Breaking News

Over a week ago
Show Full Stories

X

To view all stories in expanded form, please subscribe.
Send Info
Recommendations
RPC, Inc. price target raised to $3.50 from $3 at Citi » 06:30
02/17/21
02/17
06:30
02/17/21
06:30
RES

RPC, Inc.

$4.99 /

+0.15 (+3.10%)

Citi analyst Scott Gruber…

Citi analyst Scott Gruber raised the firm's price target on RPC, Inc. to $3.50 from $3 and keeps a Sell rating on the shares. The analyst increased EBITDA forecasts in 2021 and 2022 on the higher exit point in Q4, but remains at Sell due to valuation.

ShowHide Related Items >><<
RES RPC, Inc.
$4.99 /

+0.15 (+3.10%)

12/24/20 Piper Sandler
RPC, Inc. price target raised to $3.25 from $3.10 at Piper Sandler
12/15/20 Citi
RPC, Inc. price target raised to $3 from $2.20 at Citi
11/10/20
Fly Intel: Top five analyst downgrades
11/10/20 Morgan Stanley
Morgan Stanley downgrades Oil Field Services industry view to In-Line
RES RPC, Inc.
$4.99 /

+0.15 (+3.10%)

Over a month ago
Earnings
RPC, Inc. reports Q4 adjusted EPS (3c), consensus (8c) » 06:56
01/27/21
01/27
06:56
01/27/21
06:56
RES

RPC, Inc.

$3.88 /

+0.06 (+1.57%)

Reports Q4 revenue…

Reports Q4 revenue $148.64M, consensus $120.79M. The average U.S. domestic rig count during Q4 was 311, a 62.1% decrease compared to the same period in 2019, but a 22.4% increase compared to Q3. The average price of oil during Q4 was $42.62 per barrel, a 24.9% decrease compared to the same period in 2019, but a 4.4% increase compared to Q3. The average price of natural gas during the fourth quarter was $2.50 per Mcf, a 3.7% increase compared to the same period in 2019, and a 25% increase compared to Q3. "Our fourth quarter activity levels improved sequentially for the first time since 2016, consistent with several key oilfield metrics," stated Richard Hubbell, RPC's president and CEO. "The holiday slowdown this year was less pronounced as customers emphasized completing drilled but uncompleted wells before the end of the year.

ShowHide Related Items >><<
RES RPC, Inc.
$3.88 /

+0.06 (+1.57%)

12/24/20 Piper Sandler
RPC, Inc. price target raised to $3.25 from $3.10 at Piper Sandler
12/15/20 Citi
RPC, Inc. price target raised to $3 from $2.20 at Citi
11/10/20
Fly Intel: Top five analyst downgrades
11/10/20 Morgan Stanley
Morgan Stanley downgrades Oil Field Services industry view to In-Line
RES RPC, Inc.
$3.88 /

+0.06 (+1.57%)

Recommendations
RPC, Inc. price target raised to $3.25 from $3.10 at Piper Sandler » 06:06
12/24/20
12/24
06:06
12/24/20
06:06
RES

RPC, Inc.

$3.26 /

+0.085 (+2.68%)

Piper Sandler analyst Ian…

Piper Sandler analyst Ian Macpherson raised the firm's price target on RPC, Inc. to $3.25 from $3.10 and keeps a Neutral rating on the shares. With Q4 completions momentum "tracking positively," the analyst nudged up estimates for the pressure pumpers. However, the analyst sees group valuations as "fair-to-full" on 2022 estimates.

ShowHide Related Items >><<
RES RPC, Inc.
$3.26 /

+0.085 (+2.68%)

12/15/20 Citi
RPC, Inc. price target raised to $3 from $2.20 at Citi
11/10/20
Fly Intel: Top five analyst downgrades
11/10/20 Morgan Stanley
Morgan Stanley downgrades Oil Field Services industry view to In-Line
11/10/20 Morgan Stanley
RPC, Inc. downgraded to Underweight at Morgan Stanley
RES RPC, Inc.
$3.26 /

+0.085 (+2.68%)

Recommendations
RPC, Inc. price target raised to $3 from $2.20 at Citi » 06:54
12/15/20
12/15
06:54
12/15/20
06:54
RES

RPC, Inc.

