RPC Inc (RES) Gets a Sell Rating from Barclays

Barclays analyst David Anderson maintained a Sell rating on RPC Inc (RES) yesterday and set a price target of $4.00. The company’s shares closed last Monday at $4.63, close to its 52-week low of $4.32.

According to TipRanks.com, Anderson has 0 stars on 0-5 star ranking scale with an average return of -6.7% and a 35.0% success rate. Anderson covers the Basic Materials sector, focusing on stocks such as Ranger Energy Services Inc, Covia Holdings Corporation, and Diamond Offshore Drilling.

The word on The Street in general, suggests a Hold analyst consensus rating for RPC Inc with a $5.64 average price target, which is a 29.1% upside from current levels. In a report issued on October 9, Citigroup also maintained a Sell rating on the stock with a $4.80 price target.

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Based on RPC Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $69.18 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.

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