RPC (NYSE:RES) Price Target Lowered to $6.00 at Susquehanna

RPC (NYSE:RES) had its price objective lowered by research analysts at Susquehanna from $6.50 to $6.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. Susquehanna’s target price indicates a potential downside of 2.91% from the stock’s current price.

Other analysts also recently issued reports about the company. Stifel Nicolaus cut their target price on RPC from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Friday, October 11th. Citigroup reduced their target price on shares of RPC from $6.75 to $5.25 and set a “sell” rating on the stock in a research note on Wednesday, July 10th.

RPC Trading Up 3.0 %

NYSE:RES traded up $0.18 during trading hours on Friday, reaching $6.18. 270,048 shares of the company were exchanged, compared to its average volume of 1,718,834. The firm has a market cap of $1.33 billion, a PE ratio of 11.18 and a beta of 1.55. RPC has a twelve month low of $5.66 and a twelve month high of $8.60. The stock’s 50-day moving average is $6.42 and its 200-day moving average is $6.60.

RPC (NYSE:RES) last issued its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.05). The company had revenue of $337.70 million during the quarter, compared to analysts’ expectations of $365.33 million. RPC had a net margin of 8.08% and a return on equity of 11.52%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.08 earnings per share. As a group, research analysts anticipate that RPC will post 0.55 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. International Assets Investment Management LLC raised its stake in shares of RPC by 540.4% in the 3rd quarter. International Assets Investment Management LLC now owns 4,560 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 3,848 shares during the period. CWM LLC raised its position in RPC by 256.5% in the second quarter. CWM LLC now owns 5,112 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 3,678 shares during the period. Register Financial Advisors LLC acquired a new position in RPC during the first quarter worth $39,000. Innealta Capital LLC purchased a new position in shares of RPC during the second quarter worth $44,000. Finally, Vanguard Personalized Indexing Management LLC grew its stake in shares of RPC by 38.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,821 shares of the oil and gas company’s stock valued at $93,000 after buying an additional 4,136 shares in the last quarter. Institutional investors and hedge funds own 41.06% of the company’s stock.

About RPC

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.