Jefferies Group Reiterates $29.00 Price Target for RPC (NYSE:RES)

RPC (NYSE:RES) has been given a $29.00 target price by equities research analysts at Jefferies Group in a research note issued on Thursday, January 4th. The firm presently has a “hold” rating on the oil and gas company’s stock. Jefferies Group’s price objective would suggest a potential upside of 19.49% from the stock’s current price.

A number of other brokerages have also recently issued reports on RES. B. Riley cut RPC from a “buy” rating to a “neutral” rating and set a $27.00 price objective on the stock. in a report on Friday, December 22nd. Zacks Investment Research raised RPC from a “hold” rating to a “strong-buy” rating and set a $29.00 price objective on the stock in a report on Thursday, January 4th. BMO Capital Markets upped their target price on RPC from $26.00 to $29.00 and gave the stock an “outperform” rating in a research note on Friday, November 10th. Morgan Stanley lowered RPC from an “equal weight” rating to an “underweight” rating and set a $25.00 target price on the stock. in a research note on Tuesday, November 14th. They noted that the move was a valuation call. Finally, Citigroup upped their target price on RPC from $23.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, October 5th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $25.18.

Shares of RPC (RES) traded down $1.78 on Thursday, reaching $24.27. The company had a trading volume of 3,220,900 shares, compared to its average volume of 1,594,971. The stock has a market cap of $5,260.00, a PE ratio of 63.87, a price-to-earnings-growth ratio of 0.90 and a beta of 1.14. RPC has a twelve month low of $16.63 and a twelve month high of $27.07.

RPC (NYSE:RES) last issued its quarterly earnings data on Wednesday, October 25th. The oil and gas company reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.03). The company had revenue of $471.00 million for the quarter, compared to analysts’ expectations of $474.41 million. RPC had a return on equity of 10.31% and a net margin of 6.03%. The business’s revenue for the quarter was up 167.8% on a year-over-year basis. During the same period last year, the company posted ($0.18) EPS. equities analysts forecast that RPC will post 0.81 EPS for the current year.

In other news, Director Amy Rollins Kreisler acquired 5,000 shares of RPC stock in a transaction dated Friday, October 27th. The shares were purchased at an average cost of $23.21 per share, for a total transaction of $116,050.00. Following the transaction, the director now 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 is accessible through this hyperlink. 73.50% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its holdings in RPC by 7.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 6,514 shares of the oil and gas company’s stock valued at $132,000 after acquiring an additional 459 shares during the period. Pacer Advisors Inc. boosted its holdings in RPC by 12.0% during the 2nd quarter. Pacer Advisors Inc. now owns 11,360 shares of the oil and gas company’s stock valued at $230,000 after acquiring an additional 1,216 shares during the period. Advisory Services Network LLC boosted its holdings in RPC by 15.9% during the 2nd quarter. Advisory Services Network LLC now owns 13,028 shares of the oil and gas company’s stock valued at $263,000 after acquiring an additional 1,790 shares during the period. Northern Trust Corp boosted its holdings in RPC by 0.5% during the 2nd quarter. Northern Trust Corp now owns 369,609 shares of the oil and gas company’s stock valued at $7,470,000 after acquiring an additional 1,951 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in RPC by 12.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 21,424 shares of the oil and gas company’s stock valued at $433,000 after acquiring an additional 2,372 shares during the period. Institutional investors own 38.07% of the company’s stock.

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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.

Analyst Recommendations for RPC (NYSE:RES)

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