Susquehanna Lowers RPC (NYSE:RES) Price Target to $6.50

RPC (NYSE:RES) had its price objective lowered by equities researchers at Susquehanna from $7.00 to $6.50 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas company’s stock. Susquehanna’s target price would suggest a potential upside of 9.06% from the company’s previous close.

Separately, Citigroup cut their price target on shares of RPC from $6.75 to $5.25 and set a “sell” rating on the stock in a report on Wednesday.

RPC Trading Up 0.8 %

NYSE RES opened at $5.96 on Thursday. The stock has a market cap of $1.28 billion, a P/E ratio of 8.51 and a beta of 1.59. RPC has a 12-month low of $5.66 and a 12-month high of $9.41. The company has a fifty day simple moving average of $6.46 and a two-hundred day simple moving average of $7.03.

RPC (NYSE:RES) last issued its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The firm had revenue of $377.80 million for the quarter, compared to analyst estimates of $393.33 million. RPC had a return on equity of 15.02% and a net margin of 9.95%. The business’s revenue was down 20.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.39 EPS. As a group, sell-side analysts forecast that RPC will post 0.71 earnings per share for the current year.

Institutional Investors Weigh In On RPC

Several hedge funds have recently bought and sold shares of RES. Signaturefd LLC lifted its stake in shares of RPC by 67.3% in the 4th quarter. Signaturefd LLC now owns 4,580 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 1,843 shares during the period. Bridge City Capital LLC raised its position in shares of RPC by 0.8% in the first quarter. Bridge City Capital LLC now owns 240,187 shares of the oil and gas company’s stock worth $1,859,000 after acquiring an additional 1,851 shares during the period. Arizona State Retirement System boosted its stake in shares of RPC by 10.5% during the 4th quarter. Arizona State Retirement System now owns 27,224 shares of the oil and gas company’s stock worth $198,000 after acquiring an additional 2,581 shares in the last quarter. Swiss National Bank grew its position in shares of RPC by 1.4% during the 1st quarter. Swiss National Bank now owns 192,000 shares of the oil and gas company’s stock valued at $1,486,000 after acquiring an additional 2,600 shares during the period. Finally, First Eagle Investment Management LLC increased its stake in shares of RPC by 1.0% in the 4th quarter. First Eagle Investment Management LLC now owns 278,049 shares of the oil and gas company’s stock valued at $2,024,000 after purchasing an additional 2,850 shares in the last quarter. Hedge funds and other institutional investors own 41.06% of the company’s stock.

RPC Company Profile

RPC, Inc, through its subsidiaries, engages provision of a range of oilfield services and equipment for the oil and gas companies involved in the exploration, production, and development of oil and gas properties. The company operates through Technical Services and Support Services segments. The Technical Services segment offers pressure pumping, fracturing, acidizing, cementing, downhole tools, coiled tubing, snubbing, nitrogen, well control, wireline, pump down, and fishing services that are used in the completion, production, and maintenance of oil and gas wells.