$3.62 /

-0.23 (-5.98%)

Citi analyst Scott Gruber…

Citi analyst Scott Gruber raised the firm's price target on RPC, Inc. to $3 from $2.20 and keeps a Sell rating on the shares.

ShowHide Related Items >><<
RES RPC, Inc.
$3.62 /

-0.23 (-5.98%)

11/10/20
Fly Intel: Top five analyst downgrades
11/10/20 Morgan Stanley
Morgan Stanley downgrades Oil Field Services industry view to In-Line
11/10/20 Morgan Stanley
RPC, Inc. downgraded to Underweight at Morgan Stanley
11/10/20 Morgan Stanley
RPC, Inc. downgraded to Underweight from Equal Weight at Morgan Stanley
RES RPC, Inc.
$3.62 /

-0.23 (-5.98%)

Over a quarter ago
Downgrade
Fly Intel: Top five analyst downgrades » 09:53
11/10/20
11/10
09:53
11/10/20
09:53
RL

Ralph Lauren

$81.65 /

-0.03 (-0.04%)

, BLDP

Ballard Power

$15.92 /

-0.24 (-1.49%)

, VYGR

Voyager Therapeutics

$9.50 /

-1.7 (-15.18%)

, RES

RPC, Inc.

$2.73 /

-0.07 (-2.50%)

, FSLR

First Solar

$84.66 /

-1.62 (-1.88%)

Catch up on today's…

Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Ralph Lauren (RL) downgraded to Neutral from Buy at BofA with analyst Heather Balsky saying the company's sales recovery is being slowed by the strategic actions being taken to clean up its U.S. distribution and promotional depth during the pandemic. 2. Ballard Power (BLDP) downgraded to Neutral from Buy at H.C. Wainwright with analyst Amit Dayal saying production ramping at the Weichai joint venture plant is likely to be partly dependent on regulatory policy framework for new energy vehicles in China and Ballard is also facing near-term margin pressure as higher level of fixed cost overheads are not being effectively absorbed at current volume levels. 3. Voyager Therapeutics (VYGR) downgraded to Equal Weight from Overweight at Wells Fargo and double downgraded to Outperform from Strong Buy at Raymond James. 4. RPC, Inc. (RES) downgraded to Underweight from Equal Weight at Morgan Stanley with analyst Connor Lynagh saying he sees RPC being "increasingly challenged" by muted market dynamics. 5. First Solar (FSLR) double downgraded to Underperform from Outperform at Raymond James with analyst Pavel Molchanov saying Biden's stance on trade, as well as climate change, suggests that his administration will reduce or even repeal Trump-era tariffs that are making imported modules more expensive. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

ShowHide Related Items >><<
VYGR Voyager Therapeutics
$9.50 /

-1.7 (-15.18%)

RL Ralph Lauren
$81.65 /

-0.03 (-0.04%)

FSLR First Solar
$84.66 /

-1.62 (-1.88%)

BLDP Ballard Power
$15.92 /

-0.24 (-1.49%)

RL Ralph Lauren
$81.65 /

-0.03 (-0.04%)

11/10/20 BofA
Ralph Lauren downgraded to Neutral from Buy at BofA
11/10/20 BofA
Ralph Lauren downgraded to Neutral from Buy at BofA
10/26/20 JPMorgan
Ralph Lauren price target raised to $88 from $80 at JPMorgan
10/23/20 OTR Global
Ralph Lauren downgraded to Negative from Mixed at OTR Global
BLDP Ballard Power
$15.92 /

-0.24 (-1.49%)

11/10/20 H.C. Wainwright
Ballard Power downgraded to Neutral from Buy at H.C. Wainwright
09/30/20 Lake Street
Lake Street confidence in Ballard Power increased after analyst day
08/24/20
Fly Intel: Top five analyst initiations
08/24/20 Bernstein
Bernstein starts Ballard at Outperform as pure play on hydrogen economy
VYGR Voyager Therapeutics
$9.50 /

