RPC, Inc. (NYSE:RES) was upgraded by investment analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a note issued to investors on Thursday, The Fly reports. The brokerage currently has a $15.00 target price on the stock. Morgan Stanley’s target price points to a potential upside of 24.48% from the company’s current price.

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

RES has been the subject of a number of other reports. Oppenheimer reduced their price target on shares of RPC from $12.00 to $11.00 and set a “market perform” rating for the company in a research note on Thursday, January 7th. Zacks Investment Research upgraded shares of RPC from a “sell” rating to a “hold” rating in a research note on Sunday, January 17th. FBR & Co. upgraded shares of RPC from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $11.00 to $15.00 in a research note on Wednesday, January 6th. Citigroup Inc. reiterated a “hold” rating and issued a $10.00 price target on shares of RPC in a research note on Monday, October 5th. Finally, Seaport Global Securities reduced their price target on shares of RPC from $14.00 to $12.00 in a research note on Thursday, October 29th. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $13.25.

RPC (NYSE:RES) traded down 3.37% on Thursday, reaching $12.05. 2,460,102 shares of the company’s stock traded hands. The stock’s market cap is $2.57 billion. The company’s 50 day moving average is $11.63 and its 200-day moving average is $11.54. RPC has a 52-week low of $8.45 and a 52-week high of $16.66.

RPC (NYSE:RES) last announced its quarterly earnings results on Wednesday, January 27th. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by $0.01. The firm had revenue of $268.10 million for the quarter, compared to analysts’ expectations of $252.01 million. During the same period in the previous year, the company earned $0.36 EPS. The firm’s revenue for the quarter was down 57.6% on a year-over-year basis. Equities analysts expect that RPC will post ($0.61) EPS for the current year.

A number of institutional investors have recently modified their holdings of the stock. Viking Fund Management purchased a new position in shares of RPC during the fourth quarter valued at $2,271,000. EQIS Capital Management increased its position 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 in the last quarter. California State Teachers Retirement System increased its position in shares of RPC by 1.9% in the fourth quarter. California State Teachers Retirement System now owns 109,484 shares of the company’s stock valued at $1,308,000 after buying an additional 2,011 shares in the last quarter. Assetmark purchased a new position in shares of RPC during the third quarter valued at $0. Finally, Beacon Capital Management purchased a new position in shares of RPC during the fourth quarter valued at $0.

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.

12 Month Chart for NYSE:RES

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