Arizona State Retirement System decreased its position in shares of RPC, Inc. (NYSE:RES) by 43.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 34,329 shares of the oil and gas company’s stock after selling 26,155 shares during the period. Arizona State Retirement System’s holdings in RPC were worth $180,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in RES. Marshall Wace North America L.P. bought a new position in RPC during the first quarter valued at approximately $25,000. CIBC Asset Management Inc acquired a new stake in RPC in the third quarter valued at approximately $64,000. Municipal Employees Retirement System of Michigan acquired a new stake in RPC in the third quarter valued at approximately $87,000. SG Americas Securities LLC bought a new stake in RPC in the third quarter worth approximately $88,000. Finally, Mason Street Advisors LLC bought a new stake in RPC in the third quarter worth approximately $98,000. 37.16% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have recently commented on RES. Scotiabank lowered shares of RPC from a “sector perform” rating to an “underperform” rating in a research note on Monday, January 6th. TheStreet lowered shares of RPC from a “c” rating to a “d” rating in a research note on Wednesday, October 23rd. Citigroup cut shares of RPC from a “neutral” rating to a “sell” rating and set a $3.10 price objective for the company. in a report on Wednesday, November 20th. Goldman Sachs Group set a $4.10 target price on shares of RPC and gave the stock a “sell” rating in a research report on Friday, October 25th. Finally, Credit Suisse Group restated a “sell” rating and set a $3.50 target price on shares of RPC in a report on Sunday, February 2nd. Eight equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $6.30.
Shares of RES stock opened at $4.16 on Friday. RPC, Inc. has a 12 month low of $3.30 and a 12 month high of $13.11. The company has a market cap of $892.32 million, a PE ratio of -10.15 and a beta of 1.24. The company has a quick ratio of 3.31, a current ratio of 4.31 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average is $4.62 and its two-hundred day moving average is $4.88.
RPC (NYSE:RES) last issued its quarterly earnings data on Wednesday, January 29th. The oil and gas company reported ($0.07) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.04. The business had revenue of $236.00 million during the quarter, compared to analysts’ expectations of $237.54 million. RPC had a negative net margin of 7.13% and a negative return on equity of 3.00%. RPC’s revenue for the quarter was down 37.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.06 earnings per share. As a group, equities analysts expect that RPC, Inc. will post -0.11 EPS for the current fiscal year.
RPC Company Profile
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.
Further Reading: FinTech
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