Weiss Ratings Reiterates Sell (D+) Rating for RPC (NYSE:RES)

RPC (NYSE:RES - Get Free Report)'s stock had its "sell (d+)" rating reaffirmed by research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Several other research firms have also recently commented on RES. Stifel Nicolaus cut their price target on RPC from $6.00 to $5.00 and set a "hold" rating on the stock in a research note on Wednesday, July 16th. Susquehanna cut their price target on RPC from $5.50 to $5.00 and set a "neutral" rating on the stock in a research note on Friday, July 25th. Finally, Piper Sandler cut their price target on RPC from $5.00 to $4.00 and set an "underweight" rating on the stock in a research note on Thursday, August 14th. Three research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of $4.69.

RPC Trading Up 0.4%

Shares of RES opened at $4.77 on Wednesday. The stock's 50-day moving average is $4.63 and its two-hundred day moving average is $4.80. The stock has a market cap of $1.05 billion, a PE ratio of 18.35 and a beta of 0.83. RPC has a 12 month low of $4.10 and a 12 month high of $7.17. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.64 and a quick ratio of 2.16.

RPC (NYSE:RES - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $0.08 EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.01). The company had revenue of $420.81 million for the quarter, compared to analyst estimates of $421.08 million. RPC had a return on equity of 5.65% and a net margin of 3.77%.The company's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.15 EPS. Equities analysts forecast that RPC will post 0.31 earnings per share for the current fiscal year.

Institutional Trading of RPC

Several hedge funds and other institutional investors have recently bought and sold shares of RES. GAMMA Investing LLC increased its holdings in RPC by 265.4% in the first quarter. GAMMA Investing LLC now owns 36,856 shares of the oil and gas company's stock valued at $203,000 after buying an additional 26,769 shares during the last quarter. Wedge Capital Management L L P NC raised its position in shares of RPC by 9.6% during the 1st quarter. Wedge Capital Management L L P NC now owns 178,369 shares of the oil and gas company's stock worth $981,000 after purchasing an additional 15,686 shares during the period. SG Americas Securities LLC raised its position in shares of RPC by 144.2% during the 1st quarter. SG Americas Securities LLC now owns 101,940 shares of the oil and gas company's stock worth $561,000 after purchasing an additional 60,197 shares during the period. SummerHaven Investment Management LLC raised its position in shares of RPC by 1.8% during the 1st quarter. SummerHaven Investment Management LLC now owns 134,642 shares of the oil and gas company's stock worth $741,000 after purchasing an additional 2,346 shares during the period. Finally, Exchange Traded Concepts LLC raised its position in shares of RPC by 13.2% during the 1st quarter. Exchange Traded Concepts LLC now owns 197,075 shares of the oil and gas company's stock worth $1,084,000 after purchasing an additional 22,921 shares during the period. 41.06% of the stock is owned by institutional investors.

RPC Company Profile

RPC, Inc, through its subsidiaries, engages provision of 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 segment offers pressure pumping, fracturing, acidizing, cementing, 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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