Barclays Maintains Their Sell Rating on RPC Inc (RES)
Barclays analyst David Anderson maintained a Sell rating on RPC Inc (RES) today and set a price target of $5.00. The company’s shares closed last Monday at $5.41, close to its 52-week low of $4.88.
According to TipRanks.com, Anderson ‘s ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -6.5% and a 33.7% success rate. Anderson covers the Basic Materials sector, focusing on stocks such as Covia Holdings Corporation, Diamond Offshore Drilling, and Mammoth Energy Services.
RPC Inc has an analyst consensus of Moderate Sell, with a price target consensus of $6.03, implying an 11.5% upside from current levels. In a report issued on September 23, Citigroup also maintained a Sell rating on the stock with a $5.00 price target.
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Based on RPC Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $6.06 million. In comparison, last year the company had a net profit of $49.44 million.
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RPC, Inc. is an oil and gas services company, which engages in the exploration, production, and development of oil and gas properties. It operates through the following segments: Technical Services and Support Services.