RPC (NYSE:RES) Trading Down 5.9%

RPC, Inc. (NYSE:RES) shares traded down 5.9% on Tuesday . The company traded as low as $3.54 and last traded at $3.66, 2,170,205 shares were traded during mid-day trading. A decline of 3% from the average session volume of 2,228,237 shares. The stock had previously closed at $3.89.

RES has been the subject of several recent analyst reports. ValuEngine raised shares of RPC from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Morgan Stanley cut their target price on RPC from $8.00 to $7.00 and set an “overweight” rating for the company in a research report on Monday, October 7th. Barclays decreased their target price on RPC from $5.50 to $5.00 and set an “underweight” rating on the stock in a research note on Monday, September 30th. Citigroup cut RPC from a “neutral” rating to a “sell” rating and set a $3.10 price target on the stock. in a report on Wednesday, November 20th. Finally, Goldman Sachs Group set a $4.10 price target on RPC and gave the stock a “sell” rating in a research note on Friday, October 25th. Eight investment analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $7.80.

The company has a debt-to-equity ratio of 0.05, a current ratio of 3.53 and a quick ratio of 2.75. The stock has a 50-day moving average price of $4.24 and a two-hundred day moving average price of $5.83. The stock has a market cap of $787.22 million, a PE ratio of 4.46 and a beta of 1.12.

RPC (NYSE:RES) last announced its quarterly earnings results on Wednesday, October 23rd. The oil and gas company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.07). The firm had revenue of $293.20 million for the quarter, compared to the consensus estimate of $336.48 million. RPC had a negative net margin of 3.70% and a positive return on equity of 0.09%. RPC’s quarterly revenue was down 33.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.23 earnings per share. Equities research analysts expect that RPC, Inc. will post -0.16 earnings per share for the current year.

Several institutional investors and hedge funds have recently modified their holdings of RES. Texas Permanent School Fund purchased a new position in shares of RPC in the 3rd quarter worth approximately $197,000. State of Tennessee Treasury Department bought a new position in RPC during the 3rd quarter valued at about $142,000. Louisiana State Employees Retirement System purchased a new stake in RPC in the 3rd quarter worth about $107,000. CoreCommodity Management LLC raised its position in RPC by 87.6% in the 2nd quarter. CoreCommodity Management LLC now owns 208,310 shares of the oil and gas company’s stock worth $1,502,000 after purchasing an additional 97,285 shares during the period. Finally, Morgan Stanley raised its position in RPC by 122.9% in the 2nd quarter. Morgan Stanley now owns 904,096 shares of the oil and gas company’s stock worth $6,519,000 after purchasing an additional 498,480 shares during the period. 37.22% of the stock is currently owned by institutional investors and hedge funds.

RPC Company Profile (NYSE:RES)

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 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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