Citigroup Inc. Boosts RPC Inc. (RES) Price Target to $19.00
RPC Inc. (NYSE:RES) had its target price raised by equities researchers at Citigroup Inc. from $16.00 to $19.00 in a research note issued to investors on Tuesday. The brokerage presently has a “neutral” rating on the stock. Citigroup Inc.’s price objective suggests a potential upside of 4.57% from the company’s current price.
Other equities analysts also recently issued research reports about the company. Nomura reaffirmed a “hold” rating and issued a $14.00 price objective on shares of RPC in a research report on Thursday, September 22nd. GMP Securities raised RPC from a “reduce” rating to a “hold” rating in a research report on Thursday, July 28th. Finally, Seaport Global Securities raised RPC from a “reduce” rating to a “neutral” rating and upped their price objective for the company from $14.00 to $17.00 in a research report on Tuesday, October 4th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $14.87.
Shares of RPC (NYSE:RES) traded down 0.83% during trading on Tuesday, reaching $18.02. The company’s stock had a trading volume of 984,632 shares. The company has a 50-day moving average price of $15.79 and a 200-day moving average price of $15.01. The stock’s market cap is $3.92 billion. RPC has a one year low of $9.73 and a one year high of $18.50.
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RPC (NYSE:RES) last released its earnings results on Wednesday, July 27th. The company reported ($0.23) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.23). The firm had revenue of $143 million for the quarter, compared to the consensus estimate of $149.41 million. RPC had a negative return on equity of 16.53% and a negative net margin of 17.29%. The company’s revenue for the quarter was down 51.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.16) EPS. On average, equities research analysts forecast that RPC will post ($0.77) earnings per share for the current fiscal year.
Large investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. boosted its stake in RPC by 68.0% in the first quarter. Goldman Sachs Group Inc. now owns 156,272 shares of the company’s stock worth $2,216,000 after buying an additional 63,275 shares during the period. TIAA CREF Investment Management LLC boosted its stake 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 worth $37,113,000 after buying an additional 1,314,979 shares during the period. Granahan Investment Management Inc. MA boosted its stake in RPC by 2.4% in the first quarter. Granahan Investment Management Inc. MA now owns 319,750 shares of the company’s stock worth $4,534,000 after buying an additional 7,500 shares during the period. Riverhead Capital Management LLC acquired a new stake in RPC during the first quarter worth approximately $643,000. Finally, Loomis Sayles & Co. L P boosted its stake in RPC by 118.4% in the first quarter. Loomis Sayles & Co. L P now owns 1,106,000 shares of the company’s stock worth $15,683,000 after buying an additional 599,612 shares during the period. Institutional investors own 34.92% 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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