-1.7 (-15.18%)

11/10/20 Raymond James
Voyager Therapeutics downgraded to Outperform from Strong Buy at Raymond James
11/10/20 Wedbush
Voyager Therapeutics price target lowered to $13 from $19 at Wedbush
11/10/20 Wells Fargo
Wells Fargo cuts Voyager Therapeutics to Equal Weight on CNS setbacks
11/10/20 Raymond James
Voyager Therapeutics downgraded to Outperform from Strong Buy at Raymond James
RES RPC, Inc.
$2.73 /

-0.07 (-2.50%)

11/10/20 Morgan Stanley
Morgan Stanley downgrades Oil Field Services industry view to In-Line
11/10/20 Morgan Stanley
RPC, Inc. downgraded to Underweight at Morgan Stanley
11/10/20 Morgan Stanley
RPC, Inc. downgraded to Underweight from Equal Weight at Morgan Stanley
04/13/20 Scotiabank
RPC, Inc. upgraded to Sector Perform from Underperform at Scotiabank
FSLR First Solar
$84.66 /

-1.62 (-1.88%)

11/10/20 Raymond James
Raymond James double downgrades First Solar to Underperform on Biden election
11/10/20 Raymond James
First Solar downgraded to Underperform from Outperform at Raymond James
11/09/20 Goldman Sachs
First Solar downgraded to Buy from Conviction Buy at Goldman Sachs
11/05/20
Fly Intel: Top five analyst downgrades
VYGR Voyager Therapeutics
$9.50 /

-1.7 (-15.18%)

RL Ralph Lauren
$81.65 /

-0.03 (-0.04%)

RES RPC, Inc.
$2.73 /

-0.07 (-2.50%)

FSLR First Solar
$84.66 /

-1.62 (-1.88%)

BLDP Ballard Power
$15.92 /

-0.24 (-1.49%)

  • 17
    Sep
RL Ralph Lauren
$81.65 /

-0.03 (-0.04%)

BLDP Ballard Power
$15.92 /

-0.24 (-1.49%)

VYGR Voyager Therapeutics
$9.50 /

-1.7 (-15.18%)

RL Ralph Lauren
$81.65 /

-0.03 (-0.04%)

FSLR First Solar
$84.66 /

-1.62 (-1.88%)

BLDP Ballard Power
$15.92 /

-0.24 (-1.49%)

RL Ralph Lauren
$81.65 /

-0.03 (-0.04%)

FSLR First Solar
$84.66 /

-1.62 (-1.88%)

BLDP Ballard Power
$15.92 /

-0.24 (-1.49%)

Recommendations
Morgan Stanley downgrades Oil Field Services industry view to In-Line » 07:35
11/10/20
11/10
07:35
11/10/20
07:35
NOV

NOV Inc.

$11.45 /

+2.445 (+27.15%)

, CLB

Core Laboratories

$18.60 /

+3.34 (+21.89%)

, WHD

Cactus

$23.68 /

+4.82 (+25.56%)

, RES

RPC, Inc.

$2.80 /

+0.46 (+19.70%)

, TS

Tenaris

$13.14 /

+1.32 (+11.17%)

, HAL

Halliburton

$14.37 /

+2.085 (+16.97%)

, BKR

Baker Hughes

$17.68 /

+2.085 (+13.37%)

, SLB

Schlumberger

$18.25 /

+3.035 (+19.95%)

Morgan Stanley analyst…

Morgan Stanley analyst Connor Lynagh downgraded his Oil Field Services industry view to In-Line from Attractive as he believes the combination of high excess capacity in both oil and oil services markets, along with an uncertain outlook for demand in the longer-term for oil and gas, makes industry-wide outperformance unlikely in the near-term. It appears to him that the market is anticipating a meaningful activity and pricing recovery and he thinks valuations in the group are best described as "defensible, but not cheap," Lynagh tells investors. In this context, he made several changes this morning to his preferences in the group, as Lynagh downgraded National Oilwell (NOV) to Underweight, downgraded RPC, Inc. (RES) to Underweight, downgraded Cactus (WHD) to Equal Weight and upgraded Core Laboratories (CLB) to Overweight, as previously reported.

