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

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

Several other equities analysts also recently issued reports on the stock. Piper Sandler cut their price objective on shares of RPC from $5.00 to $4.00 and set an “underweight” rating on the stock in a report on Thursday, August 14th. Weiss Ratings upgraded shares of RPC from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, November 25th. Four research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, RPC presently has a consensus rating of “Reduce” and an average target price of $4.69.

RPC Stock Performance

Shares of RES stock opened at $5.32 on Friday. RPC has a 12-month low of $4.10 and a 12-month high of $7.17. The business’s fifty day simple moving average is $4.96 and its 200-day simple moving average is $4.82. The company has a current ratio of 2.64, a quick ratio of 2.16 and a debt-to-equity ratio of 0.03. The company has a market cap of $1.17 billion, a PE ratio of 20.46 and a beta of 0.80.

RPC (NYSE:RES) last posted its quarterly earnings data on Wednesday, November 16th. The oil and gas company reported $0.02 earnings per share for the quarter. RPC had a return on equity of 5.65% and a net margin of 3.77%.The firm had revenue of $225.31 million during the quarter. Analysts expect that RPC will post 0.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RPC

Several large investors have recently made changes to their positions in RES. Danske Bank A S acquired a new stake in RPC during the third quarter valued at $520,000. Voleon Capital Management LP purchased a new stake in shares of RPC during the 3rd quarter worth about $452,000. Verition Fund Management LLC grew its position in shares of RPC by 73.9% during the 3rd quarter. Verition Fund Management LLC now owns 90,827 shares of the oil and gas company’s stock valued at $432,000 after acquiring an additional 38,595 shares during the period. Prelude Capital Management LLC acquired a new stake in shares of RPC during the 3rd quarter valued at about $86,000. Finally, Mariner LLC increased its stake in shares of RPC by 3.3% in the 3rd quarter. Mariner LLC now owns 76,699 shares of the oil and gas company’s stock valued at $365,000 after purchasing an additional 2,446 shares in the last quarter. 41.06% of the stock is currently owned by institutional investors and hedge funds.

RPC Company Profile

RPC, Inc, through its subsidiaries, engages provision of 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 segment offers pressure pumping, fracturing, acidizing, cementing, 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.