RPC (NYSE:RES) was downgraded by stock analysts at B. Riley from a “buy” rating to a “neutral” rating in a research report issued on Friday.
RES has been the subject of several other research reports. Citigroup downgraded RPC from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, October 26th. They noted that the move was a valuation call. Credit Suisse Group cut RPC from an “outperform” rating to a “neutral” rating in a report on Friday, October 13th. They noted that the move was a valuation call. Barclays started coverage on RPC in a report on Tuesday, September 5th. They set an “equal weight” rating and a $19.00 price objective on the stock. Morgan Stanley cut RPC from an “equal weight” rating to an “underweight” rating and set a $25.00 price objective on the stock. in a report on Tuesday, November 14th. They noted that the move was a valuation call. Finally, Jefferies Group set a $26.00 price objective on RPC and gave the stock a “buy” rating in a report on Monday, August 28th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $24.66.
RPC (NYSE:RES) opened at $26.73 on Friday. RPC has a one year low of $16.63 and a one year high of $27.07. The firm has a market capitalization of $5,652.89, a P/E ratio of 66.92, a P/E/G ratio of 1.78 and a beta of 1.14.
In other news, Director Amy Rollins Kreisler acquired 5,000 shares of the stock in a transaction that occurred on Friday, October 27th. The stock was purchased at an average cost of $23.21 per share, with a total value of $116,050.00. Following the completion of the acquisition, the director now directly owns 5,000 shares in the company, valued at $116,050. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 73.50% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in RES. California Public Employees Retirement System grew its holdings in shares of RPC by 1.1% during the third quarter. California Public Employees Retirement System now owns 243,549 shares of the oil and gas company’s stock valued at $6,038,000 after purchasing an additional 2,549 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of RPC during the third quarter valued at approximately $290,000. Zions Bancorporation bought a new position in shares of RPC during the third quarter valued at approximately $137,000. Jane Street Group LLC acquired a new position in shares of RPC during the third quarter worth approximately $308,000. Finally, Alyeska Investment Group L.P. acquired a new position in shares of RPC during the third quarter worth approximately $47,921,000. 38.07% of the stock is owned by hedge funds and other 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.
