RPC, Inc. (RES) Stock Rating Lowered by Zacks Investment Research
RPC, Inc. (NYSE:RES) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “RPC, Inc. provides a broad range of specialized oilfield services and equipment primarily to independent and major oilfield companies engaged in the exploration, production and development of oil and gas properties. It operates its business through two business segments- Technical Services and Support Services. Services and products offered by the Company include Cudd Pumping, Coiled Tubing, Snubbing, Nitrogen Units, Thru Tubing Solutions, Wireline, Fluid Pumps, Well Control, Production Rental Tools, Patterson Rental Tools, Patterson Tubular Services and Well Control School. The Company’s products and services can be found throughout the United States, including the Gulf of Mexico, mid-continent, southwest, Appalachian and Rocky Mountain regions, and in selected international markets. RPC, Inc. is headquartered in Atlanta, Georgia. “
A number of other analysts have also recently commented on RES. Piper Jaffray Companies reissued a “neutral” rating and issued a $20.50 price target (up from $18.75) on shares of RPC in a research report on Wednesday, July 12th. Morgan Stanley dropped their price target on RPC from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 21st. Seaport Global Securities cut RPC from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $25.00 to $20.00 in a research report on Wednesday, June 21st. Jefferies Group LLC set a $26.00 price target on RPC and gave the stock a “buy” rating in a research report on Saturday, June 17th. Finally, Wolfe Research cut RPC from an “outperform” rating to a “market perform” rating and set a $20.00 price target on the stock. in a research report on Monday, April 17th. Eleven equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. RPC has an average rating of “Hold” and an average target price of $22.68.
RPC (NYSE:RES) opened at 21.17 on Tuesday. The company’s market cap is $4.61 billion. The firm has a 50-day moving average price of $19.53 and a 200 day moving average price of $19.67. RPC has a one year low of $13.49 and a one year high of $23.36.
RPC (NYSE:RES) last posted its quarterly earnings data on Wednesday, April 26th. The oil and gas company reported $0.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.04. The business had revenue of $298.12 million for the quarter, compared to analysts’ expectations of $273.35 million. RPC had a negative return on equity of 12.86% and a negative net margin of 12.54%. The business’s revenue was up 57.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.15) EPS. Equities analysts expect that RPC will post $0.63 earnings per share for the current fiscal year.
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Several large investors have recently bought and sold shares of the company. Sei Investments Co. increased its position in shares of RPC by 5.0% in the first quarter. Sei Investments Co. now owns 32,451 shares of the oil and gas company’s stock valued at $594,000 after buying an additional 1,535 shares in the last quarter. Virginia Retirement Systems ET AL increased its position in shares of RPC by 8.3% in the first quarter. Virginia Retirement Systems ET AL now owns 20,471 shares of the oil and gas company’s stock valued at $375,000 after buying an additional 1,571 shares in the last quarter. AlphaOne Investment Services LLC increased its position in shares of RPC by 0.9% in the first quarter. AlphaOne Investment Services LLC now owns 189,247 shares of the oil and gas company’s stock valued at $3,465,000 after buying an additional 1,726 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of RPC by 22.0% in the first quarter. Pacer Advisors Inc. now owns 10,144 shares of the oil and gas company’s stock valued at $186,000 after buying an additional 1,830 shares in the last quarter. Finally, Swiss National Bank increased its position in shares of RPC by 2.5% in the first quarter. Swiss National Bank now owns 107,400 shares of the oil and gas company’s stock valued at $1,966,000 after buying an additional 2,600 shares in the last quarter. Hedge funds and other institutional investors own 40.20% 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 primarily to independent oil and gas companies engaged in the exploration, production and development of oil and gas properties throughout 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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