RPC (NYSE:RES) Given “Neutral” Rating At Credit Suisse, Is a Move on The Horizon?


How Credit Suisse Currently Rates RPC (NYSE:RES)

In recent note revealed to investors and clients today, Credit Suisse analysts have begun RPC (NYSE:RES) coverage with “Neutral” rating.

From a total of 13 analysts covering RPC (NYSE:RES) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $16 while the lowest target price is $9. The mean of all analyst targets is $12.83 with a -9.78% below today’s ($12.06) stock price. RPC was the topic of 11 analyst reports since August 14, 2015 according to the firm StockzIntelligence Inc. Citigroup maintained shares on October 5 with “Neutral” rating. FBR Capital maintained RES stock in a recent report from September 21 with “Market Perform” rating. Finally, SunTrust downgraded the stock to “Neutral” rating in a report issued on an August 24.

Approximately 160,366 shares of stock traded hands. RPC, Inc. (NYSE:RES) has declined 16.51% since May 18, 2015 and is downtrending. It has underperformed by 10.70% the S&P500.

The overall sentiment of institutions has decreased to 1.1 in Q2 2015. Its down 0.12, from 1.22 in 2015Q2. The ratio fall, as 38 institutions have sold all the shares of RPC, Inc. that they owned while 48 funds have taken shares off the table. 32 funds have purchased shares for the first time while 63 added to their positions. These institutions now hold 60.60 million shares or 11.43% more than the 54.38 million shares they owned in 2015Q2.

The Fund Tbp Investments Management Llc currently is holding shares equating to 5.47% of its total portfolio in RPC, Inc. representing a total of 229,228 shares. Another fund,National Investment Services Inc Wi, is holding a total of 138,525 shares equating to 1.45% of their holdings. Additionally, Mraz Amerine & Associates Inc. has a 404,267 share stake in RPC, Inc. which represents 1.42% of their total portfolio. The Fund, Energy Opportunities Capital Management Llc, based out of Texas, has also built up a stake in the stock, which represents a total of 0.95% of their total portfolio. Finally Corecommodity Management Llc, a fund which is based in the state of Connecticut reported a total holdings of 109,088 shares.

RPC, Inc. is an oilfield services holding company. The company has a market cap of $2.64 billion. The Firm provides a specialized oilfield services and equipment to independent and gas and oil companies engaged in the exploration, production and development of gas and oil properties. It has 166.78 P/E ratio. 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.

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.”