ShowHide Related Items >><<
TS Tenaris
$13.14 /

+1.32 (+11.17%)

SLB Schlumberger
$18.25 /

+3.035 (+19.95%)

NOV NOV Inc.
$11.45 /

+2.445 (+27.15%)

HAL Halliburton
$14.37 /

+2.085 (+16.97%)

CLB Core Laboratories
$18.60 /

+3.34 (+21.89%)

BKR Baker Hughes
$17.68 /

+2.085 (+13.37%)

NOV NOV Inc.
$11.45 /

+2.445 (+27.15%)

11/10/20 Morgan Stanley
Morgan Stanley cuts National Oilwell to Underweight on industry overcapacity
11/10/20 Morgan Stanley
National Oilwell downgraded to Underweight from Equal Weight at Morgan Stanley
10/28/20 Susquehanna
National Oilwell price target lowered to $11 from $13 at Susquehanna
10/28/20 Susquehanna
National Oilwell price target lowered to $11 from $13 at Susquehanna
CLB Core Laboratories
$18.60 /

+3.34 (+21.89%)

11/10/20 Morgan Stanley
Core Laboratories upgraded to Overweight from Equal Weight at Morgan Stanley
10/23/20 Citi
Core Laboratories price target lowered to $16 from $21 at Citi
10/13/20 BofA
Core Laboratories upgraded to Neutral from Underperform at BofA
10/13/20 BofA
Core Laboratories upgraded to Neutral from Underperform at BofA
WHD Cactus
$23.68 /

+4.82 (+25.56%)

11/10/20 Morgan Stanley
Cactus downgraded to Equal Weight on valuation at Morgan Stanley
11/10/20 Morgan Stanley
Cactus downgraded to Equal Weight from Overweight at Morgan Stanley
09/16/20 Scotiabank
Scotiabank expands U.S. Oilfield Services coverage with three initiations
09/15/20 Scotiabank
Cactus initiated with a Sector Perform at Scotiabank
RES RPC, Inc.
$2.80 /

+0.46 (+19.70%)

11/10/20 Morgan Stanley
RPC, Inc. downgraded to Underweight at Morgan Stanley
11/10/20 Morgan Stanley
RPC, Inc. downgraded to Underweight from Equal Weight at Morgan Stanley
04/13/20 Scotiabank
RPC, Inc. upgraded to Sector Perform from Underperform at Scotiabank
03/19/20 Raymond James
RPC, Inc. price target lowered to $3 from $7 at Raymond James
TS Tenaris
$13.14 /

+1.32 (+11.17%)

11/06/20 Credit Suisse
Tenaris price target raised to EUR 4.40 from EUR 3.90 at Credit Suisse
11/06/20 Kepler Cheuvreux
Tenaris upgraded to Buy from Hold at Kepler Cheuvreux
10/01/20 Credit Suisse
Tenaris initiated with an Underperform at Credit Suisse
HAL Halliburton
$14.37 /

+2.085 (+16.97%)

10/20/20 Susquehanna
Halliburton estimates raised on improved margins outlook, says Susquehanna
10/12/20 Exane BNP Paribas
Halliburton initiated with an Underperform at Exane BNP Paribas
10/01/20 BMO Capital
Halliburton initiated with a Market Perform at BMO Capital
08/13/20
Fly Intel: Top five analyst upgrades
BKR Baker Hughes
$17.68 /

+2.085 (+13.37%)

10/12/20 Exane BNP Paribas
Baker Hughes initiated with an Outperform at Exane BNP Paribas
10/01/20 BMO Capital
Baker Hughes initiated with a Market Perform at BMO Capital
08/13/20
Fly Intel: Top five analyst downgrades
08/13/20 Goldman Sachs
Baker Hughes downgraded to Buy from Conviction Buy at Goldman Sachs
SLB Schlumberger
$18.25 /

+3.035 (+19.95%)

