Credit Suisse Group Lowers RPC, Inc. (RES) to Neutral

Credit Suisse Group downgraded shares of RPC, Inc. (NYSE:RES) from an outperform rating to a neutral rating in a research report sent to investors on Friday morning, MarketBeat.com reports. The analysts noted that the move was a valuation call.

RES has been the subject of a number of other research reports. Barclays PLC initiated coverage on shares of RPC in a research note on Tuesday, September 5th. They set an equal weight rating and a $19.00 price target for the company. Jefferies Group LLC set a $26.00 price target on shares of RPC and gave the stock a buy rating in a research note on Monday, August 28th. Deutsche Bank AG initiated coverage on shares of RPC in a research note on Tuesday, October 10th. They set a hold rating and a $25.00 price target for the company. Morgan Stanley cut their price target on shares of RPC from $24.00 to $23.00 and set an equal weight rating for the company in a research note on Wednesday, June 21st. Finally, Cowen and Company restated a hold rating and set a $24.00 price target on shares of RPC in a research note on Friday, September 1st. Fourteen analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. RPC presently has an average rating of Hold and a consensus price target of $23.36.

RPC (NYSE:RES) traded up 1.49% during trading on Friday, hitting $23.11. The stock had a trading volume of 194,259 shares. RPC has a 52 week low of $16.48 and a 52 week high of $25.00. The stock has a 50-day moving average price of $22.36 and a 200-day moving average price of $20.14. The company’s market cap is $5.02 billion.

RPC (NYSE:RES) last announced its quarterly earnings results on Wednesday, July 26th. The oil and gas company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. The firm had revenue of $399.00 million during the quarter, compared to analysts’ expectations of $415.65 million. RPC had a negative net margin of 1.15% and a negative return on equity of 1.74%. The company’s revenue for the quarter was up 179.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.23) earnings per share. Equities analysts predict that RPC will post $0.82 EPS for the current year.

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Several large investors have recently bought and sold shares of RES. Alliancebernstein L.P. increased its holdings in shares of RPC by 58.4% in the second quarter. Alliancebernstein L.P. now owns 9,040,717 shares of the oil and gas company’s stock valued at $182,713,000 after purchasing an additional 3,333,619 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of RPC by 20.4% in the second quarter. Vanguard Group Inc. now owns 6,076,306 shares of the oil and gas company’s stock valued at $122,802,000 after purchasing an additional 1,028,001 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of RPC by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 2,167,567 shares of the oil and gas company’s stock valued at $43,807,000 after purchasing an additional 16,785 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of RPC by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,526,110 shares of the oil and gas company’s stock valued at $27,941,000 after purchasing an additional 8,416 shares in the last quarter. Finally, Pioneer Investment Management Inc. increased its holdings in shares of RPC by 5.4% in the second quarter. Pioneer Investment Management Inc. now owns 1,371,401 shares of the oil and gas company’s stock valued at $27,716,000 after purchasing an additional 70,175 shares in t

RES has been the subject of a number of other research reports. Barclays PLC initiated coverage on shares of RPC in a research note on Tuesday, September 5th. They set an equal weight rating and a $19.00 price target for the company. Jefferies Group LLC set a $26.00 price target on shares of RPC and gave the stock a buy rating in a research note on Monday, August 28th. Deutsche Bank AG initiated coverage on shares of RPC in a research note on Tuesday, October 10th. They set a hold rating and a $25.00 price target for the company. Morgan Stanley cut their price target on shares of RPC from $24.00 to $23.00 and set an equal weight rating for the company in a research note on Wednesday, June 21st. Finally, Cowen and Company restated a hold rating and set a $24.00 price target on shares of RPC in a research note on Friday, September 1st. Fourteen analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. RPC presently has an average rating of Hold and a consensus price target of $23.36.

RPC (NYSE:RES) traded up 1.49% during trading on Friday, hitting $23.11. The stock had a trading volume of 194,259 shares. RPC has a 52 week low of $16.48 and a 52 week high of $25.00. The stock has a 50-day moving average price of $22.36 and a 200-day moving average price of $20.14. The company’s market cap is $5.02 billion.

RPC (NYSE:RES) last announced its quarterly earnings results on Wednesday, July 26th. The oil and gas company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. The firm had revenue of $399.00 million during the quarter, compared to analysts’ expectations of $415.65 million. RPC had a negative net margin of 1.15% and a negative return on equity of 1.74%. The company’s revenue for the quarter was up 179.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.23) earnings per share. Equities analysts predict that RPC will post $0.82 EPS for the current year.

ILLEGAL ACTIVITY NOTICE: This piece of content was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece of content on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark law. The correct version of this piece of content can be accessed at https://ledgergazette.com/2017/10/16/credit-suisse-group-lowers-rpc-inc-res-to-neutral.html.

Several large investors have recently bought and sold shares of RES. Alliancebernstein L.P. increased its holdings in shares of RPC by 58.4% in the second quarter. Alliancebernstein L.P. now owns 9,040,717 shares of the oil and gas company’s stock valued at $182,713,000 after purchasing an additional 3,333,619 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of RPC by 20.4% in the second quarter. Vanguard Group Inc. now owns 6,076,306 shares of the oil and gas company’s stock valued at $122,802,000 after purchasing an additional 1,028,001 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of RPC by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 2,167,567 shares of the oil and gas company’s stock valued at $43,807,000 after purchasing an additional 16,785 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of RPC by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,526,110 shares of the oil and gas company’s stock valued at $27,941,000 after purchasing an additional 8,416 shares in the last quarter. Finally, Pioneer Investment Management Inc. increased its holdings in shares of RPC by 5.4% in the second quarter. Pioneer Investment Management Inc. now owns 1,371,401 shares of the oil and gas company’s stock valued at $27,716,000 after purchasing an additional 70,175 shares in the last quarter. Institutional investors own 38.21% of the company’s stock.

RPC Company Profile

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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