Cowen and Company Analysts Give RPC, Inc. (RES) a $24.00 Price Target
RPC, Inc. (NYSE:RES) has been assigned a $24.00 price objective by research analysts at Cowen and Company in a report released on Friday. The brokerage presently has a “hold” rating on the oil and gas company’s stock. Cowen and Company’s price objective indicates a potential upside of 3.94% from the stock’s current price.
A number of other research analysts have also issued reports on the stock. Jefferies Group LLC reiterated a “buy” rating and issued a $26.00 price objective on shares of RPC in a report on Friday, June 9th. 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 report on Wednesday, June 21st. 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 objective for the company. Zacks Investment Research lowered shares of RPC from a “buy” rating to a “hold” rating in a report on Tuesday, July 18th. Finally, Seaport Global Securities lowered shares of RPC from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $25.00 to $20.00 in a report on Wednesday, June 21st. Twelve research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $23.26.
Shares of RPC (NYSE:RES) traded down 3.71% during midday trading on Friday, hitting $23.09. 1,635,525 shares of the stock traded hands. The company’s market capitalization is $5.02 billion. RPC has a 52 week low of $16.48 and a 52 week high of $25.00. The firm’s 50-day moving average is $21.49 and its 200 day moving average is $19.87.
RPC (NYSE:RES) last issued its quarterly earnings data 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 business had revenue of $399.00 million during the quarter, compared to analyst estimates of $415.65 million. RPC had a negative net margin of 1.15% and a negative return on equity of 1.74%. The firm’s quarterly revenue was up 179.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.23) EPS. Equities analysts forecast that RPC will post $0.83 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its position in shares of RPC by 7.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,514 shares of the oil and gas company’s stock worth $132,000 after buying an additional 459 shares during the period. Pacer Advisors Inc. grew its position in shares of RPC by 22.0% during the 1st quarter. Pacer Advisors Inc. now owns 10,144 shares of the oil and gas company’s stock worth $186,000 after buying an additional 1,830 shares during the period. BNP Paribas Arbitrage SA grew its position in shares of RPC by 40.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 10,503 shares of the oil and gas company’s stock worth $192,000 after buying an additional 3,048 shares during the period. Bbva Compass Bancshares Inc. acquired a new stake in shares of RPC during the 2nd quarter worth approximately $219,000. Finally, Amalgamated Bank acquired a new stake in shares of RPC during the 2nd quarter worth approximately $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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