10/19/20 Morgan Stanley
Schlumberger's post-earnings selloff a buying opportunity, says Morgan Stanley
10/19/20 Wells Fargo
Schlumberger price target lowered to $23 from $28 at Wells Fargo
10/12/20 Exane BNP Paribas
Schlumberger initiated with a Neutral at Exane BNP Paribas
10/01/20 BMO Capital
Schlumberger initiated with an Outperform at BMO Capital
WHD Cactus
$23.68 /

+4.82 (+25.56%)

TS Tenaris
$13.14 /

+1.32 (+11.17%)

SLB Schlumberger
$18.25 /

+3.035 (+19.95%)

RES RPC, Inc.
$2.80 /

+0.46 (+19.70%)

NOV NOV Inc.
$11.45 /

+2.445 (+27.15%)

HAL Halliburton
$14.37 /

+2.085 (+16.97%)

CLB Core Laboratories
$18.60 /

+3.34 (+21.89%)

BKR Baker Hughes
$17.68 /

+2.085 (+13.37%)

SLB Schlumberger
$18.25 /

+3.035 (+19.95%)

HAL Halliburton
$14.37 /

+2.085 (+16.97%)

BKR Baker Hughes
$17.68 /

+2.085 (+13.37%)

SLB Schlumberger
$18.25 /

+3.035 (+19.95%)

HAL Halliburton
$14.37 /

+2.085 (+16.97%)

BKR Baker Hughes
$17.68 /

+2.085 (+13.37%)

SLB Schlumberger
$18.25 /

+3.035 (+19.95%)

NOV NOV Inc.
$11.45 /

+2.445 (+27.15%)

HAL Halliburton
$14.37 /

+2.085 (+16.97%)

Downgrade
RPC, Inc. downgraded to Underweight at Morgan Stanley » 07:28
11/10/20
11/10
07:28
11/10/20
07:28
RES

RPC, Inc.

$2.80 /

+0.46 (+19.70%)

As previously reported,…

As previously reported, Morgan Stanley analyst Connor Lynagh downgraded RPC, Inc. to Underweight from Equal Weight with a $2.50 price target in a broader note in which he refreshed his preferences among Oil Services, Drilling and Equipment stocks. He see RPC being "increasingly challenged" by muted market dynamics, said Lynagh, who has also downgraded his Oil Field Services industry view to In-Line as he believes the combination of high excess capacity in both oil and oil services markets, along with an uncertain demand in the longer-term for oil and gas, makes industry-wide outperformance unlikely in the near-term.

ShowHide Related Items >><<
RES RPC, Inc.
$2.80 /

+0.46 (+19.70%)

11/10/20 Morgan Stanley
RPC, Inc. downgraded to Underweight from Equal Weight at Morgan Stanley
04/13/20 Scotiabank
RPC, Inc. upgraded to Sector Perform from Underperform at Scotiabank
03/19/20 Raymond James
RPC, Inc. price target lowered to $3 from $7 at Raymond James
03/16/20 Morgan Stanley
RPC, Inc. downgraded to Equal Weight from Overweight at Morgan Stanley
RES RPC, Inc.
$2.80 /

+0.46 (+19.70%)

Downgrade
RPC, Inc. downgraded to Underweight from Equal Weight at Morgan Stanley » 05:19
11/10/20
11/10
05:19
11/10/20
05:19
RES

RPC, Inc.

$2.80 /

+0.46 (+19.70%)

Morgan Stanley analyst…

Morgan Stanley analyst Connor Lynagh downgraded RPC, Inc. to Underweight from Equal Weight with a $2.50 price target.

ShowHide Related Items >><<
RES RPC, Inc.
$2.80 /

+0.46 (+19.70%)

04/13/20 Scotiabank
RPC, Inc. upgraded to Sector Perform from Underperform at Scotiabank
03/19/20 Raymond James
RPC, Inc. price target lowered to $3 from $7 at Raymond James
03/16/20 Morgan Stanley
RPC, Inc. downgraded to Equal Weight from Overweight at Morgan Stanley
01/06/20 Raymond James
RPC, Inc. upgraded to Outperform from Market Perform at Raymond James
RES RPC, Inc.
$2.80 /

+0.46 (+19.70%)

Earnings
RPC, Inc. reports Q3 adj. EPS (9c), consensus (9c) » 06:57
10/28/20
10/28
06:57
10/28/20
06:57
RES

RPC, Inc.

