The stock of RPC, Inc. (NYSE:RES) hit a new 52-week high and has $26.76 target or 59.00% above today’s $16.83 share price. The 8 months bullish chart indicates low risk for the $3.74 billion company. The 1-year high was reported on Oct, 3 by Barchart.com. If the $26.76 price target is reached, the company will be worth $2.21B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 166,730 shares traded hands. RPC, Inc. (NYSE:RES) has risen 23.80% since February 29, 2016 and is uptrending. It has outperformed by 11.59% the S&P500.
Analysts await RPC, Inc. (NYSE:RES) to report earnings on October, 26. They expect $-0.22 earnings per share, down 37.50% or $0.06 from last year’s $-0.16 per share. After $-0.23 actual earnings per share reported by RPC, Inc. for the previous quarter, Wall Street now forecasts -4.35% EPS growth.
RPC, Inc. (NYSE:RES) Ratings Coverage
Out of 12 analysts covering RPC (NYSE:RES), 5 rate it a “Buy”, 1 “Sell”, while 6 “Hold”. This means 42% are positive. RPC has been the topic of 30 analyst reports since August 14, 2015 according to StockzIntelligence Inc. The stock of RPC, Inc. (NYSE:RES) earned “Perform” rating by Oppenheimer on Thursday, October 1. The firm earned “Buy” rating on Tuesday, December 22 by Guggenheim. As per Thursday, March 17, the company rating was downgraded by Morgan Stanley. Citigroup maintained it with “Neutral” rating and $15 target price in Friday, March 18 report. The stock of RPC, Inc. (NYSE:RES) has “Outperform” rating given on Thursday, April 28 by Cowen & Co. On Friday, August 14 the stock rating was maintained by Citigroup with “Neutral”. The firm has “Outperform” rating given on Monday, January 11 by Wells Fargo. SunTrust downgraded the stock to “Neutral” rating in Monday, August 24 report. As per Tuesday, September 1, the company rating was downgraded by Wells Fargo. Citigroup maintained RPC, Inc. (NYSE:RES) on Wednesday, July 13 with “Neutral” rating.
According to Zacks Investment Research, “RPC, Inc. provides a broad range of specialized oilfield services and equipment primarily to independent and major oilfield companies engaged in the exploration, production and development of oil and gas properties. It operates its business through two business segments- Technical Services and Support Services. Services and products offered by the Company include Cudd Pumping, Coiled Tubing, Snubbing, Nitrogen Units, Thru Tubing Solutions, Wireline, Fluid Pumps, Well Control, Production Rental Tools, Patterson Rental Tools, Patterson Tubular Services and Well Control School. The Company’s products and services can be found throughout the United States, including the Gulf of Mexico, mid-continent, southwest, Appalachian and Rocky Mountain regions, and in selected international markets. RPC, Inc. is headquartered in Atlanta, Georgia.”
Insitutional Activity: The institutional sentiment increased to 1.01 in 2016 Q2. Its up 0.12, from 0.89 in 2016Q1. The ratio increased, as 27 funds sold all RPC, Inc. shares owned while 51 reduced positions. 19 funds bought stakes while 60 increased positions. They now own 75.44 million shares or 0.14% less from 75.55 million shares in 2016Q1.
The Illinois-based Northern Trust Corp has invested 0% in RPC, Inc. (NYSE:RES). Viking Fund Management Ltd Company last reported 900,000 shares in the company. Bokf Na accumulated 56,784 shares or 0.03% of the stock. Moreover, Teacher Retirement System Of Texas has 0% invested in RPC, Inc. (NYSE:RES) for 9,093 shares. Morgan Dempsey Cap Ltd has invested 0.62% of its portfolio in RPC, Inc. (NYSE:RES). Federated Pa holds 0% of its portfolio in RPC, Inc. (NYSE:RES) for 16,885 shares. Blackrock Management Lc has invested 0% of its portfolio in RPC, Inc. (NYSE:RES). Oz Limited Partnership reported 15,200 shares or 0% of all its holdings. Moreover, California State Teachers Retirement Sys has 0% invested in RPC, Inc. (NYSE:RES) for 126,697 shares. Cubist Systematic Strategies Llc accumulated 16,400 shares or 0.01% of the stock. Gabelli Funds Ltd Limited Liability Company, a New York-based fund reported 3.11M shares. Franklin Res, a California-based fund reported 247,100 shares. Indexiq has 0% invested in the company for 2,322 shares. Ngam Advisors Lp reported 106,775 shares or 0.02% of all its holdings. Point72 Asset Mgmt Limited Partnership last reported 0.02% of its portfolio in the stock.
Insider Transactions: Since June 6, 2016, the stock had 0 insider buys, and 1 insider sale for $1.58 million net activity. $1.58M worth of RPC, Inc. (NYSE:RES) was sold by HUBBELL RICHARD A on Monday, June 6.
More news for RPC, Inc. (NYSE:RES) were recently published by: Prnewswire.com, which released: “RPC, Inc. to Present at Johnson Rice 2016 Energy Conference” on September 16, 2016. Prnewswire.com‘s article titled: “RPC, Inc. to Present at Barclays CEO Energy-Power Conference” and published on April 15, 2016 is yet another important article.
RES Company Profile
RPC, Inc. (RPC), incorporated on January 20, 1984, is a holding firm for several oilfield services companies. The Firm provides a range of specialized oilfield services and equipment to independent and gas and oil companies engaged in the exploration, production and development of gas and oil properties across the United States, including the southwest, mid-continent, Gulf of Mexico, Rocky Mountain and Appalachian regions, and in selected international markets. The Firm operates through two divisions: Technical Services and Support Services. RPC acts as a holding firm for its operating units, Cudd Energy Services, Patterson Rental and Fishing Tools, Bronco Oilfield Services, Thru Tubing Solutions, Well Control School and others.
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