Wall Street Zen Upgrades Ridgepost Capital (NYSE:RPC) to Buy

Key Points

• Wall Street Zen upgraded Ridgepost Capital from “hold” to “buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $13.00.
• RPC shares opened at $8.51 and were down 0.6%; the stock trades near its 50-day average of $8.47 and has a 12-month range of $6.79 to $12.55.
• Institutional investors hold 48.05% of Ridgepost Capital, with several funds—including California State Teachers Retirement System and Guardian Wealth Management—initiating positions during the second quarter.

Ridgepost Capital (NYSE:RPC - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday, Wall Street Zen reports.

Several other research analysts have also recently issued reports on the company. Oppenheimer reduced their price objective on Ridgepost Capital from $16.00 to $15.00 and set an "outperform" rating for the company in a research note on Thursday, August 27th. Barclays dropped their target price on Ridgepost Capital from $12.00 to $11.00 and set an "overweight" rating on the stock in a research report on Monday, August 10th. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Ridgepost Capital in a report on Monday, June 8th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $13.00.

Ridgepost Capital Trading Down 0.6%

NYSE:RPC opened at $8.51 on Friday. The firm has a fifty day simple moving average of $8.47 and a 200-day simple moving average of $8.10. Ridgepost Capital has a 12 month low of $6.79 and a 12 month high of $12.55. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $938.14 million, a P/E ratio of 34.04 and a beta of 0.87.

Institutional Investors Weigh In On Ridgepost Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in RPC. Susquehanna International Group LLP purchased a new stake in shares of Ridgepost Capital during the second quarter worth about $96,000. Caz Investments LP acquired a new position in shares of Ridgepost Capital during the 2nd quarter valued at about $157,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Ridgepost Capital in the 2nd quarter valued at about $988,000. Guardian Wealth Management Inc. acquired a new position in Ridgepost Capital in the second quarter valued at approximately $2,996,000. Finally, California State Teachers Retirement System acquired a new position in shares of Ridgepost Capital in the 2nd quarter valued at $4,317,000. Hedge funds and other institutional investors own 48.05% of the company's stock.

Ridgepost Capital Company Profile

P10 NYSE: RPC is an oilfield services company that provides specialized equipment and field services to upstream oil and gas operators. The company focuses on supplying non‑exclusive, rental and production support products and technical services that help customers complete, produce and maintain wells. Its offerings are designed to support a range of onshore operations, with emphasis on scalable, modular solutions that can be deployed across multiple basins.

Products and services typically include surface and downhole rental tools, completion and production accessories, well intervention and maintenance services, and related operational support.

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