A number of other equities analysts also recently issued reports on RES. FBR & Co upgraded RPC from a mkt perform rating to an outperform rating and raised their price objective for the stock from $11.00 to $15.00 in a research report on Wednesday, June 1st. Credit Suisse Group AG restated a hold rating on shares of RPC in a research report on Thursday, June 2nd. Nomura set a $14.00 price objective on RPC and gave the stock a hold rating in a research report on Tuesday, August 16th. Citigroup Inc. lowered their price objective on RPC from $17.00 to $15.00 and set a neutral rating for the company in a research report on Friday, July 29th. Finally, GMP Securities upgraded RPC from a reduce rating to a hold rating in a research report on Thursday, July 28th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. RPC currently has a consensus rating of Hold and a consensus target price of $14.67.
RPC (NYSE:RES) traded down 0.560% during trading on Wednesday, hitting $16.865. The stock had a trading volume of 739,012 shares. The company has a 50-day moving average of $15.55 and a 200 day moving average of $14.86. The company’s market cap is $3.67 billion. RPC has a 52 week low of $9.73 and a 52 week high of $17.17.
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 Zacks’ consensus estimate of ($0.23). RPC had a negative return on equity of 16.53% and a negative net margin of 17.29%. The company earned $143 million during the quarter, compared to the consensus estimate of $149.41 million. During the same period last year, the company earned ($0.16) earnings per share. The firm’s revenue was down 51.9% compared to the same quarter last year. On average, equities research analysts anticipate that RPC will post ($0.77) EPS for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Viking Fund Management LLC bought a new position in shares of RPC during the second quarter valued at about $13,977,000. Acadian Asset Management LLC boosted its position in shares of RPC by 6,097.8% in the second quarter. Acadian Asset Management LLC now owns 30,555 shares of the company’s stock valued at $475,000 after buying an additional 30,062 shares during the last quarter. Independent Portfolio Consultants Inc. boosted its position in shares of RPC by 9.0% in the second quarter. Independent Portfolio Consultants Inc. now owns 12,220 shares of the company’s stock valued at $190,000 after buying an additional 1,005 shares during the last quarter. Springbok Capital Management LLC bought a new position in shares of RPC during the first quarter valued at about $1,361,000. Finally, Anchor Bolt Capital LP bought a new position in shares of RPC during the first quarter valued at about $7,303,000. 34.92% of the stock is currently owned by 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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