RES has been the subject of a number of other reports. Seaport Global Securities reissued a reduce rating on shares of RPC in a research note on Wednesday, September 28th. GMP Securities raised shares of RPC from a reduce rating to a hold rating in a research note on Thursday, July 28th. Finally, Nomura set a $14.00 price target on shares of RPC and gave the stock a hold rating in a research note on Tuesday, August 16th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $14.87.
RPC (NYSE:RES) opened at 18.44 on Tuesday. RPC has a 52-week low of $9.73 and a 52-week high of $18.88. The stock’s 50 day moving average price is $16.08 and its 200 day moving average price is $15.11. The stock’s market capitalization is $4.01 billion.
RPC (NYSE:RES) last posted its quarterly earnings results on Wednesday, July 27th. The company reported ($0.23) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.23). The business earned $143 million during the quarter, compared to the consensus estimate of $149.41 million. RPC had a negative net margin of 17.29% and a negative return on equity of 16.53%. RPC’s revenue for the quarter was down 51.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.16) earnings per share. On average, analysts forecast that RPC will post ($0.77) EPS for the current year.
A number of hedge funds have recently bought and sold shares of RES. Viking Fund Management LLC raised its stake in RPC by 42.2% in the third quarter. Viking Fund Management LLC now owns 1,280,000 shares of the company’s stock valued at $21,504,000 after buying an additional 380,000 shares during the period. Eagle Boston Investment Management Inc. purchased a new stake in RPC during the third quarter valued at about $4,370,000. Creative Planning raised its stake in RPC by 894.2% in the third quarter. Creative Planning now owns 27,121 shares of the company’s stock valued at $456,000 after buying an additional 24,393 shares during the period. First Mercantile Trust Co. purchased a new stake in RPC during the third quarter valued at about $366,000. Finally, Independent Portfolio Consultants Inc. raised its stake in RPC by 4.9% in the third quarter. Independent Portfolio Consultants Inc. now owns 12,820 shares of the company’s stock valued at $215,000 after buying an additional 600 shares during the period. 34.94% of the stock is currently 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 to oil and gas companies engaged in the exploration, production and development of oil and gas properties across 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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