RPC, Inc. (NYSE:RES) – Investment analysts at Gabelli boosted their FY2017 earnings estimates for shares of RPC in a report released on Thursday, according to Zacks Investment Research. Gabelli analyst S. Wong now expects that the brokerage will post earnings of ($0.05) per share for the year, up from their previous forecast of ($0.10). The consensus estimate for RPC’s FY2017 earnings is ($0.23) per share. Gabelli also issued estimates for RPC’s FY2018 earnings at $0.40 EPS, FY2019 earnings at $0.60 EPS and FY2020 earnings at $0.75 EPS.

RPC (NYSE:RES) last posted its quarterly earnings data on Wednesday, January 27th. The company reported ($0.18) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by $0.01. During the same period in the previous year, the company posted $0.36 earnings per share. The business earned $268.10 million during the quarter, compared to analysts’ expectations of $252.01 million. The firm’s revenue was down 57.6% compared to the same quarter last year.

Several other analysts also recently issued reports on the company. Seaport Global Securities increased their price target on RPC from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Friday. Morgan Stanley upgraded RPC from an “equal weight” rating to an “overweight” rating and set a $15.00 target price for the company in a research note on Thursday. Stephens lowered their target price on RPC from $11.00 to $8.00 in a research note on Thursday, January 21st. Zacks Investment Research upgraded RPC from a “sell” rating to a “hold” rating in a research note on Sunday, January 17th. Finally, SunTrust raised their target price on RPC from $11.00 to $12.00 in a research note on Wednesday, January 13th. Ten equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $13.25.

Shares of RPC (NYSE:RES) opened at 12.47 on Monday. The stock’s market capitalization is $2.66 billion. The firm’s 50-day moving average price is $11.63 and its 200 day moving average price is $11.54. RPC has a 1-year low of $8.45 and a 1-year high of $16.66.

In other news, Director James A. Lane, Jr. sold 30,000 shares of RPC stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $12.40, for a total transaction of $372,000.00. Following the sale, the director now owns 251,845 shares of the company’s stock, valued at $3,122,878. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

A number of large investors have recently made changes to their positions in the company. Beacon Capital Management purchased a new stake in shares of RPC during the fourth quarter valued at approximately $0. Assetmark purchased a new stake in shares of RPC during the third quarter valued at approximately $0. EQIS Capital Management boosted its stake in shares of RPC by 150.9% in the fourth quarter. EQIS Capital Management now owns 28,529 shares of the company’s stock valued at $341,000 after buying an additional 17,157 shares during the last quarter. Finally, Viking Fund Management purchased a new stake in shares of RPC during the fourth quarter valued at approximately $2,271,000.

RPC, Inc. (NYSE:RES) is an oilfield services holding company. The Company provides a specialized oilfield services and equipment to independent and oil and gas companies engaged in the exploration, production and development of oil and gas properties. The services and equipment provided include pressure pumping services, downhole tool services, coiled tubing services, snubbing services, nitrogen services, the rental of drill pipe and other specialized oilfield equipment, and well control. The Company’s service lines include two segments in oil and gas services business segments: Technical Services and Support Services. RPC acts as a holding company 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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