Rating Summary: Is It Finally Time? Jefferies & Co Starts Coverage On RPC Inc (NYSE:RES) with $22.00 Price Target

November 28, 2016 - By Richard Conner

Rating Summary: Is It Finally Time? Jefferies & Co Starts Coverage On RPC Inc (NYSE:RES) with $22.00 Price Target

Why Jefferies & Co Gives RPC Inc (NYSE:RES) $22.00 Price Target

Jefferies & Co analyst has begun coverage on RPC Inc (NYSE:RES) with a $22.00 price target and Buy rating. The price target would suggest a potential upside of 20.48% from firm’s last close price.

RPC, Inc. (NYSE:RES) Ratings Coverage

Out of 13 analysts covering RPC (NYSE:RES), 5 rate it a “Buy”, 1 “Sell”, while 7 “Hold”. This means 38% are positive. $20 is the highest target while $8 is the lowest. The $14.38 average target is -21.16% below today’s ($18.24) stock price. RPC has been the topic of 32 analyst reports since August 14, 2015 according to StockzIntelligence Inc. On Thursday, March 17 the stock rating was downgraded by Morgan Stanley to “Equal-Weight”. The stock of RPC, Inc. (NYSE:RES) earned “Outperform” rating by FBR Capital on Wednesday, January 6. The rating was downgraded by Wells Fargo on Tuesday, September 1 to “Market Perform”. Citigroup maintained RPC, Inc. (NYSE:RES) on Friday, August 14 with “Neutral” rating. The firm has “Neutral” rating given on Friday, January 8 by Macquarie Research. The stock of RPC, Inc. (NYSE:RES) earned “Outperform” rating by FBR Capital on Monday, March 7. The stock of RPC, Inc. (NYSE:RES) has “Outperform” rating given on Thursday, April 28 by Cowen & Co. The company was maintained on Wednesday, July 13 by Citigroup. Guggenheim initiated RPC, Inc. (NYSE:RES) on Tuesday, December 22 with “Buy” rating. The firm has “Market Perform” rating given on Monday, September 21 by FBR Capital.

About 852,143 shares traded hands. RPC, Inc. (NYSE:RES) has risen 28.46% since April 25, 2016 and is uptrending. It has outperformed by 22.45% the S&P500.

Analysts await RPC, Inc. (NYSE:RES) to report earnings on January, 25. They expect $-0.14 EPS, up 22.22% or $0.04 from last year’s $-0.18 per share. After $-0.18 actual EPS reported by RPC, Inc. for the previous quarter, Wall Street now forecasts -22.22% EPS growth.

Insitutional Activity: The institutional sentiment increased to 1.13 in Q2 2016. Its up 0.12, from 1.01 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.

Lucus Advisors Ltd Company has 22,660 shares for 0.29% of their US portfolio. Goldman Sachs has 164,264 shares for 0% of their US portfolio. National Bank & Trust Of Montreal Can, a Ontario – Canada-based fund reported 102,173 shares. Hussman Strategic Advsr has 650,000 shares for 1.54% of their US portfolio. Morgan Stanley has 47,146 shares for 0% of their US portfolio. Invesco Ltd accumulated 0% or 447,619 shares. Pioneer Inv Inc last reported 274,683 shares in the company. Granahan Inv Mgmt Incorporated Ma accumulated 300,250 shares or 0.17% of the stock. Moreover, Fin Serv has 0% invested in RPC, Inc. (NYSE:RES) for 98 shares. Blackrock Advsr last reported 0% of its portfolio in the stock. Moreover, Alphaone Invest Svcs Limited has 1.1% invested in RPC, Inc. (NYSE:RES) for 191,690 shares. Ghp Invest Advsr Inc accumulated 30,007 shares or 0.1% of the stock. Blackrock Japan Ltd accumulated 0% or 19,790 shares. Indexiq Advisors Lc has 2,322 shares for 0% of their US portfolio. Eqis has 0.03% invested in the company for 26,788 shares.

Insider Transactions: Since June 6, 2016, the stock had 0 insider buys, and 2 sales for $2.21 million net activity. 100,000 shares were sold by HUBBELL RICHARD A, worth $1.58 million. PALMER BEN M sold $635,058 worth of stock.

RPC, Inc. is a holding company for several oilfield services companies. The company has a market cap of $3.94 billion. The Firm provides a range of specialized oilfield services and equipment to 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. It currently has negative earnings. It operates through two divisions: Technical Services and Support Services.

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.”

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.

Another recent and important RPC, Inc. (NYSE:RES) news was published by Nasdaq.com which published an article titled: “RPC, Inc. (RES) Ex-Dividend Date Scheduled for November 08, 2016” on November 07, 2016.

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