RPC (NYSE:RES) Price Target Cut to $6.00 by Analysts at Susquehanna

RPC (NYSE:RES) had its price objective decreased by Susquehanna from $6.50 to $6.00 in a research note released on Friday morning, Benzinga reports. Susquehanna currently has a neutral rating on the oil and gas company’s stock.

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

RPC Stock Performance

NYSE:RES opened at $5.75 on Friday. RPC has a 1 year low of $5.66 and a 1 year high of $8.55. The stock has a fifty day moving average price of $6.40 and a two-hundred day moving average price of $6.55. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 10.27 and a beta of 1.55.

RPC (NYSE:RES) last announced its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). RPC had a net margin of 8.07% and a return on equity of 11.36%. The company had revenue of $337.70 million during the quarter, compared to analysts’ expectations of $365.33 million. During the same quarter in the prior year, the business earned $0.08 EPS. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, analysts predict that RPC will post 0.55 EPS for the current year.

RPC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 11th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Friday, November 8th. RPC’s payout ratio is currently 28.57%.

Institutional Trading of RPC

Large investors have recently modified their holdings of the business. International Assets Investment Management LLC lifted its stake in 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 buying an additional 3,848 shares in the last quarter. Register Financial Advisors LLC purchased a new stake in RPC during the 1st quarter worth about $39,000. CWM LLC raised its stake in RPC by 256.5% in the 2nd 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 last quarter. Innealta Capital LLC purchased a new position in RPC in the 2nd quarter valued at about $44,000. Finally, EntryPoint Capital LLC acquired a new stake in shares of RPC during the 1st quarter worth about $110,000. 41.06% of the stock is currently owned by institutional investors and hedge funds.

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.