RPC (RES) is Initiated by Jefferies to Buy, Price Target at $22

RPC (RES) was Initiated by Jefferies to “Buy” and the brokerage firm has set the Price Target at $22. Jefferies advised their investors in a research report released on Nov 28, 2016.

Many Wall Street Analysts have commented on RPC. Company shares were Reiterated by FBR & Co. on Oct 27, 2016 to “Outperform”, Firm has raised the Price Target to $ 20 from a previous price target of $17 .Company shares were Upgraded by Seaport Global Securities on Oct 4, 2016 to ” Neutral”, Firm has raised the Price Target to $ 17 from a previous price target of $14 .

On the company’s financial health, RPC reported $-0.18 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Oct 26, 2016. Analyst had a consensus of $-0.21. The company had revenue of $175.90 million for the quarter, compared to analysts expectations of $160.38 million. The company’s revenue was down -39.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.16 EPS.

RPC closed down -0.13 points or -0.71% at $18.28 with 2,94,316 shares getting traded on Friday. Post opening the session at $18.24, the shares hit an intraday low of $18.17 and an intraday high of $18.4493 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Nov 17, 2016, Ben M Palmer (VP, CFO and Treasurer) sold 35,479 shares at $17.92 per share price. According to the SEC, on Jun 6, 2016, Richard A Hubbell (President and CEO) sold 100,000 shares at $15.80 per share price. On Nov 9, 2015, James A Jr Lane (director) sold 30,000 shares at $12.40 per share price, according to the Form-4 filing with the securities and exchange commission.

RPC Inc. (RPC) 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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