RPC (NYSE:RES) Price Target Cut to $7.00

RPC (NYSE:RES) had its price target decreased by Stifel Nicolaus from $8.00 to $7.00 in a report published on Friday, Benzinga reports. Stifel Nicolaus currently has a hold rating on the oil and gas company’s stock.

Other equities analysts also recently issued reports about the company. Citigroup lowered their target price on RPC from $6.75 to $5.25 and set a sell rating on the stock in a research report on Wednesday, July 10th. Susquehanna lowered their price objective on RPC from $7.00 to $6.50 and set a neutral rating on the stock in a research report on Thursday, July 11th.

RPC Stock Down 0.4 %

Shares of NYSE RES opened at $7.03 on Friday. The company has a market cap of $1.51 billion, a PE ratio of 10.04 and a beta of 1.55. The firm’s 50-day moving average price is $6.39 and its 200-day moving average price is $6.67. RPC has a 52-week low of $5.66 and a 52-week high of $9.26.

RPC (NYSE:RES) last posted its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. RPC had a net margin of 8.08% and a return on equity of 11.52%. The company had revenue of $364.20 million for the quarter, compared to the consensus estimate of $381.18 million. During the same quarter last year, the firm posted $0.30 earnings per share. The firm’s revenue was down 12.4% compared to the same quarter last year. As a group, equities research analysts anticipate that RPC will post 0.56 EPS for the current fiscal year.

RPC Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend was Friday, August 9th. RPC’s dividend payout ratio is currently 22.86%.

Institutional Investors Weigh In On RPC

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Creative Planning boosted its stake in shares of RPC by 6.9% in the third quarter. Creative Planning now owns 258,055 shares of the oil and gas company’s stock worth $1,641,000 after acquiring an additional 16,584 shares during the period. Wedge Capital Management L L P NC bought a new position in RPC in the 3rd quarter worth approximately $936,000. Exchange Traded Concepts LLC grew its holdings in RPC by 39.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 164,990 shares of the oil and gas company’s stock valued at $1,049,000 after buying an additional 46,995 shares in the last quarter. Inspire Investing LLC raised its position in shares of RPC by 15.3% during the third quarter. Inspire Investing LLC now owns 64,494 shares of the oil and gas company’s stock valued at $410,000 after buying an additional 8,552 shares during the last quarter. Finally, CWM LLC lifted its holdings in shares of RPC by 130.0% in the third quarter. CWM LLC now owns 11,758 shares of the oil and gas company’s stock worth $75,000 after buying an additional 6,646 shares in the last quarter. 41.06% of the stock is owned by institutional investors.

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.