RPC Inc. (NYSE:RES) was upgraded by equities research analysts at Seaport Global Securities from a “reduce” rating to a “neutral” rating in a report issued on Tuesday. The brokerage currently has a $17.00 price objective on the stock, up from their prior price objective of $14.00. Seaport Global Securities’ target price suggests a potential upside of 0.24% from the stock’s current price.
Several other research analysts also recently issued reports on RES. Citigroup Inc. raised their price objective on shares of RPC from $15.00 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 13th. GMP Securities raised shares of RPC from a “reduce” rating to a “hold” rating in a research report on Thursday, July 28th. Finally, Nomura set a $14.00 price objective on shares of RPC and gave the stock a “hold” rating in a research report on Tuesday, August 16th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. RPC has an average rating of “Hold” and an average target price of $14.67.
RPC (NYSE:RES) opened at 16.96 on Tuesday. The firm’s market cap is $3.69 billion. RPC has a 12 month low of $9.73 and a 12 month high of $17.09. The firm has a 50 day moving average of $15.55 and a 200-day moving average of $14.86.
RPC (NYSE:RES) last issued its quarterly earnings data on Wednesday, July 27th. The company reported ($0.23) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.23). RPC had a negative net margin of 17.29% and a negative return on equity of 16.53%. The company had revenue of $143 million for the quarter, compared to the consensus estimate of $149.41 million. During the same period last year, the firm posted ($0.16) EPS. RPC’s revenue for the quarter was down 51.9% on a year-over-year basis. On average, equities research analysts forecast that RPC will post ($0.77) earnings per share for the current year.
A number of institutional investors have recently made changes to their positions in RES. Pacer Advisors Inc. acquired a new position in shares of RPC during the second quarter worth about $107,000. Glenmede Trust Co. NA boosted its position in shares of RPC by 1.2% in the second quarter. Glenmede Trust Co. NA now owns 9,106 shares of the company’s stock worth $141,000 after buying an additional 106 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of RPC by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 9,093 shares of the company’s stock worth $141,000 after buying an additional 1,103 shares during the last quarter. Raymond James & Associates acquired a new position in shares of RPC during the second quarter worth about $155,000. Finally, Virginia Retirement Systems ET AL acquired a new position in shares of RPC during the second quarter worth about $163,000. Institutional investors own 34.92% of the company’s stock.
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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