RPC (NYSE:RES) Sets New 1-Year Low After Analyst Downgrade

Shares of RPC, Inc. (NYSE:RES) reached a new 52-week low during mid-day trading on Monday after Morgan Stanley lowered their price target on the stock from $15.00 to $10.00. Morgan Stanley currently has an overweight rating on the stock. RPC traded as low as $6.43 and last traded at $6.54, with a volume of 24461 shares. The stock had previously closed at $6.64.

A number of other brokerages also recently weighed in on RES. ValuEngine downgraded Verso from a “hold” rating to a “sell” rating in a report on Thursday, May 23rd. AltaCorp Capital reiterated a “sector perform” rating on shares of STEP Energy Services in a report on Thursday, June 20th. Susquehanna Bancshares set a $70.00 price target on Helmerich & Payne and gave the company a “buy” rating in a report on Tuesday, April 2nd. Bank of America upgraded Air Products & Chemicals from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $170.00 to $215.00 in a report on Thursday, April 25th. Finally, Citigroup reiterated a “buy” rating and issued a $25.00 price target on shares of Propetro in a report on Tuesday, July 2nd. Nine research analysts have rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company. RPC presently has an average rating of “Hold” and a consensus price target of $12.28.

A number of large investors have recently added to or reduced their stakes in the stock. Royce & Associates LP boosted its position in RPC by 1.2% during the 1st quarter. Royce & Associates LP now owns 2,095,261 shares of the oil and gas company’s stock valued at $23,907,000 after purchasing an additional 25,717 shares during the period. Dimensional Fund Advisors LP boosted its position in RPC by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,738,161 shares of the oil and gas company’s stock worth $17,156,000 after acquiring an additional 13,560 shares during the period. Bank of New York Mellon Corp boosted its position in RPC by 147.2% during the 4th quarter. Bank of New York Mellon Corp now owns 1,728,259 shares of the oil and gas company’s stock worth $17,059,000 after acquiring an additional 1,029,104 shares during the period. Deutsche Bank AG boosted its position in RPC by 13.8% during the 4th quarter. Deutsche Bank AG now owns 1,272,381 shares of the oil and gas company’s stock worth $12,557,000 after acquiring an additional 154,467 shares during the period. Finally, First Trust Advisors LP boosted its position in RPC by 3.1% during the 1st quarter. First Trust Advisors LP now owns 1,158,663 shares of the oil and gas company’s stock worth $13,220,000 after acquiring an additional 35,006 shares during the period. Institutional investors and hedge funds own 31.94% of the company’s stock.

The company has a current ratio of 3.53, a quick ratio of 2.77 and a debt-to-equity ratio of 0.04. The business has a 50-day simple moving average of $7.11. The firm has a market cap of $1.43 billion, a P/E ratio of 7.76, a price-to-earnings-growth ratio of 6.34 and a beta of 1.06.

RPC (NYSE:RES) last announced its quarterly earnings results on Wednesday, April 24th. The oil and gas company reported ($0.02) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.05). RPC had a return on equity of 11.99% and a net margin of 7.57%. The business had revenue of $334.70 million for the quarter, compared to analyst estimates of $351.95 million. During the same quarter last year, the firm posted $0.24 EPS. The company’s revenue was down 23.3% compared to the same quarter last year. Equities analysts forecast that RPC, Inc. will post 0.18 earnings per share for the current fiscal year.

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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