Stephens Begins Coverage on RPC (RES)

Stephens initiated coverage on shares of RPC (NYSE:RES) in a research note issued to investors on Tuesday morning, Marketbeat reports. The firm issued an equal weight rating and a $28.00 target price on the oil and gas company’s stock.

Several other equities analysts also recently weighed in on RES. B. Riley reiterated a buy rating on shares of RPC in a research note on Wednesday, November 1st. Zacks Investment Research upgraded shares of RPC from a hold rating to a strong-buy rating and set a $29.00 target price for the company in a research note on Thursday, January 4th. Jefferies Group set a $29.00 target price on shares of RPC and gave the stock a hold rating in a research note on Thursday, January 4th. Cowen set a $24.00 target price on shares of RPC and gave the stock a hold rating in a research note on Friday, October 6th. Finally, FBR & Co set a $27.00 target price on shares of RPC and gave the stock a buy rating in a research note on Thursday, October 26th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $25.38.

RPC (NYSE:RES) traded down $0.72 on Tuesday, hitting $24.54. 2,754,510 shares of the stock traded hands, compared to its average volume of 1,127,773. The stock has a market capitalization of $5,470.96, a P/E ratio of 64.58, a price-to-earnings-growth ratio of 0.87 and a beta of 1.15. RPC has a 52-week low of $16.63 and a 52-week high of $27.07.

RPC (NYSE:RES) last posted its earnings results on Wednesday, October 25th. The oil and gas company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.03). The business had revenue of $471.00 million during the quarter, compared to analysts’ expectations of $474.41 million. RPC had a return on equity of 10.31% and a net margin of 6.03%. RPC’s revenue for the quarter was up 167.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.18) EPS. analysts anticipate that RPC will post 0.81 earnings per share for the current year.

In other news, Director Amy Rollins Kreisler acquired 5,000 shares of RPC stock in a transaction that occurred on Friday, October 27th. The stock was bought at an average price of $23.21 per share, with a total value of $116,050.00. Following the completion of the purchase, the director now owns 5,000 shares in the company, valued at $116,050. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 73.50% of the stock is currently owned by insiders.

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in RPC by 20.4% during the second quarter. Vanguard Group Inc. now owns 6,076,306 shares of the oil and gas company’s stock valued at $122,802,000 after purchasing an additional 1,028,001 shares during the last quarter. Victory Capital Management Inc. lifted its position in RPC by 244.9% during the third quarter. Victory Capital Management Inc. now owns 2,066,941 shares of the oil and gas company’s stock valued at $51,239,000 after purchasing an additional 1,467,661 shares during the last quarter. Alyeska Investment Group L.P. bought a new stake in RPC during the third quarter valued at approximately $47,921,000. Copper Rock Capital Partners LLC lifted its position in RPC by 3.6% during the fourth quarter. Copper Rock Capital Partners LLC now owns 1,645,244 shares of the oil and gas company’s stock valued at $41,855,000 after purchasing an additional 57,072 shares during the last quarter. Finally, Van ECK Associates Corp bought a new stake in RPC during the third quarter valued at approximately $36,128,000. Institutional investors and hedge funds own 38.07% of the company’s stock.

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About RPC

RPC, Inc (RPC) is a holding company for several oilfield services companies. The Company provides a range of specialized oilfield services and equipment primarily to independent oil and gas companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the southwest, mid-continent, Gulf of Mexico, Rocky Mountain and Appalachian regions, and in selected international markets.

Analyst Recommendations for RPC (NYSE:RES)

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