Shares of RPC, Inc. (NYSE:RES) rose 8.2% during trading on Monday . The stock traded as high as $5.09 and last traded at $4.99, approximately 5,750,038 shares traded hands during trading. An increase of 161% from the average daily volume of 2,202,314 shares. The stock had previously closed at $4.61.
RES has been the topic of several recent analyst reports. Citigroup upgraded shares of RPC from a “sell” rating to a “neutral” rating and raised their price objective for the company from $4.80 to $4.90 in a research report on Monday. They noted that the move was a valuation call. Morgan Stanley decreased their price objective on shares of RPC from $8.00 to $7.00 and set an “overweight” rating on the stock in a research report on Monday, October 7th. Barclays decreased their price objective on shares of RPC from $5.50 to $5.00 and set an “underweight” rating on the stock in a research report on Monday, September 30th. Gabelli downgraded shares of RPC from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Finally, ValuEngine upgraded shares of RPC from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Seven investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. RPC presently has an average rating of “Hold” and an average target price of $10.07.
The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.45 and a current ratio of 3.13. The company has a market capitalization of $976.33 million, a P/E ratio of 6.09 and a beta of 1.09. The business’s fifty day simple moving average is $5.30 and its 200-day simple moving average is $7.35.
RPC (NYSE:RES) last announced its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The company had revenue of $358.50 million during the quarter, compared to the consensus estimate of $362.40 million. RPC had a net margin of 4.55% and a return on equity of 6.37%. The business’s revenue was down 23.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.28 earnings per share. As a group, analysts forecast that RPC, Inc. will post -0.02 EPS for the current year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of RPC by 7.3% during the 2nd quarter. Vanguard Group Inc. now owns 5,489,888 shares of the oil and gas company’s stock worth $39,582,000 after purchasing an additional 373,555 shares during the period. AQR Capital Management LLC boosted its stake in shares of RPC by 37.6% during the 2nd quarter. AQR Capital Management LLC now owns 4,318,990 shares of the oil and gas company’s stock worth $30,881,000 after purchasing an additional 1,180,636 shares during the period. BlackRock Inc. boosted its stake in shares of RPC by 47.8% during the 2nd quarter. BlackRock Inc. now owns 4,022,457 shares of the oil and gas company’s stock worth $29,002,000 after purchasing an additional 1,301,583 shares during the period. Van ECK Associates Corp boosted its stake in shares of RPC by 53.3% during the 2nd quarter. Van ECK Associates Corp now owns 2,256,464 shares of the oil and gas company’s stock worth $16,269,000 after purchasing an additional 784,479 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of RPC by 60.6% during the 2nd quarter. Victory Capital Management Inc. now owns 1,957,901 shares of the oil and gas company’s stock worth $14,116,000 after purchasing an additional 738,922 shares during the period. Institutional investors own 33.81% of the company’s stock.
About RPC (NYSE:RES)
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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