RPC (NYSE:RES) Trading Down 7.7%

RPC, Inc. (NYSE:RES)’s stock price dropped 7.7% during mid-day trading on Wednesday . The stock traded as low as $6.03 and last traded at $5.72, approximately 60,960 shares were traded during trading. A decline of 97% from the average daily volume of 1,938,890 shares. The stock had previously closed at $6.20.

A number of research analysts have recently weighed in on the company. Barclays reissued a “sell” rating and issued a $5.50 price objective on shares of RPC in a report on Sunday, July 28th. Morgan Stanley cut their price objective on RPC from $15.00 to $10.00 and set an “overweight” rating on the stock in a report on Friday, July 12th. AltaCorp Capital reissued an “underperform” rating on shares of RPC in a report on Thursday, June 20th. Wells Fargo & Co cut their price objective on RPC from $5.50 to $4.50 and set an “underperform” rating on the stock in a report on Thursday, September 12th. Finally, Gabelli lowered RPC from a “buy” rating to a “hold” rating in a report on Thursday, July 25th. Nine analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $10.42.

The company has a quick ratio of 2.45, a current ratio of 3.13 and a debt-to-equity ratio of 0.03. The stock has a market cap of $1.21 billion, a PE ratio of 6.98, a P/E/G ratio of 285.62 and a beta of 1.08. The business has a 50 day moving average price of $5.68 and a 200 day moving average price of $8.24.



RPC (NYSE:RES) last issued its earnings results on Wednesday, July 24th. The oil and gas company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). RPC had a return on equity of 6.37% and a net margin of 4.55%. The company had revenue of $358.50 million during the quarter, compared to analysts’ expectations of $362.40 million. During the same quarter in the previous year, the company earned $0.28 EPS. The firm’s quarterly revenue was down 23.4% compared to the same quarter last year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in RPC by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,738,161 shares of the oil and gas company’s stock worth $17,156,000 after purchasing an additional 13,560 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in RPC during the first quarter worth approximately $3,321,000. New York State Common Retirement Fund boosted its position in RPC by 19.3% during the first quarter. New York State Common Retirement Fund now owns 430,653 shares of the oil and gas company’s stock worth $4,914,000 after purchasing an additional 69,660 shares in the last quarter. US Bancorp DE boosted its position in RPC by 178.6% during the first quarter. US Bancorp DE now owns 64,308 shares of the oil and gas company’s stock worth $734,000 after purchasing an additional 41,226 shares in the last quarter. Finally, Dean Investment Associates LLC raised its holdings in shares of RPC by 25.2% during the first quarter. Dean Investment Associates LLC now owns 582,640 shares of the oil and gas company’s stock valued at $6,648,000 after acquiring an additional 117,180 shares during the last quarter. Hedge funds and other institutional investors own 33.78% of the company’s stock.

RPC Company Profile (NYSE:RES)

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.

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