RPC (NYSE:RES) Lifted to “Sell” at ValuEngine

ValuEngine upgraded shares of RPC (NYSE:RES) from a strong sell rating to a sell rating in a research report report published on Thursday morning, ValuEngine reports.

Other equities research analysts have also issued research reports about the company. Morgan Stanley cut their target price on RPC from $15.00 to $10.00 and set an overweight rating on the stock in a research report on Friday, July 12th. Citigroup set a $6.00 target price on RPC and gave the company a sell rating in a research report on Tuesday, July 2nd. Gabelli lowered RPC from a buy rating to a hold rating in a research report on Thursday, July 25th. Bank of America restated an underperform rating and set a $9.50 target price (down previously from $12.00) on shares of RPC in a research report on Thursday, April 25th. Finally, AltaCorp Capital restated an underperform rating on shares of RPC in a research report on Thursday, June 20th. Nine investment analysts have rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $11.87.

Shares of NYSE RES traded up $0.04 during trading on Thursday, reaching $5.82. The company had a trading volume of 322,533 shares, compared to its average volume of 2,757,653. The company has a fifty day simple moving average of $6.64. RPC has a 12 month low of $5.43 and a 12 month high of $17.24. The company has a market cap of $1.24 billion, a PE ratio of 6.99, a P/E/G ratio of 33.26 and a beta of 1.05. The company has a current ratio of 3.53, a quick ratio of 2.77 and a debt-to-equity ratio of 0.04.

RPC (NYSE:RES) last announced its earnings results on Wednesday, July 24th. The oil and gas company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). RPC had a net margin of 4.55% and a return on equity of 6.32%. The business had revenue of $358.50 million for the quarter, compared to the consensus estimate of $362.40 million. During the same quarter in the previous year, the company earned $0.28 EPS. The firm’s revenue for the quarter was down 23.4% on a year-over-year basis. As a group, sell-side analysts forecast that RPC will post 0.03 EPS for the current year.

A number of large investors have recently made changes to their positions in RES. Morgan Dempsey Capital Management LLC raised its stake in shares of RPC by 384.1% in the first quarter. Morgan Dempsey Capital Management LLC now owns 128,249 shares of the oil and gas company’s stock worth $1,463,000 after purchasing an additional 101,758 shares during the last quarter. NumerixS Investment Technologies Inc purchased a new stake in shares of RPC in the first quarter worth approximately $154,000. Two Sigma Investments LP purchased a new stake in shares of RPC in the fourth quarter worth approximately $382,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of RPC in the first quarter worth approximately $172,000. Finally, New York State Common Retirement Fund raised its stake in shares of RPC by 19.3% in the first quarter. New York State Common Retirement Fund now owns 430,653 shares of the oil and gas company’s stock worth $4,914,000 after purchasing an additional 69,660 shares during the last quarter. Institutional investors and hedge funds own 31.90% of the company’s stock.

RPC Company Profile

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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Analyst Recommendations for RPC (NYSE:RES)

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