET AL purchased a new position in RPC during the second quarter valued at about $163,000. Institutional investors and hedge funds own 34.90% of the company’s stock.
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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