Citigroup Inc. Raises RPC, Inc. (RES) Price Target to $25.00
RPC, Inc. (NYSE:RES) had its price target increased by analysts at Citigroup Inc. from $23.00 to $25.00 in a report released on Thursday. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. Citigroup Inc.’s target price points to a potential upside of 3.82% from the stock’s previous close.
RES has been the topic of a number of other reports. Barclays PLC started coverage on shares of RPC in a report on Tuesday, September 5th. They issued an “equal weight” rating and a $19.00 price target on the stock. Jefferies Group LLC set a $26.00 price objective on shares of RPC and gave the stock a “buy” rating in a research note on Monday, August 28th. Morgan Stanley dropped their price objective on shares of RPC from $24.00 to $23.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 21st. Cowen and Company reissued a “hold” rating and issued a $24.00 price objective on shares of RPC in a research note on Friday, September 1st. Finally, Zacks Investment Research cut shares of RPC from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. Twelve investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $23.26.
Shares of RPC (RES) traded down 0.29% on Thursday, reaching $24.01. 565,430 shares of the company traded hands. The firm’s market capitalization is $5.22 billion. RPC has a 1-year low of $16.48 and a 1-year high of $25.00. The stock has a 50-day moving average price of $21.33 and a 200 day moving average price of $19.84.
RPC (NYSE:RES) last announced its quarterly earnings results on Wednesday, July 26th. The oil and gas company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. The company had revenue of $399.00 million for the quarter, compared to the consensus estimate of $415.65 million. RPC had a negative net margin of 1.15% and a negative return on equity of 1.74%. RPC’s revenue for the quarter was up 179.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.23) EPS. Analysts anticipate that RPC will post $0.83 EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in RES. The Manufacturers Life Insurance Company boosted its position in RPC by 7.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,514 shares of the oil and gas company’s stock valued at $132,000 after buying an additional 459 shares during the period. Pacer Advisors Inc. boosted its position in RPC by 22.0% in the 1st 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 during the period. BNP Paribas Arbitrage SA boosted its position in RPC by 40.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 10,503 shares of the oil and gas company’s stock valued at $192,000 after buying an additional 3,048 shares during the period. Bbva Compass Bancshares Inc. purchased a new stake in RPC in the 2nd quarter valued at about $219,000. Finally, Amalgamated Bank purchased a new stake in RPC in the 2nd quarter valued at about $223,000. 38.17% of the stock is owned by 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 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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