RPC (NYSE:RES) Reaches New 12-Month Low at $6.67

RPC, Inc. (NYSE:RES) shares reached a new 52-week low on Tuesday . The stock traded as low as $6.67 and last traded at $6.69, with a volume of 3692 shares changing hands. The stock had previously closed at $6.96.

RES has been the subject of a number of research reports. ValuEngine lowered shares of Verso from a “hold” rating to a “sell” rating in a research report on Thursday, May 23rd. Bank of America upgraded shares of Air Products & Chemicals from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $170.00 to $215.00 in a research report on Thursday, April 25th. Citigroup reiterated a “buy” rating and set a $25.00 target price on shares of Propetro in a research report on Tuesday, July 2nd. AltaCorp Capital reiterated a “sector perform” rating on shares of STEP Energy Services in a research report on Thursday, June 20th. Finally, Susquehanna Bancshares set a $70.00 target price on shares of Helmerich & Payne and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Ten investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has assigned a buy rating to the company. RPC presently has a consensus rating of “Hold” and an average target price of $12.25.

The stock has a market capitalization of $1.46 billion, a PE ratio of 8.15, a PEG ratio of 5.85 and a beta of 1.06. The company has a quick ratio of 2.77, a current ratio of 3.53 and a debt-to-equity ratio of 0.04. The firm has a fifty day moving average price of $7.25.

RPC (NYSE:RES) last announced its quarterly earnings results on Wednesday, April 24th. The oil and gas company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). RPC had a return on equity of 11.99% and a net margin of 7.57%. The firm had revenue of $334.70 million during the quarter, compared to analysts’ expectations of $351.95 million. During the same period in the previous year, the company posted $0.24 earnings per share. The company’s quarterly revenue was down 23.3% compared to the same quarter last year. As a group, research analysts expect that RPC, Inc. will post 0.2 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in the company. Royce & Associates LP raised its stake in RPC by 1.2% in the first quarter. Royce & Associates LP now owns 2,095,261 shares of the oil and gas company’s stock valued at $23,907,000 after purchasing an additional 25,717 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in RPC by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,738,161 shares of the oil and gas company’s stock valued at $17,156,000 after purchasing an additional 13,560 shares in the last quarter. Bank of New York Mellon Corp raised its stake in RPC by 147.2% in the fourth quarter. Bank of New York Mellon Corp now owns 1,728,259 shares of the oil and gas company’s stock valued at $17,059,000 after purchasing an additional 1,029,104 shares in the last quarter. Deutsche Bank AG raised its stake in RPC by 13.8% in the fourth quarter. Deutsche Bank AG now owns 1,272,381 shares of the oil and gas company’s stock valued at $12,557,000 after purchasing an additional 154,467 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in RPC by 3.1% in the first quarter. First Trust Advisors LP now owns 1,158,663 shares of the oil and gas company’s stock valued at $13,220,000 after purchasing an additional 35,006 shares in the last quarter. 31.96% of the stock is currently owned by hedge funds and other institutional investors.

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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