RPC (NYSE:RES) was downgraded by analysts at Guggenheim from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The analysts noted that the move was a valuation call.

Several other research firms also recently commented on RES. Stephens started coverage on shares of RPC in a research report on Tuesday, January 9th. They issued an “equal weight” rating and a $28.00 target price for the company. Wells Fargo reissued a “market perform” rating on shares of RPC in a research report on Friday, January 12th. Cowen reissued a “hold” rating and issued a $19.00 target price on shares of RPC in a research report on Friday, April 13th. B. Riley downgraded shares of RPC from a “buy” rating to a “hold” rating and set a $27.00 target price for the company. in a research report on Thursday, December 28th. Finally, Jefferies Group set a $29.00 target price on shares of RPC and gave the stock a “hold” rating in a research report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $23.26.

RES stock opened at $17.99 on Thursday. The company has a market capitalization of $3,868.39, a price-to-earnings ratio of 19.82, a price-to-earnings-growth ratio of 0.67 and a beta of 0.83. RPC has a 12 month low of $16.70 and a 12 month high of $27.07.

RPC (NYSE:RES) last posted its earnings results on Wednesday, April 25th. The oil and gas company reported $0.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.04). The business had revenue of $436.33 million during the quarter, compared to the consensus estimate of $461.47 million. RPC had a return on equity of 22.26% and a net margin of 12.17%. The business’s revenue was up 46.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.02 earnings per share. sell-side analysts predict that RPC will post 1.47 EPS for the current fiscal year.

RPC announced that its Board of Directors has authorized a share buyback program on Monday, February 12th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the oil and gas company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of RPC by 3.8% in the fourth quarter. BlackRock Inc. now owns 3,022,697 shares of the oil and gas company’s stock worth $77,170,000 after buying an additional 111,534 shares during the last quarter. Mackenzie Financial Corp raised its stake in RPC by 25.1% during the 4th quarter. Mackenzie Financial Corp now owns 2,038,483 shares of the oil and gas company’s stock valued at $52,042,000 after purchasing an additional 408,900 shares during the last quarter. Copper Rock Capital Partners LLC raised its stake in RPC by 3.6% during the 4th quarter. Copper Rock Capital Partners LLC now owns 1,645,244 shares of the oil and gas company’s stock valued at $41,855,000 after purchasing an additional 57,072 shares during the last quarter. Deutsche Bank AG raised its stake in RPC by 5.8% during the 4th quarter. Deutsche Bank AG now owns 1,231,283 shares of the oil and gas company’s stock valued at $31,433,000 after purchasing an additional 67,295 shares during the last quarter. Finally, OppenheimerFunds Inc. raised its stake in RPC by 3.2% during the 4th quarter. OppenheimerFunds Inc. now owns 1,084,270 shares of the oil and gas company’s stock valued at $27,681,000 after purchasing an additional 33,150 shares during the last quarter. Institutional investors and hedge funds own 34.36% of the company’s stock.

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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