Goldman Sachs Group Inc. increased its stake in shares of RPC, Inc. (NYSE:RES) by 142.4% during the first quarter, according to its most recent filing with the SEC. The fund owned 465,621 shares of the oil and gas company’s stock after buying an additional 273,554 shares during the period. Goldman Sachs Group Inc. owned approximately 0.21% of RPC worth $8,526,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in RES. Flinton Capital Management LLC boosted its stake in shares of RPC by 86.9% in the first quarter. Flinton Capital Management LLC now owns 7,296 shares of the oil and gas company’s stock valued at $134,000 after buying an additional 3,392 shares during the last quarter. Meadow Creek Investment Management LLC boosted its stake in shares of RPC by 86.9% in the first quarter. Meadow Creek Investment Management LLC now owns 10,032 shares of the oil and gas company’s stock valued at $184,000 after buying an additional 4,664 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of RPC by 22.0% in the first quarter. Pacer Advisors Inc. now owns 10,144 shares of the oil and gas company’s stock valued at $186,000 after buying an additional 1,830 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of RPC by 40.9% in the first quarter. BNP Paribas Arbitrage SA now owns 10,503 shares of the oil and gas company’s stock valued at $192,000 after buying an additional 3,048 shares during the last quarter. Finally, Advisory Services Network LLC bought a new stake in shares of RPC during the first quarter valued at approximately $206,000. Institutional investors and hedge funds own 40.20% of the company’s stock.
RPC, Inc. (RES) opened at 21.38 on Friday. RPC, Inc. has a 12 month low of $13.49 and a 12 month high of $23.36. The stock’s 50 day moving average price is $20.04 and its 200-day moving average price is $19.69. The firm’s market capitalization is $4.66 billion.
RPC (NYSE:RES) last posted its quarterly earnings results on Wednesday, April 26th. The oil and gas company reported $0.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.04. RPC had a negative return on equity of 12.86% and a negative net margin of 12.54%. The firm had revenue of $298.12 million during the quarter, compared to analysts’ expectations of $273.35 million. During the same quarter in the previous year, the business earned ($0.15) earnings per share. The company’s revenue was up 57.7% on a year-over-year basis. Equities analysts anticipate that RPC, Inc. will post $0.63 EPS for the current fiscal year.
TRADEMARK VIOLATION WARNING: This story was originally reported by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this story on another domain, it was illegally copied and republished in violation of United States and international copyright & trademark law. The legal version of this story can be accessed at https://stocknewstimes.com/2017/07/21/goldman-sachs-group-inc-has-8-53-million-position-in-rpc-inc-res.html.
RES has been the topic of several analyst reports. Jefferies Group LLC set a $26.00 target price on RPC and gave the company a “buy” rating in a report on Saturday, June 17th. Zacks Investment Research upgraded RPC from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a report on Wednesday, March 29th. Tudor Pickering started coverage on RPC in a report on Thursday, March 23rd. They issued a “buy” rating on the stock. Morgan Stanley dropped their price target on RPC from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Wednesday, June 21st. Finally, Wolfe Research lowered RPC from an “outperform” rating to a “market perform” rating and set a $20.00 price target on the stock. in a research note on Monday, April 17th. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $22.68.
About RPC
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.
Receive News & Ratings for RPC Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RPC Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
