RPC (NYSE:RES) had its target price decreased by Wells Fargo & Co from $5.50 to $4.50 in a report released on Thursday morning, BenzingaRatingsTable reports. Wells Fargo & Co currently has an underperform rating on the oil and gas company’s stock.
RES has been the topic of a number of other reports. Morgan Stanley reduced their price target on shares of RPC from $15.00 to $10.00 and set an overweight rating on the stock in a research report on Friday, July 12th. Gabelli cut shares of RPC from a buy rating to a hold rating in a research report on Thursday, July 25th. Barclays reissued a sell rating and set a $5.50 price target on shares of RPC in a research report on Sunday, July 28th. ValuEngine raised shares of RPC from a strong sell rating to a sell rating in a research report on Thursday, August 1st. Finally, AltaCorp Capital reissued an underperform rating on shares of RPC in a research report on Thursday, June 20th. Nine analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $10.42.
Shares of RES stock opened at $5.66 on Thursday. RPC has a 52-week low of $4.88 and a 52-week high of $17.24. The stock has a market cap of $1.20 billion, a PE ratio of 6.90, a PEG ratio of 282.09 and a beta of 1.08. 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 firm’s 50 day moving average price is $5.66 and its two-hundred day moving average price is $8.34.
RPC (NYSE:RES) last announced its quarterly earnings data 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). RPC had a net margin of 4.55% and a return on equity of 6.37%. The business had revenue of $358.50 million during the quarter, compared to the consensus estimate of $362.40 million. During the same period in the previous year, the business posted $0.28 earnings per share. RPC’s revenue was down 23.4% compared to the same quarter last year.
A number of hedge funds have recently modified their holdings of RES. BlackRock Inc. increased its stake in RPC by 47.8% in the 2nd quarter. BlackRock Inc. now owns 4,022,457 shares of the oil and gas company’s stock valued at $29,002,000 after buying an additional 1,301,583 shares during the last quarter. AQR Capital Management LLC increased 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 last quarter. Canada Pension Plan Investment Board increased its stake in shares of RPC by 1,766.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,210,368 shares of the oil and gas company’s stock worth $8,727,000 after purchasing an additional 1,145,532 shares during the last quarter. Van ECK Associates Corp increased 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 last quarter. Finally, Victory Capital Management Inc. increased 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 last quarter. Hedge funds and other institutional investors own 33.78% of the company’s stock.
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.
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