RPC, Inc. (NYSE:RES) Receives Average Recommendation of “Hold” from Analysts

RPC, Inc. (NYSE:RES) has been given a consensus recommendation of “Hold” by the seventeen ratings firms that are covering the firm, Analyst Ratings Network.com reports. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $13.67.

Shares of RPC (NYSE:RES) traded down 3.26% during mid-day trading on Monday, reaching $11.56. The company’s stock had a trading volume of 575,593 shares. The firm has a market capitalization of $2.51 billion and a P/E ratio of 154.13. The company’s 50-day moving average is $12.48 and its 200 day moving average is $11.91. RPC has a 1-year low of $8.45 and a 1-year high of $16.66.

RPC (NYSE:RES) last posted its quarterly earnings results on Wednesday, October 28th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.15) by $0.01. The firm earned $291.90 million during the quarter, compared to analyst estimates of $294.27 million. RPC’s revenue for the quarter was down 53.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.30 earnings per share. On average, analysts expect that RPC will post ($0.46) earnings per share for the current year.

Several analysts have recently commented on RES shares. FBR & Co. reissued a “market perform” rating and issued a $11.00 price target (down from $14.00) on shares of RPC in a report on Monday, September 21st. Zacks Investment Research cut RPC from a “buy” rating to a “hold” rating in a report on Wednesday, December 30th. Guggenheim initiated coverage on RPC in a report on Tuesday, December 22nd. They issued a “buy” rating and a $18.00 price target for the company. Oppenheimer reaffirmed a “hold” rating and set a $11.00 price objective (down from $12.00) on shares of RPC in a report on Thursday, October 1st. Finally, Credit Suisse initiated coverage on RPC in a report on Monday, December 21st. They set a “neutral” rating and a $12.00 price objective for the company.

In related news, Director James A. Lane, Jr. sold 30,000 shares of the business’s stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $12.40, for a total value of $372,000.00. Following the transaction, the director now owns 251,845 shares in the company, valued at $3,122,878. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

An institutional investor recently bought a new position in RPC stock. Jennison Associates bought a new position in shares of RPC, Inc. (NYSE:RES) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The hedge fund bought 1,703,339 shares of the company’s stock, valued at approximately $15,075,000. Jennison Associates owned approximately 0.78% of RPC as of its most recent filing with the SEC.

12 Month Chart for NYSE:RES

RPC, Inc. (NYSE:RES) is an oilfield services holding company. The Company provides a specialized oilfield services and equipment to independent and oil and gas companies engaged in the exploration, production and development of oil and gas properties. The services and equipment provided include pressure pumping services, downhole tool services, coiled tubing services, snubbing services, nitrogen services, the rental of drill pipe and other specialized oilfield equipment, and well control. The Company’s service lines include two segments in oil and gas services business segments: Technical Services and Support Services. RPC acts as a holding company for its operating units, Cudd Energy Services, Patterson Rental and Fishing Tools, Bronco Oilfield Services, Thru Tubing Solutions, Well Control School and others.

 

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