RPC (NYSE:RES)‘s stock had its “hold” rating reaffirmed by Cowen in a report released on Friday. They presently have a $19.00 target price on the oil and gas company’s stock. Cowen’s target price indicates a potential upside of 4.57% from the company’s current price.
A number of other equities analysts have also recently issued reports on the stock. B. Riley cut shares of RPC from a “buy” rating to a “hold” rating and set a $27.00 price objective on the stock. in a research note on Thursday, December 28th. Guggenheim set a $25.00 price objective on shares of RPC and gave the company a “buy” rating in a research note on Monday, January 29th. Stephens started coverage on shares of RPC in a research note on Tuesday, January 9th. They issued an “equal weight” rating and a $28.00 price objective on the stock. Wells Fargo reaffirmed a “market perform” rating on shares of RPC in a research note on Friday, January 12th. Finally, Zacks Investment Research raised shares of RPC from a “hold” rating to a “strong-buy” rating and set a $29.00 price objective on the stock in a research note on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $23.50.
Shares of RES stock opened at $18.17 on Friday. RPC has a 52-week low of $16.70 and a 52-week high of $27.07. The company has a market capitalization of $3,989.82, a price-to-earnings ratio of 27.53, a price-to-earnings-growth ratio of 0.62 and a beta of 0.83.
RPC (NYSE:RES) last announced its quarterly earnings data on Wednesday, January 24th. The oil and gas company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.16). RPC had a net margin of 10.19% and a return on equity of 16.90%. The business had revenue of $427.30 million during the quarter, compared to the consensus estimate of $515.04 million. During the same period in the previous year, the business posted ($0.10) earnings per share. RPC’s revenue was up 93.3% compared to the same quarter last year. equities research analysts predict that RPC will post 1.64 EPS for the current year.
RPC announced that its board has authorized a stock buyback program on Monday, February 12th that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the oil and gas company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. The Manufacturers Life Insurance Company raised its holdings in RPC by 7.6% in the second quarter. The Manufacturers Life Insurance Company now owns 6,514 shares of the oil and gas company’s stock worth $132,000 after purchasing an additional 459 shares during the period. California Public Employees Retirement System raised its holdings in shares of RPC by 1.1% during the third quarter. California Public Employees Retirement System now owns 243,549 shares of the oil and gas company’s stock worth $6,038,000 after acquiring an additional 2,549 shares during the period. Eqis Capital Management Inc. raised its holdings in shares of RPC by 13.1% during the fourth quarter. Eqis Capital Management Inc. now owns 22,171 shares of the oil and gas company’s stock worth $566,000 after acquiring an additional 2,561 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of RPC by 71.0% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,534 shares of the oil and gas company’s stock worth $167,000 after acquiring an additional 2,714 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in shares of RPC by 52.8% during the third quarter. Envestnet Asset Management Inc. now owns 8,105 shares of the oil and gas company’s stock worth $201,000 after acquiring an additional 2,800 shares during the period. Institutional investors own 35.32% of the company’s stock.
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RPC Company Profile
RPC, Inc 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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