ValuEngine upgraded shares of RPC (NYSE:RES) from a strong sell rating to a sell rating in a report issued on Thursday, ValuEngine reports.
Several other equities research analysts have also commented on the company. Morgan Stanley dropped their price target on RPC from $15.00 to $10.00 and set an overweight rating for the company in a research note on Friday, July 12th. AltaCorp Capital restated an underperform rating on shares of RPC in a research note on Thursday, June 20th. Bank of America restated an underperform rating and set a $9.50 price target (down from $12.00) on shares of RPC in a research note on Thursday, April 25th. Barclays restated a sell rating and set a $5.50 price target on shares of RPC in a research note on Sunday, July 28th. Finally, Gabelli lowered RPC from a buy rating to a hold rating in a research note on Thursday, July 25th. Nine investment analysts have rated the stock with a sell rating, ten have issued a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $11.87.
NYSE:RES traded down $0.19 on Thursday, hitting $5.78. 5,401,182 shares of the stock were exchanged, compared to its average volume of 2,210,906. The stock has a market capitalization of $1.33 billion, a PE ratio of 7.05, a PEG ratio of 35.56 and a beta of 1.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.77 and a current ratio of 3.53. The business has a fifty day moving average of $6.64. RPC has a fifty-two week low of $5.43 and a fifty-two week high of $17.24.
RPC (NYSE:RES) last announced its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.01). The firm had revenue of $358.50 million for the quarter, compared to analyst estimates of $362.40 million. RPC had a return on equity of 6.32% and a net margin of 4.55%. The business’s revenue was down 23.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.28 earnings per share. Research analysts expect that RPC will post 0.03 EPS for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in RES. Norges Bank acquired a new stake in RPC during the fourth quarter valued at approximately $5,736,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in RPC during the first quarter valued at approximately $3,321,000. BTIM Corp. raised its stake in RPC by 40.6% during the first quarter. BTIM Corp. now owns 968,870 shares of the oil and gas company’s stock valued at $11,055,000 after buying an additional 279,970 shares in the last quarter. Deutsche Bank AG raised its stake in RPC by 13.8% during the fourth quarter. Deutsche Bank AG now owns 1,272,381 shares of the oil and gas company’s stock valued at $12,557,000 after buying an additional 154,467 shares in the last quarter. Finally, Dean Investment Associates LLC raised its stake in RPC by 25.2% during the first quarter. Dean Investment Associates LLC now owns 582,640 shares of the oil and gas company’s stock valued at $6,648,000 after buying an additional 117,180 shares in the last quarter. Hedge funds and other institutional investors own 31.94% of the company’s stock.
RPC, Inc, through its subsidiaries, provides a range of oilfield services and equipment for the oil and gas companies involved in the exploration, production, and development of oil and gas properties. The company operates through Technical Services and Support Services segments. The Technical Services offers pressure pumping, fracturing, acidizing, downhole tools, coiled tubing, snubbing, nitrogen, well control, wireline, pump down, and fishing services that are used in the completion, production, and maintenance of oil and gas wells.
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