RPC (NYSE:RES) Downgraded by Wall Street Zen to “Hold”

RPC (NYSE:RES) was downgraded by equities research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday.

Several other analysts also recently weighed in on RES. Susquehanna boosted their price objective on shares of RPC from $5.50 to $6.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 7th. Citigroup boosted their target price on RPC from $5.75 to $6.00 and gave the company a “neutral” rating in a report on Thursday, December 11th. Weiss Ratings restated a “hold (c-)” rating on shares of RPC in a research note on Monday, December 29th. Finally, Piper Sandler reaffirmed an “underweight” rating on shares of RPC in a research report on Thursday, December 18th. Four analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $5.25.

RPC Trading Up 6.8%

NYSE:RES opened at $5.79 on Friday. RPC has a 1 year low of $4.10 and a 1 year high of $6.85. The stock has a market cap of $1.28 billion, a P/E ratio of 38.60 and a beta of 0.72. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.31 and a current ratio of 3.24. The stock has a 50-day simple moving average of $5.85 and a 200-day simple moving average of $5.17.

RPC (NYSE:RES) last issued its earnings results on Tuesday, February 3rd. The oil and gas company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). The business had revenue of $425.78 million for the quarter, compared to analyst estimates of $423.30 million. RPC had a return on equity of 5.24% and a net margin of 1.97%.RPC’s revenue was up 26.9% on a year-over-year basis. During the same period last year, the business posted $0.06 EPS. As a group, analysts anticipate that RPC will post 0.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RPC

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Hussman Strategic Advisors Inc. purchased a new position in RPC during the 4th quarter worth $571,000. CWM LLC boosted its holdings in shares of RPC by 88.2% in the fourth quarter. CWM LLC now owns 9,316 shares of the oil and gas company’s stock valued at $51,000 after acquiring an additional 4,365 shares in the last quarter. Unison Advisors LLC acquired a new position in shares of RPC during the fourth quarter worth about $687,000. Range Financial Group LLC purchased a new position in RPC during the fourth quarter worth about $59,000. Finally, Wedge Capital Management L L P NC lifted its position in RPC by 7.2% in the fourth quarter. Wedge Capital Management L L P NC now owns 185,693 shares of the oil and gas company’s stock valued at $1,010,000 after purchasing an additional 12,396 shares during the period. 41.06% of the stock is currently owned by hedge funds and other institutional investors.

About RPC

RPC, Inc (NYSE: RES) provides essential equipment and services to companies engaged in the exploration, production and maintenance of oil and natural gas wells. The firm operates as an equity interest holding company, partnering with a network of independent service businesses to deliver a comprehensive suite of offerings for well completion and production operations.

Through its affiliated service companies, RPC offers pressure pumping and fracturing services, coiled tubing and nitrogen pumping, downhole tools and telemetry solutions, well intervention and workover services, along with rental tools and supply-chain logistics.