Rating To Observe: RPC (NYSE:RES) Is Reaching An Inflection Point; Jefferies Starts At “Buy” with $22.0 target

November 28, 2016 - By Peter Erickson

Rating To Observe: RPC (NYSE:RES) Is Reaching An Inflection Point; Jefferies Starts At

Why Jefferies Gives RPC (NYSE:RES) $22.0 Price Target

Jefferies revealed to investors in an analyst report that it has started coverage on RPC (NYSE:RES) stock, with a “Buy” rating and a $22.0 target.

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 -21.98% below today’s ($18.43) stock price. RPC has been the topic of 32 analyst reports since August 14, 2015 according to StockzIntelligence Inc. Cowen & Co maintained it with “Outperform” rating and $17 target price in Thursday, April 28 report. The stock of RPC, Inc. (NYSE:RES) earned “Reduce” rating by Seaport Global on Tuesday, April 19. The stock of RPC, Inc. (NYSE:RES) has “Buy” rating given on Tuesday, January 12 by Tudor Pickering. The firm earned “Outperform” rating on Thursday, October 27 by FBR Capital. The firm has “Market Perform” rating given on Tuesday, September 1 by Wells Fargo. SunTrust downgraded the shares of RES in a report on Monday, August 24 to “Neutral” rating. The rating was upgraded by FBR Capital on Wednesday, January 6 to “Outperform”. The stock of RPC, Inc. (NYSE:RES) earned “Neutral” rating by Citigroup on Friday, August 14. The firm has “Neutral” rating by Macquarie Research given on Friday, January 8. The firm has “Equal-Weight” rating by Morgan Stanley given on Thursday, March 17.

About 101,731 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 earnings per share, up 22.22% or $0.04 from last year’s $-0.18 per share. After $-0.18 actual earnings per share 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 2016 Q2. Its up 0.12, from 1.01 in 2016Q1. The ratio is positive, 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.

Geode Capital Mngmt Limited Liability Com last reported 0% of its portfolio in the stock. Morgan Stanley reported 47,146 shares or 0% of all its holdings. Jpmorgan Chase And Com holds 0% or 2,360 shares in its portfolio. Huntington Savings Bank holds 8,402 shares or 0% of its portfolio. Cap Fund accumulated 0.01% or 75,400 shares. Acadian Asset Mgmt Ltd Limited Liability Company has invested 0% of its portfolio in RPC, Inc. (NYSE:RES). Parametric Associates Limited Liability has 0% invested in the company for 153,607 shares. First Quadrant L P Ca holds 0% or 3,475 shares in its portfolio. Blackrock Grp Ltd last reported 0% of its portfolio in the stock. Wellington Management Grp Limited Liability Partnership holds 0% of its portfolio in RPC, Inc. (NYSE:RES) for 24,553 shares. Next Gru has invested 0% of its portfolio in RPC, Inc. (NYSE:RES). Castleark Management Ltd Liability Com has 0.04% invested in the company for 74,600 shares. Teton Advsrs, a New York-based fund reported 92,500 shares. Blackrock Institutional Na accumulated 0% or 1.52M shares. Zurcher Kantonalbank (Zurich Cantonalbank) holds 0% of its portfolio in RPC, Inc. (NYSE:RES) for 1,702 shares.

Insider Transactions: Since June 6, 2016, the stock had 0 buys, and 2 sales for $2.21 million net activity. Shares for $1.58M were sold by HUBBELL RICHARD A on Monday, June 6. PALMER BEN M also sold $635,058 worth of RPC, Inc. (NYSE:RES) on Tuesday, November 15.

RPC, Inc. is a holding company for several oilfield services companies. The company has a market cap of $3.98 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.

More recent RPC, Inc. (NYSE:RES) news were published by: Prnewswire.com which released: “RPC, Inc. Announces Year-End Cash Dividend” on October 26, 2016. Also Prnewswire.com published the news titled: “Amy Rollins Kreisler Appointed to the RPC, Inc. Board of Directors” on October 25, 2016. Nasdaq.com‘s news article titled: “RPC, Inc. (RES) Ex-Dividend Date Scheduled for November 08, 2016” with publication date: November 07, 2016 was also an interesting one.

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