Jefferies Group LLC Reiterates “$26.00” Price Target for RPC, Inc. (RES)
RPC, Inc. (NYSE:RES) has been assigned a $26.00 price objective by investment analysts at Jefferies Group LLC in a report issued on Monday. The brokerage currently has a “buy” rating on the oil and gas company’s stock. Jefferies Group LLC’s price target points to a potential upside of 37.35% from the stock’s previous close.
A number of other equities analysts have also weighed in on the company. Morgan Stanley decreased their price target on RPC from $24.00 to $23.00 and set an “equal weight” rating for the company in a research report on Wednesday, June 21st. Cowen and Company increased their price objective on RPC from $20.00 to $24.00 and gave the stock a “market perform” rating in a research note on Thursday, July 27th. Seaport Global Securities downgraded RPC from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $25.00 to $20.00 in a research note on Wednesday, June 21st. Zacks Investment Research downgraded RPC from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. Finally, Piper Jaffray Companies reissued a “neutral” rating and issued a $20.50 price objective (up from $18.75) on shares of RPC in a research note on Wednesday, July 12th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $22.91.
RPC (NYSE RES) traded down 0.660% during trading on Monday, hitting $18.805. 45,405 shares of the company traded hands. The firm’s market cap is $4.09 billion. RPC has a 52-week low of $14.18 and a 52-week high of $23.36. The company’s 50-day moving average is $20.10 and its 200 day moving average is $19.43.
RPC (NYSE:RES) last released its quarterly earnings results on Wednesday, July 26th. The oil and gas company reported $0.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.06. RPC had a negative return on equity of 1.74% and a negative net margin of 1.15%. The business had revenue of $399 million during the quarter, compared to analyst estimates of $415.65 million. During the same quarter last year, the company posted ($0.23) EPS. RPC’s revenue for the quarter was up 179.0% on a year-over-year basis. On average, equities analysts anticipate that RPC will post $0.81 earnings per share for the current year.
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Several large investors have recently bought and sold shares of the company. Advisory Services Network LLC increased its stake in RPC by 15.9% in the second quarter. Advisory Services Network LLC now owns 13,028 shares of the oil and gas company’s stock worth $263,000 after buying an additional 1,790 shares during the period. Sterling Capital Management LLC increased its stake in RPC by 57.0% in the second quarter. Sterling Capital Management LLC now owns 162,749 shares of the oil and gas company’s stock worth $3,289,000 after buying an additional 59,109 shares during the period. Susquehanna International Group LLP increased its stake in RPC by 168.9% in the second quarter. Susquehanna International Group LLP now owns 15,100 shares of the oil and gas company’s stock worth $305,000 after buying an additional 37,000 shares during the period. 361 Capital LLC purchased a new stake in RPC during the second quarter worth $4,043,000. Finally, The Manufacturers Life Insurance Company increased its stake in RPC by 7.6% in the second quarter. The Manufacturers Life Insurance Company now owns 6,514 shares of the oil and gas company’s stock worth $132,000 after buying an additional 459 shares during the period. 38.18% of the stock is 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 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.
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