RPC (RES) Coverage Initiated by Analysts at Wolfe Research
Wolfe Research began coverage on shares of RPC (NYSE:RES) in a report published on Wednesday morning, Marketbeat reports. The brokerage issued an underperform rating on the oil and gas company’s stock.
Several other research analysts have also recently issued reports on the company. Citigroup reduced their price objective on RPC from $15.00 to $14.00 and set a neutral rating for the company in a research note on Friday, September 14th. SunTrust Banks cut RPC from a buy rating to a hold rating and reduced their price objective for the stock from $25.00 to $16.00 in a research note on Thursday, August 30th. Credit Suisse Group reduced their price objective on RPC from $17.00 to $15.00 and set a neutral rating for the company in a research note on Thursday, July 26th. Stifel Nicolaus started coverage on RPC in a research note on Monday, September 10th. They issued a hold rating and a $15.00 price objective for the company. Finally, Zacks Investment Research cut RPC from a hold rating to a sell rating in a research note on Tuesday, July 31st. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $19.13.
Shares of NYSE RES opened at $15.30 on Wednesday. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of 23.18, a price-to-earnings-growth ratio of 0.92 and a beta of 0.84. RPC has a fifty-two week low of $12.96 and a fifty-two week high of $27.07.
Hedge funds have recently made changes to their positions in the stock. Envestnet Asset Management Inc. raised its position in RPC by 73.6% during the first quarter. Envestnet Asset Management Inc. now owns 9,164 shares of the oil and gas company’s stock valued at $166,000 after acquiring an additional 3,885 shares in the last quarter. NumerixS Investment Technologies Inc raised its position in RPC by 101.1% during the second quarter. NumerixS Investment Technologies Inc now owns 10,861 shares of the oil and gas company’s stock valued at $159,000 after acquiring an additional 5,461 shares in the last quarter. Quantitative Systematic Strategies LLC purchased a new position in RPC during the second quarter valued at approximately $169,000. We Are One Seven LLC raised its position in RPC by 1,813.5% during the first quarter. We Are One Seven LLC now owns 11,615 shares of the oil and gas company’s stock valued at $209,000 after acquiring an additional 11,008 shares in the last quarter. Finally, Ahrens Investment Partners LLC purchased a new position in RPC during the first quarter valued at approximately $212,000. Institutional investors own 31.74% of the company’s stock.
RPC Company Profile
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.
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