RPC Inc. (NYSE:RES)’s share price shot up 0.2% during mid-day trading on Tuesday after Citigroup raised their price target on the stock from $16.00 to $19.00. Citigroup currently has a neutral rating on the stock. RPC traded as high as $18.33 and last traded at $18.20, with a volume of 860,211 shares changing hands. The stock had previously closed at $18.17.
Several other equities analysts have also issued reports on RES. Seaport Global Securities reaffirmed a “reduce” rating on shares of RPC in a research note on Wednesday, September 28th. Nomura set a $14.00 price target on RPC and gave the company a “hold” rating in a research note on Tuesday, August 16th. Finally, GMP Securities raised RPC from a “reduce” rating to a “hold” rating in a research note on Thursday, July 28th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $14.87.
Several hedge funds and other institutional investors have recently bought and sold shares of RES. Teachers Advisors Inc. increased its position in RPC by 950.3% in the first quarter. Teachers Advisors Inc. now owns 1,557,746 shares of the company’s stock worth $22,089,000 after buying an additional 1,409,425 shares during the last quarter. TIAA CREF Investment Management LLC increased its position in RPC by 101.0% in the first quarter. TIAA CREF Investment Management LLC now owns 2,617,252 shares of the company’s stock worth $37,113,000 after buying an additional 1,314,979 shares during the last quarter. First Trust Advisors LP increased its position in RPC by 91.8% in the second quarter. First Trust Advisors LP now owns 2,252,149 shares of the company’s stock worth $34,976,000 after buying an additional 1,077,709 shares during the last quarter. Viking Fund Management LLC purchased a new position in RPC during the second quarter worth about $13,977,000. Finally, Loomis Sayles & Co. L P increased its position in RPC by 118.4% in the first quarter. Loomis Sayles & Co. L P now owns 1,106,000 shares of the company’s stock worth $15,683,000 after buying an additional 599,612 shares during the last quarter. Institutional investors and hedge funds own 34.92% of the company’s stock.
The stock has a 50-day moving average price of $15.92 and a 200-day moving average price of $15.05. The stock’s market capitalization is $3.96 billion.
RPC (NYSE:RES) last issued its quarterly earnings data on Wednesday, July 27th. The company reported ($0.23) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.23). The business had revenue of $143 million for the quarter, compared to analyst estimates of $149.41 million. RPC had a negative return on equity of 16.53% and a negative net margin of 17.29%. RPC’s quarterly revenue was down 51.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.16) EPS. Analysts anticipate that RPC Inc. will post ($0.77) EPS for the current year.
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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