RPC (NYSE:RES) Reaches New 52-Week Low at $3.98

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RPC, Inc. (NYSE:RES)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $3.98 and last traded at $4.06, with a volume of 45686 shares traded. The stock had previously closed at $4.20.

Several research firms have recently issued reports on RES. 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. Morgan Stanley decreased their price target on RPC from $8.00 to $7.00 and set an “overweight” rating for the company in a research note on Monday, October 7th. Citigroup raised RPC from a “sell” rating to a “neutral” rating and increased their price target for the stock from $4.80 to $4.90 in a research note on Monday, October 21st. They noted that the move was a valuation call. Wells Fargo & Co decreased their target price on RPC from $4.00 to $3.50 and set an “underperform” rating for the company in a research note on Thursday, October 24th. Finally, ValuEngine raised RPC from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Six investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $7.89.

The company has a 50 day moving average of $4.83 and a two-hundred day moving average of $6.50. The firm has a market cap of $935.22 million, a P/E ratio of 4.97 and a beta of 1.10. The company has a quick ratio of 2.75, a current ratio of 3.53 and a debt-to-equity ratio of 0.05.

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

Hedge funds and other institutional investors have recently made changes to their positions in the company. CoreCommodity Management LLC lifted its holdings in shares of RPC by 87.6% during the second quarter. CoreCommodity Management LLC now owns 208,310 shares of the oil and gas company’s stock valued at $1,502,000 after purchasing an additional 97,285 shares during the last quarter. Morgan Stanley lifted its stake 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 acquiring an additional 498,480 shares in the last quarter. Morgan Dempsey Capital Management LLC lifted its stake in RPC by 18.5% in the 2nd quarter. Morgan Dempsey Capital Management LLC now owns 151,979 shares of the oil and gas company’s stock worth $1,096,000 after acquiring an additional 23,730 shares in the last quarter. Van ECK Associates Corp lifted its stake in RPC by 53.3% in the 2nd quarter. Van ECK Associates Corp now owns 2,256,464 shares of the oil and gas company’s stock worth $16,269,000 after acquiring an additional 784,479 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in RPC by 7.3% in the 2nd quarter. Vanguard Group Inc. now owns 5,489,888 shares of the oil and gas company’s stock worth $39,582,000 after acquiring an additional 373,555 shares in the last quarter. 33.23% of the stock is 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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