RPC (NYSE:RES) rating rises to C at TheStreet

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PRC (NYSE: RES) was upgraded by TheStreet research analysts from a “d+” rating to a “c” rating in a report released Wednesday, reports TheStreetRatingsTable.

RPC shares opened at $5.97 on Wednesday. The stock’s fifty-day moving average is $4.90 and its two-hundred-day moving average is $4.67. The company has a market capitalization of $1.29 billion, a PE ratio of -74.63 and a beta of 2.00. RPC has a 52-week low of $3.33 and a 52-week high of $7.43.

RPC (NYSE:RES) last reported quarterly earnings data on Wednesday, January 26. The oil and gas company reported EPS of $0.06 for the quarter, beating Thomson Reuters consensus estimate of $0.03 by $0.03. The company posted revenue of $268.30 million for the quarter, versus a consensus estimate of $240.32 million. RPC posted a negative return on equity of 1.91% and a negative net margin of 2.06%. RPC’s quarterly revenue increased 80.6% year over year. In the same quarter of the previous year, the company posted EPS of ($0.03).

In related news, director Gary W. Rollins sold 40,000 shares of the company in a trade on Thursday, December 2. The stock was sold at an average price of $4.00, for a total transaction of $160,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, Chief Financial Officer Ben M. Palmer sold 14,407 shares of the company in a transaction on Monday, November 1. The stock was sold at an average price of $5.46, for a total value of $78,662.22. The disclosure of this sale can be found here. Insiders sold a total of 1,439,407 shares of the company worth $6,886,412 during the last quarter. Insiders of the company hold 69.00% of the shares of the company.

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Hedge funds and other institutional investors have recently changed their stock holdings. Marshall Wace North America LP acquired a new position in RPC during Q1 worth approximately $25,000. Royal Bank of Canada increased its position in RPC by 594.9% during the second quarter. Royal Bank of Canada now owns 5,754 shares of the oil and gas company valued at $28,000 after buying 4,926 more shares last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its equity stake in RPC by 45.9% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 8,463 shares of the oil and gas company valued at $41,000 after purchasing 2,663 additional shares during the period. Teacher Retirement System of Texas acquired a new position in RPC stock in the third quarter worth approximately $51,000. Finally, Marshall Wace LLP acquired a new position in RPC shares in the second quarter worth approximately $62,000. Hedge funds and other institutional investors hold 27.15% of the company’s shares.

RPC Company Profile

RPC, Inc engages in the exploration, production and development of oil and gas properties. It operates through the following segments: Technical Services and Support Services. The Technical Services segment provides oil and gas, fracturing, souring, coiled tubing, dampening, nitrogen, well control, cable and fishing services.

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