RPC (NYSE:RES) Stock Rating Upgraded by Wall Street Zen

RPC (NYSE:RES) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Several other analysts have also weighed in on the company. Citigroup increased their price target on RPC from $5.75 to $6.00 and gave the company a “neutral” rating in a report on Thursday, December 11th. Piper Sandler reiterated an “underweight” rating on shares of RPC in a research report on Thursday, December 18th. Susquehanna raised their target price on shares of RPC from $5.50 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday, January 7th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of RPC in a research note on Monday, December 29th. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $5.25.

RPC Stock Down 0.9%

Shares of NYSE:RES opened at $6.14 on Friday. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 26.67 and a beta of 0.63. RPC has a 12 month low of $4.10 and a 12 month high of $7.17. The company has a current ratio of 2.78, a quick ratio of 2.31 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average price of $5.59 and a 200 day moving average price of $5.04.

RPC (NYSE:RES) last issued its quarterly earnings data on Thursday, October 30th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.04. The business had revenue of $447.10 million for the quarter, compared to the consensus estimate of $402.31 million. RPC had a return on equity of 5.58% and a net margin of 3.12%.The company’s quarterly revenue was up 32.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.09 earnings per share. As a group, equities research analysts predict that RPC will post 0.31 earnings per share for the current year.

Institutional Investors Weigh In On RPC

Several large investors have recently added to or reduced their stakes in RES. EverSource Wealth Advisors LLC increased its position in shares of RPC by 220.6% during the second quarter. EverSource Wealth Advisors LLC now owns 6,533 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 4,495 shares during the period. Tower Research Capital LLC TRC grew its stake in RPC by 243.4% in the second quarter. Tower Research Capital LLC TRC now owns 8,681 shares of the oil and gas company’s stock worth $41,000 after purchasing an additional 6,153 shares in the last quarter. Hantz Financial Services Inc. grew its stake in RPC by 940.3% in the third quarter. Hantz Financial Services Inc. now owns 9,113 shares of the oil and gas company’s stock worth $43,000 after purchasing an additional 8,237 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in RPC during the 2nd quarter worth $47,000. Finally, Range Financial Group LLC purchased a new position in RPC during the 4th quarter worth $59,000. 41.06% of the stock is owned by hedge funds and other institutional investors.

About RPC

RPC, Inc (NYSE: RES) provides essential equipment and services to companies engaged in the exploration, production and maintenance of oil and natural gas wells. The firm operates as an equity interest holding company, partnering with a network of independent service businesses to deliver a comprehensive suite of offerings for well completion and production operations.

Through its affiliated service companies, RPC offers pressure pumping and fracturing services, coiled tubing and nitrogen pumping, downhole tools and telemetry solutions, well intervention and workover services, along with rental tools and supply-chain logistics.