RPC (NYSE:RES) Stock Rating Lowered by Wall Street Zen

RPC (NYSE:RES) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

RES has been the topic of a number of other research reports. Citigroup increased their target price on RPC from $5.75 to $6.00 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Weiss Ratings restated a “hold (c-)” rating on shares of RPC in a report on Monday, December 29th. Piper Sandler reiterated an “underweight” rating on shares of RPC in a report on Thursday, December 18th. Finally, Susquehanna boosted their price objective on shares of RPC from $5.50 to $6.00 and gave the company a “neutral” rating in a research report on Wednesday, January 7th. Four investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $5.25.

RPC Stock Performance

RPC stock opened at $5.79 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.24 and a quick ratio of 2.70. The firm has a market capitalization of $1.28 billion, a P/E ratio of 38.60 and a beta of 0.72. RPC has a 1-year low of $4.10 and a 1-year high of $6.85. The company’s 50-day moving average is $5.85 and its 200 day moving average is $5.17.

RPC (NYSE:RES) last released its earnings results on Tuesday, February 3rd. The oil and gas company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). RPC had a net margin of 1.97% and a return on equity of 5.24%. The business had revenue of $425.78 million for the quarter, compared to the consensus estimate of $423.30 million. During the same period in the prior year, the company posted $0.06 EPS. The company’s quarterly revenue was up 26.9% compared to the same quarter last year. Research analysts forecast that RPC will post 0.31 EPS for the current year.

Institutional Investors Weigh In On RPC

Hedge funds have recently modified their holdings of the business. Hussman Strategic Advisors Inc. bought a new position in shares of RPC during the fourth quarter valued at approximately $571,000. CWM LLC lifted its holdings in RPC by 88.2% during the fourth quarter. CWM LLC now owns 9,316 shares of the oil and gas company’s stock worth $51,000 after buying an additional 4,365 shares during the period. Unison Advisors LLC purchased a new stake in RPC during the fourth quarter worth $687,000. Range Financial Group LLC bought a new stake in RPC during the 4th quarter valued at $59,000. Finally, Wedge Capital Management L L P NC increased its holdings in shares of RPC by 7.2% in the 4th quarter. Wedge Capital Management L L P NC now owns 185,693 shares of the oil and gas company’s stock valued at $1,010,000 after acquiring an additional 12,396 shares during the period. Hedge funds and other institutional investors own 41.06% of the company’s stock.

RPC Company Profile

RPC, Inc (NYSE: RES) provides essential equipment and services to companies engaged in the exploration, production and maintenance of oil and natural gas wells. The firm operates as an equity interest holding company, partnering with a network of independent service businesses to deliver a comprehensive suite of offerings for well completion and production operations.

Through its affiliated service companies, RPC offers pressure pumping and fracturing services, coiled tubing and nitrogen pumping, downhole tools and telemetry solutions, well intervention and workover services, along with rental tools and supply-chain logistics.