RPC, Inc. (RES) Stock Rating Upgraded by Zacks Investment Research
RPC, Inc. (NYSE:RES) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm presently has a $26.00 price target on the oil and gas company’s stock. Zacks Investment Research‘s target price indicates a potential upside of 13.54% from the company’s current price.
According to Zacks, “RPC, Inc. provides a broad range of specialized oilfield services and equipment primarily to independent and major oilfield companies engaged in the exploration, production and development of oil and gas properties. It operates its business through two business segments- Technical Services and Support Services. Services and products offered by the Company include Cudd Pumping, Coiled Tubing, Snubbing, Nitrogen Units, Thru Tubing Solutions, Wireline, Fluid Pumps, Well Control, Production Rental Tools, Patterson Rental Tools, Patterson Tubular Services and Well Control School. The Company’s products and services can be found throughout the United States, including the Gulf of Mexico, mid-continent, southwest, Appalachian and Rocky Mountain regions, and in selected international markets. RPC, Inc. is headquartered in Atlanta, Georgia. “
RES has been the topic of a number of other research reports. Cowen and Company set a $24.00 target price on RPC and gave the company a “hold” rating in a research report on Friday, October 6th. Seaport Global Securities reiterated a “neutral” rating on shares of RPC in a research report on Wednesday, July 26th. Jefferies Group LLC set a $26.00 target price on RPC and gave the company a “buy” rating in a research report on Monday, August 28th. Piper Jaffray Companies reiterated a “neutral” rating and set a $20.50 target price (up previously from $18.75) on shares of RPC in a research report on Wednesday, July 12th. Finally, Morgan Stanley decreased their target price on RPC from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 21st. Thirteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. RPC currently has an average rating of “Hold” and an average price target of $23.50.
RPC (NYSE:RES) opened at 22.90 on Tuesday. RPC has a 12-month low of $16.48 and a 12-month high of $25.00. The stock’s market cap is $4.98 billion. The company has a 50 day moving average of $22.36 and a 200-day moving average of $20.14.
RPC (NYSE:RES) last announced its earnings results on Wednesday, July 26th. The oil and gas company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $399.00 million for the quarter, compared to analyst estimates of $415.65 million. During the same quarter last year, the firm posted ($0.23) EPS. The business’s revenue was up 179.0% on a year-over-year basis. Equities analysts forecast that RPC will post $0.82 earnings per share for the current year.
TRADEMARK VIOLATION NOTICE: This story was originally published by Watch List News and is owned by of Watch List News. If you are viewing this story on another website, it was illegally copied and republished in violation of United States & international trademark & copyright law. The original version of this story can be viewed at https://www.watchlistnews.com/rpc-inc-res-stock-rating-upgraded-by-zacks-investment-research/1636022.html.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Advisory Services Network LLC raised its holdings in shares of RPC by 15.9% during the 2nd quarter. Advisory Services Network LLC now owns 13,028 shares of the oil and gas company’s stock worth $263,000 after acquiring an additional 1,790 shares during the period. Sterling Capital Management LLC raised its holdings in shares of RPC by 57.0% during the 2nd quarter. Sterling Capital Management LLC now owns 162,749 shares of the oil and gas company’s stock worth $3,289,000 after acquiring an additional 59,109 shares during the period. Susquehanna International Group LLP raised its holdings in shares of RPC by 168.9% during the 2nd quarter. Susquehanna International Group LLP now owns 15,100 shares of the oil and gas company’s stock worth $305,000 after acquiring an additional 37,000 shares during the period. 361 Capital LLC purchased a new position in shares of RPC during the 2nd quarter worth $4,043,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of RPC by 7.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,514 shares of the oil and gas company’s stock worth $132,000 after acquiring an additional 459 shares during the period. Institutional investors and hedge funds own 38.21% 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 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.
Receive News & Ratings for RPC Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RPC Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.