Equities researchers at Stephens began coverage on shares of RPC (NYSE:RES) in a report released on Tuesday, The Fly reports. The brokerage set an “equal weight” rating on the oil and gas company’s stock.
Several other brokerages also recently weighed in on RES. Zacks Investment Research raised shares of RPC from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research note on Tuesday, October 17th. Cowen set a $24.00 target price on shares of RPC and gave the company a “hold” rating in a research note on Friday, October 6th. Jefferies Group set a $25.00 target price on shares of RPC and gave the company a “hold” rating in a research note on Thursday, October 26th. B. Riley downgraded shares of RPC from a “buy” rating to a “neutral” rating and set a $27.00 price target on the stock. in a research note on Friday, December 22nd. Finally, Raymond James Financial downgraded shares of RPC from a “strong-buy” rating to an “outperform” rating in a research note on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $25.03.
RPC (NYSE:RES) traded up $0.36 during mid-day trading on Tuesday, reaching $26.59. 1,109,400 shares of the company’s stock traded hands, compared to its average volume of 1,324,620. RPC has a fifty-two week low of $16.63 and a fifty-two week high of $27.07. The company has a market capitalization of $5,670.00, a price-to-earnings ratio of 69.97, a P/E/G ratio of 0.90 and a beta of 1.14.
In other news, Director Amy Rollins Kreisler purchased 5,000 shares of the stock in a transaction dated Friday, October 27th. The shares were acquired at an average cost of $23.21 per share, for a total transaction of $116,050.00. Following the acquisition, the director now owns 5,000 shares of the company’s stock, valued at $116,050. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 73.50% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Alyeska Investment Group L.P. purchased a new position in shares of RPC during the 3rd quarter valued at approximately $47,921,000. Victory Capital Management Inc. increased its holdings in shares of RPC by 244.9% during the 3rd quarter. Victory Capital Management Inc. now owns 2,066,941 shares of the oil and gas company’s stock valued at $51,239,000 after purchasing an additional 1,467,661 shares in the last quarter. Van ECK Associates Corp purchased a new position in shares of RPC during the 3rd quarter valued at approximately $36,128,000. Vanguard Group Inc. increased its holdings in shares of RPC by 20.4% during the 2nd quarter. Vanguard Group Inc. now owns 6,076,306 shares of the oil and gas company’s stock valued at $122,802,000 after purchasing an additional 1,028,001 shares in the last quarter. Finally, Cambiar Investors LLC increased its holdings in shares of RPC by 272.4% during the 3rd quarter. Cambiar Investors LLC now owns 720,583 shares of the oil and gas company’s stock valued at $17,863,000 after purchasing an additional 527,079 shares in the last quarter. 38.07% of the stock is owned by institutional investors.
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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.
