RPC (NYSE:RES) Shares Gap Down - Time to Sell?

Key Points

• RPC shares fell sharply: The stock opened at $5.75 versus a prior close of $6.73 and was last trading near $6.58, down 6.6%.
• Analyst sentiment is cautious: Susquehanna cut its price target to $6.00, while coverage stands at three Holds and one Sell, giving RPC an overall “Reduce” rating.
• Quarterly results were mixed: RPC met expectations with $0.10 in adjusted EPS, while revenue of $467.74 million slightly missed estimates but increased 4.6% year over year.

Shares of RPC, Inc. (NYSE:RES - Get Free Report) gapped down before the market opened on Thursday. The stock had previously closed at $6.73, but opened at $5.75. RPC shares last traded at $6.5750, with a volume of 201,063 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Susquehanna dropped their price objective on shares of RPC from $7.50 to $6.00 and set a "neutral" rating for the company in a research report on Wednesday, July 8th. Weiss Ratings lowered shares of RPC from a "hold (c)" rating to a "hold (c-)" rating in a report on Wednesday, September 16th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, RPC has an average rating of "Reduce" and a consensus target price of $6.00.

RPC Trading Down 6.6%

The company has a quick ratio of 2.76, a current ratio of 3.34 and a debt-to-equity ratio of 0.02. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 69.71 and a beta of 0.86. The business has a 50 day moving average price of $6.15 and a 200-day moving average price of $6.37.

RPC (NYSE:RES - Get Free Report) last announced its earnings results on Thursday, October 29th. The oil and gas company reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. The business had revenue of $467.74 million for the quarter, compared to the consensus estimate of $469.12 million. RPC had a return on equity of 4.82% and a net margin of 1.28%. The company's revenue was up 4.6% on a year-over-year basis. During the same period last year, the business posted $0.09 EPS. As a group, research analysts expect that RPC, Inc. will post 0.26 EPS for the current fiscal year.

Institutional Investors Weigh In On RPC

Large investors have recently added to or reduced their stakes in the company. USA Financial Formulas purchased a new stake in RPC during the 3rd quarter worth approximately $40,000. GAMMA Investing LLC raised its position in shares of RPC by 28.7% in the 3rd quarter. GAMMA Investing LLC now owns 7,892 shares of the oil and gas company's stock valued at $44,000 after purchasing an additional 1,761 shares in the last quarter. State of Wyoming purchased a new position in shares of RPC during the 2nd quarter valued at approximately $54,000. Commerce Bank purchased a new position in shares of RPC during the 2nd quarter valued at approximately $62,000. Finally, PDT Partners LLC purchased a new position in shares of RPC during the 2nd quarter valued at approximately $77,000. 41.06% of the stock is owned by institutional investors and hedge funds.

RPC Company Profile

RPC, Inc NYSE: RES is an oilfield services company that provides specialized equipment and services to energy producers and exploration and production companies. Its offerings support the drilling, completion, production and maintenance of oil and natural gas wells.

The company's services include pressure pumping, coiled tubing, well control, nitrogen services, downhole tools, well testing, fishing and rental equipment. These services are used in activities such as hydraulic fracturing, well intervention, workover operations and production enhancement.

RPC was founded in 1984 and is headquartered in Atlanta, Georgia.

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