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RPC (NYSE:RES) Rating Reiterated by Capital One Financial

Last updated on Saturday, August 1, 2020 | 2020 MarketBeat

RPC (NYSE:RES)'s stock had its "equal weight" rating reissued by research analysts at Capital One Financial in a research note issued on Wednesday, Zacks.com reports.

A number of other equities analysts also recently issued reports on RES. Citigroup increased their price target on RPC from $1.90 to $2.30 and gave the stock a "sell" rating in a research report on Thursday, May 21st. ValuEngine raised RPC from a "hold" rating to a "buy" rating in a research report on Friday, May 1st. Scotiabank raised RPC from an "underperform" rating to a "sector perform" rating and set a $3.00 price target on the stock in a research report on Sunday, April 12th. Raymond James reissued an "outperform" rating and set a $4.00 price target (up previously from $3.00) on shares of RPC in a research report on Thursday, May 7th. Finally, Morgan Stanley increased their price target on RPC from $2.50 to $3.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 8th. Five equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of "Hold" and an average target price of $3.61.

RPC stock traded down $0.08 during mid-day trading on Wednesday, hitting $2.97. The company's stock had a trading volume of 1,846,806 shares, compared to its average volume of 769,909. The company has a 50 day moving average of $3.13 and a 200-day moving average of $3.27. The stock has a market cap of $656.54 million, a PE ratio of -2.25 and a beta of 2.14. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.24 and a current ratio of 6.96. RPC has a one year low of $1.72 and a one year high of $6.92.

RPC (NYSE:RES) last announced its quarterly earnings data on Wednesday, July 29th. The oil and gas company reported ($0.10) EPS for the quarter, beating the Thomson Reuters' consensus estimate of ($0.13) by $0.03. The company had revenue of $89.30 million for the quarter, compared to the consensus estimate of $102.50 million. RPC had a negative return on equity of 8.40% and a negative net margin of 32.25%. RPC's quarterly revenue was down 75.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.03 EPS. On average, equities research analysts forecast that RPC will post -0.36 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Marshall Wace North America L.P. purchased a new stake in RPC in the first quarter valued at about $25,000. Comerica Bank raised its stake in RPC by 7.7% in the second quarter. Comerica Bank now owns 54,281 shares of the oil and gas company's stock valued at $178,000 after buying an additional 3,877 shares during the last quarter. Mraz Amerine & Associates Inc. raised its stake in RPC by 1.0% in the second quarter. Mraz Amerine & Associates Inc. now owns 431,660 shares of the oil and gas company's stock valued at $1,330,000 after buying an additional 4,425 shares during the last quarter. Horizon Kinetics Asset Management LLC raised its stake in RPC by 8.0% in the first quarter. Horizon Kinetics Asset Management LLC now owns 62,478 shares of the oil and gas company's stock valued at $129,000 after buying an additional 4,649 shares during the last quarter. Finally, Swiss National Bank raised its stake in RPC by 4.1% in the first quarter. Swiss National Bank now owns 124,800 shares of the oil and gas company's stock valued at $257,000 after buying an additional 4,900 shares during the last quarter. Hedge funds and other institutional investors own 30.23% 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.

See Also: How to Calculate Compound Annual Growth Rate (CAGR)

Analyst Recommendations for RPC (NYSE:RES)

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