RPC, Inc. (NYSE:RES) Given Average Recommendation of “Hold” by Brokerages

RPC, Inc. (NYSE:RES – Get Rating) has been assigned a consensus rating of “Hold” from the six research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $11.33.

RES has been the subject of several recent analyst reports. Citigroup upped their target price on RPC to $10.00 and gave the stock a “na” rating in a research note on Tuesday, May 17th. Atb Cap Markets reiterated an “underperform” rating on shares of RPC in a research note on Sunday, April 17th. Zacks Investment Research cut RPC from a “strong-buy” rating to a “hold” rating and set a $11.00 price target for the company. in a research note on Tuesday, March 29th. TheStreet upgraded RPC from a “d+” rating to a “c” rating in a research note on Wednesday, January 26th. Finally, Johnson Rice upgraded RPC from a “hold” rating to an “accumulate” rating and set a $13.00 price target for the company in a research note on Wednesday, April 27th.

In other news, Director Gary W. Rollins sold 500,000 shares of RPC stock in a transaction dated Thursday, March 17th. The stock was sold at an average price of $9.86, for a total value of $4,930,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Rollins Holding Company, Inc. sold 365,000 shares of the business’s stock in a transaction dated Wednesday, March 16th. The shares were sold at an average price of $9.66, for a total value of $3,525,900.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,649,785 shares of company stock worth $16,397,775 over the last ninety days. Company insiders own 65.90% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Marshall Wace North America L.P. bought a new stake in RPC during the 1st quarter worth approximately $25,000. Royal Bank of Canada boosted its stake in shares of RPC by 594.9% in the 2nd quarter. Royal Bank of Canada now owns 5,754 shares of the oil and gas company’s stock worth $28,000 after buying an additional 4,926 shares during the last quarter. Lindbrook Capital LLC boosted its stake in shares of RPC by 48.5% in the 1st quarter. Lindbrook Capital LLC now owns 2,788 shares of the oil and gas company’s stock worth $30,000 after buying an additional 911 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in RPC by 45.9% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 8,463 shares of the oil and gas company’s stock valued at $41,000 after purchasing an additional 2,663 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in RPC by 170.6% in the first quarter. Nisa Investment Advisors LLC now owns 4,600 shares of the oil and gas company’s stock valued at $49,000 after purchasing an additional 2,900 shares during the last quarter. 27.15% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:RES opened at $8.62 on Friday. The company has a market capitalization of $1.87 billion, a P/E ratio of 57.47 and a beta of 1.51. RPC has a 1 year low of $3.33 and a 1 year high of $12.91. The business’s 50 day simple moving average is $10.48 and its 200 day simple moving average is $7.63.

RPC (NYSE:RES – Get Rating) last released its earnings results on Wednesday, April 27th. The oil and gas company reported $0.07 earnings per share for the quarter, hitting the consensus estimate of $0.07. RPC had a return on equity of 5.00% and a net margin of 3.31%. The firm had revenue of $284.60 million during the quarter, compared to analysts’ expectations of $286.68 million. During the same period in the prior year, the company earned ($0.05) earnings per share. The company’s quarterly revenue was up 55.9% on a year-over-year basis. Sell-side analysts predict that RPC will post 0.44 EPS for the current fiscal year.

RPC Company Profile (Get Rating)

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 segment offers pressure pumping, fracturing, acidizing, cementing, 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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