RPC, Inc. (NYSE:RES)’s share price was down 6.8% on Thursday . The company traded as low as $24.09 and last traded at $24.27. Approximately 3,220,900 shares were traded during mid-day trading, an increase of 102% from the average daily volume of 1,594,971 shares. The stock had previously closed at $26.05.
A number of equities analysts recently weighed in on RES shares. Citigroup upped their price target on RPC from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, October 5th. Stephens started coverage on RPC in a report on Tuesday. They issued an “equal weight” rating and a $28.00 price target for the company. B. Riley set a $27.00 price target on RPC and gave the stock a “buy” rating in a report on Tuesday, November 14th. Barclays set a $21.00 price target on RPC and gave the stock a “hold” rating in a report on Friday, October 27th. Finally, FBR & Co set a $27.00 price target on RPC and gave the stock a “buy” rating in a report on Thursday, October 26th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. RPC currently has a consensus rating of “Hold” and an average price target of $25.18.
The company has a market capitalization of $5,260.00, a price-to-earnings ratio of 66.47, a P/E/G ratio of 0.90 and a beta of 1.14.
In other news, Director Amy Rollins Kreisler bought 5,000 shares of RPC stock in a transaction on Friday, October 27th. The stock was acquired at an average price of $23.21 per share, with a total value of $116,050.00. Following the completion of the acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at $116,050. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 73.50% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in RES. Alyeska Investment Group L.P. acquired a new position in shares of RPC during the third quarter valued at approximately $47,921,000. Victory Capital Management Inc. grew its position in shares of RPC by 244.9% in the third quarter. Victory Capital Management Inc. now owns 2,066,941 shares of the oil and gas company’s stock valued at $51,239,000 after purchasing an additional 1,467,661 shares in the last quarter. Van ECK Associates Corp purchased a new stake in shares of RPC in the third quarter valued at approximately $36,128,000. Vanguard Group Inc. grew its position in shares of RPC by 20.4% in the second quarter. Vanguard Group Inc. now owns 6,076,306 shares of the oil and gas company’s stock valued at $122,802,000 after purchasing an additional 1,028,001 shares in the last quarter. Finally, Cambiar Investors LLC grew its position in shares of RPC by 272.4% in the third quarter. Cambiar Investors LLC now owns 720,583 shares of the oil and gas company’s stock valued at $17,863,000 after purchasing an additional 527,079 shares in the last quarter. 38.07% of the stock is owned by institutional investors and hedge funds.
RPC Company Profile
RPC, Inc (RPC) is a holding company for several oilfield services companies. The Company provides a range of specialized oilfield services and equipment primarily to independent oil and gas companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the southwest, mid-continent, Gulf of Mexico, Rocky Mountain and Appalachian regions, and in selected international markets.
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