$2.65 /

+0.015 (+0.57%)

Reports Q3 revenue…

Reports Q3 revenue $116.59M, consensus $96.09M. "We are pleased U.S. oilfield activity has improved in recent months from the historic lows recorded in the second quarter," stated Richard A. Hubbell, RPC's president and CEO. "RPC capitalized on the increased activity with equipment and crews that were in place and prepared to work. Our operating losses narrowed due to higher revenue, increased utilization, and continued diligent expense management.

ShowHide Related Items >><<
RES RPC, Inc.
$2.65 /

+0.015 (+0.57%)

RES RPC, Inc.
$2.65 /

+0.015 (+0.57%)

04/13/20 Scotiabank
RPC, Inc. upgraded to Sector Perform from Underperform at Scotiabank
03/19/20 Raymond James
RPC, Inc. price target lowered to $3 from $7 at Raymond James
03/16/20 Morgan Stanley
RPC, Inc. downgraded to Equal Weight from Overweight at Morgan Stanley
01/06/20 Raymond James
RPC, Inc. upgraded to Outperform from Market Perform at Raymond James
RES RPC, Inc.
$2.65 /

+0.015 (+0.57%)

Earnings
RPC, Inc. reports Q2 adj. EPS (10c), consensus (14c) » 06:56
07/29/20
07/29
06:56
07/29/20
06:56
RES

RPC, Inc.

$3.12 /

-0.225 (-6.74%)

Reports Q2 revenue…

Reports Q2 revenue $89.3M, consensus $102.09M. "The average U.S. domestic rig count during the second quarter of 2020 was 392, a 60.4 percent decrease compared to the same period in 2019, and a 50.1 percent decrease compared to the first quarter of 2020," stated Richard Hubbell, RPC's President and CEO. "The average price of oil during the second quarter was $27.32 per barrel, a 54.4 percent decrease compared to the same period in 2019, and a 42.2 percent decrease compared to the first quarter of 2020. The average price of natural gas during the second quarter was $1.71 per Mcf, a 33.5 percent decrease compared to the same period in 2019, and a 10.9 percent decrease compared to the first quarter of 2020. U.S. oilfield drilling activity during the second quarter of 2020 declined to historic lows, and we believe completion activity declined at an even greater rate. RPC's revenues declined at a greater rate than the rig count due to our exposure to the completions market and continued pronounced weakness in pressure pumping. As we begin the third quarter, we believe domestic oilfield activity has passed the trough. While we anticipate industry activity will modestly increase during the second half of 2020, we are unsure whether this is the start of a sustained recovery. As a result, RPC will continue to focus on cost management, pricing discipline and capital expenditure controls. We are pleased to report a cash balance of $145.4 million at the end of the second quarter, an increase of $62.8 million compared to the end of the first quarter. Our cash balance is a result of effective working capital and capital expenditure management. We are fortunate to be in a strong financial position as we navigate this difficult environment," concluded Hubbell.

ShowHide Related Items >><<
RES RPC, Inc.
$3.12 /

-0.225 (-6.74%)

RES RPC, Inc.
$3.12 /

-0.225 (-6.74%)

04/13/20 Scotiabank
RPC, Inc. upgraded to Sector Perform from Underperform at Scotiabank
03/19/20 Raymond James
RPC, Inc. price target lowered to $3 from $7 at Raymond James
03/16/20 Morgan Stanley
RPC, Inc. downgraded to Equal Weight from Overweight at Morgan Stanley
01/06/20 Raymond James
RPC, Inc. upgraded to Outperform from Market Perform at Raymond James
RES RPC, Inc.
$3.12 /

-0.225 (-6.74%)

Get Full Fly Access

Breaking market intelligence sent straight to you
Our team of experts analyze every news story and filter out the noise to deliver real-time market moving news.
Up-to-date information on important industry events
Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.