Cowen Reaffirms “Hold” Rating for RPC (RES)

Cowen reiterated their hold rating on shares of RPC (NYSE:RES) in a research report sent to investors on Friday morning. Cowen currently has a $19.00 price objective on the oil and gas company’s stock.

Other equities analysts also recently issued research reports about the stock. Guggenheim set a $25.00 target price on shares of RPC and gave the company a buy rating in a research note on Monday, January 29th. BMO Capital Markets set a $23.00 target price on shares of RPC and gave the company a buy rating in a research note on Tuesday, April 10th. Stephens started coverage on shares of RPC in a research note on Tuesday, January 9th. They issued an equal weight rating and a $28.00 target price on the stock. Jefferies Group reissued a hold rating and issued a $19.00 target price on shares of RPC in a research note on Wednesday, April 4th. Finally, B. Riley downgraded shares of RPC from a buy rating to a hold rating and set a $27.00 target price on the stock. in a research note on Thursday, December 28th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. RPC presently has an average rating of Hold and an average target price of $23.50.

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Shares of RES stock opened at $18.17 on Friday. RPC has a 52 week low of $16.70 and a 52 week high of $27.07. The firm has a market capitalization of $3,989.82, a PE ratio of 27.53, a price-to-earnings-growth ratio of 0.62 and a beta of 0.83.

RPC (NYSE:RES) last issued its earnings results on Wednesday, January 24th. The oil and gas company reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.16). RPC had a net margin of 10.19% and a return on equity of 16.90%. The business had revenue of $427.30 million during the quarter, compared to analysts’ expectations of $515.04 million. During the same period in the prior year, the business posted ($0.10) EPS. The business’s revenue was up 93.3% on a year-over-year basis. sell-side analysts forecast that RPC will post 1.64 earnings per share for the current year.

RPC announced that its board has initiated a stock buyback program on Monday, February 12th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the oil and gas company to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Institutional investors have recently added to or reduced their stakes in the stock. CENTRAL TRUST Co purchased a new stake in RPC during the 4th quarter worth $147,000. State of Alaska Department of Revenue purchased a new stake in RPC during the 4th quarter worth $147,000. YorkBridge Wealth Partners LLC increased its stake in RPC by 791.2% during the 4th quarter. YorkBridge Wealth Partners LLC now owns 5,855 shares of the oil and gas company’s stock worth $115,000 after buying an additional 5,198 shares during the period. The Manufacturers Life Insurance Company increased its stake 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 worth $132,000 after buying an additional 459 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. increased its stake in RPC by 71.0% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,534 shares of the oil and gas company’s stock worth $167,000 after buying an additional 2,714 shares during the period. 35.32% of the stock is currently owned by hedge funds and other institutional investors.

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About RPC

RPC, Inc 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.

Analyst Recommendations for RPC (NYSE:RES)

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