RPC (RES) Research Coverage Started at Bank of America

Investment analysts at Bank of America initiated coverage on shares of RPC (NYSE:RES) in a research note issued on Wednesday, October 17th, MarketBeat reports. The brokerage set a “neutral” rating on the oil and gas company’s stock.

Several other research firms have also issued reports on RES. Wolfe Research began coverage on shares of RPC in a report on Wednesday, October 10th. They set an “underperform” rating for the company. ValuEngine upgraded shares of RPC from a “strong sell” rating to a “sell” rating in a report on Tuesday, October 2nd. Morgan Stanley set a $14.00 target price on RPC and gave the stock a “sell” rating in a research note on Thursday, October 11th. Zacks Investment Research raised RPC from a “strong sell” rating to a “hold” rating in a research note on Friday, October 12th. Finally, Citigroup dropped their price objective on RPC from $18.00 to $15.00 and set a “neutral” rating for the company in a research note on Monday, July 9th. Three equities research analysts have rated the stock with a sell rating and seventeen have issued a hold rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $17.35.

NYSE RES traded down $0.36 during trading hours on Wednesday, reaching $13.84. The company’s stock had a trading volume of 1,286,510 shares, compared to its average volume of 1,818,098. The firm has a market cap of $3.14 billion, a PE ratio of 20.97, a price-to-earnings-growth ratio of 0.96 and a beta of 0.70. RPC has a 52 week low of $12.96 and a 52 week high of $27.07. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.74 and a quick ratio of 3.01.

RPC (NYSE:RES) last issued its quarterly earnings data on Wednesday, October 24th. The oil and gas company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.04). RPC had a net margin of 12.40% and a return on equity of 20.48%. The business had revenue of $439.99 million during the quarter, compared to the consensus estimate of $456.54 million. During the same quarter last year, the business earned $0.26 EPS. The firm’s quarterly revenue was down 6.6% compared to the same quarter last year. As a group, research analysts anticipate that RPC will post 0.84 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its holdings in RPC by 3.6% in the second quarter. BlackRock Inc. now owns 3,071,238 shares of the oil and gas company’s stock worth $44,748,000 after purchasing an additional 105,394 shares in the last quarter. Gabelli Funds LLC raised its holdings in RPC by 1.6% in the third quarter. Gabelli Funds LLC now owns 2,691,185 shares of the oil and gas company’s stock worth $41,660,000 after purchasing an additional 43,080 shares in the last quarter. FMR LLC raised its holdings in RPC by 125.2% in the third quarter. FMR LLC now owns 2,540,280 shares of the oil and gas company’s stock worth $39,324,000 after purchasing an additional 1,412,519 shares in the last quarter. Gamco Investors INC. ET AL raised its holdings in RPC by 3.0% in the third quarter. Gamco Investors INC. ET AL now owns 2,518,979 shares of the oil and gas company’s stock worth $38,994,000 after purchasing an additional 72,237 shares in the last quarter. Finally, Deprince Race & Zollo Inc. raised its holdings in RPC by 17.5% in the third quarter. Deprince Race & Zollo Inc. now owns 1,938,156 shares of the oil and gas company’s stock worth $30,003,000 after purchasing an additional 288,359 shares in the last quarter. Institutional investors own 32.31% of the company’s stock.

About RPC

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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Analyst Recommendations for RPC (NYSE:RES)

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