RPC (NYSE:RES) had its price objective cut by investment analysts at Wells Fargo & Co from $5.50 to $4.50 in a report issued on Thursday, BenzingaRatingsTable reports. The brokerage currently has an “underperform” rating on the oil and gas company’s stock. Wells Fargo & Co‘s price target suggests a potential downside of 23.60% from the company’s current price.
RES has been the subject of a number of other research reports. Citigroup set a $6.00 target price on shares of RPC and gave the stock a “sell” rating in a research note on Tuesday, July 2nd. ValuEngine raised shares of RPC from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 1st. Barclays reaffirmed a “sell” rating and issued a $5.50 price target on shares of RPC in a research note on Sunday, July 28th. Morgan Stanley decreased their price target on shares of RPC from $15.00 to $10.00 and set an “overweight” rating for the company in a research note on Friday, July 12th. Finally, AltaCorp Capital reaffirmed an “underperform” rating on shares of RPC in a research note on Thursday, June 20th. Nine equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $10.42.
Shares of NYSE RES opened at $5.89 on Thursday. RPC has a twelve month low of $4.88 and a twelve month high of $17.24. The firm has a fifty day simple moving average of $5.67 and a 200 day simple moving average of $8.36. The company has a market capitalization of $1.21 billion, a PE ratio of 7.18, a P/E/G ratio of 72.68 and a beta of 1.08. The company has a quick ratio of 2.45, a current ratio of 3.13 and a debt-to-equity ratio of 0.03.
RPC (NYSE:RES) last announced its earnings results on Wednesday, July 24th. The oil and gas company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). RPC had a return on equity of 6.37% and a net margin of 4.55%. The firm had revenue of $358.50 million for the quarter, compared to the consensus estimate of $362.40 million. During the same period in the prior year, the business earned $0.28 EPS. RPC’s quarterly revenue was down 23.4% on a year-over-year basis. As a group, equities analysts expect that RPC will post 0.01 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of RES. Beacon Capital Management acquired a new position in shares of RPC during the fourth quarter valued at about $0. Glenmede Trust Co. NA grew its holdings in shares of RPC by 1.2% during the second quarter. Glenmede Trust Co. NA now owns 9,106 shares of the oil and gas company’s stock valued at $141,000 after buying an additional 106 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in shares of RPC by 13.8% during the second quarter. Teacher Retirement System of Texas now owns 9,093 shares of the oil and gas company’s stock valued at $141,000 after buying an additional 1,103 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of RPC by 12.0% during the second quarter. Pacer Advisors Inc. now owns 11,360 shares of the oil and gas company’s stock valued at $230,000 after buying an additional 1,216 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its holdings in shares of RPC by 27.5% during the third quarter. BNP Paribas Arbitrage SA now owns 6,118 shares of the oil and gas company’s stock valued at $103,000 after buying an additional 1,319 shares during the last quarter. 33.79% of the stock is owned by hedge funds and other institutional investors.
RPC, Inc, through its subsidiaries, provides a range of oilfield services and equipment for the oil and gas companies involved in the exploration, production, and development of oil and gas properties. The company operates through Technical Services and Support Services segments. The Technical Services offers pressure pumping, fracturing, acidizing, downhole tools, coiled tubing, snubbing, nitrogen, well control, wireline, pump down, and fishing services that are used in the completion, production, and maintenance of oil and gas wells.
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