Cowen & Co. Keeps Their Hold Rating on RPC Inc

By Ryan Adsit

Cowen & Co. analyst Marc Bianchi reiterated a Hold rating on RPC Inc (NYSE: RES) yesterday and set a price target of $28. The company’s shares closed yesterday at $25.26.

According to, Bianchi is ranked 0 out of 5 stars with an average return of -5.2% and a 40.5% success rate. Bianchi covers the Basic Materials sector, focusing on stocks such as Independence Contract Drilling, Baker Hughes a GE company, and Diamond Offshore Drilling.

Currently, the analyst consensus on RPC Inc is Hold and the average price target is $26, representing a 2.9% upside.

In a report issued on January 4, Jefferies also reiterated a Hold rating on the stock with a $29 price target.

Based on RPC Inc’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $471 million and quarterly net profit of $56.6 million. In comparison, last year the company earned revenue of $221 million and had a GAAP net loss of $21.25 million.

Based on the recent corporate insider activity of 18 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RES in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

RPC, Inc. is an oil and gas services company. It is engaged in the exploration, production and development of oil and gas properties. The company operates through the following business segments: Technical Services and Support Services.