Citigroup Issues Positive Forecast for RPC (NYSE:RES) Stock Price

RPC (NYSE:RES) had its target price upped by investment analysts at Citigroup from $5.25 to $5.50 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “sell” rating on the oil and gas company’s stock. Citigroup’s target price would indicate a potential downside of 7.02% from the stock’s previous close.

Separately, Susquehanna dropped their target price on shares of RPC from $6.50 to $6.00 and set a “neutral” rating for the company in a report on Friday, October 25th.

RPC Stock Down 3.0 %

NYSE RES opened at $5.92 on Thursday. RPC has a 52 week low of $5.54 and a 52 week high of $8.19. The company has a market capitalization of $1.27 billion, a P/E ratio of 13.76 and a beta of 1.58. The stock’s 50-day moving average price is $6.20 and its 200-day moving average price is $6.25.

RPC (NYSE:RES) last issued its quarterly earnings results on Thursday, January 30th. The oil and gas company reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. RPC had a net margin of 6.46% and a return on equity of 8.62%. Research analysts anticipate that RPC will post 0.31 EPS for the current year.

Hedge Funds Weigh In On RPC

Hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC grew its stake in RPC by 540.4% during the third 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 in the last quarter. Nicholas Hoffman & Company LLC. bought a new position in shares of RPC during the 4th quarter valued at about $59,000. GAMMA Investing LLC grew its position in shares of RPC by 437.4% during the fourth quarter. GAMMA Investing LLC now owns 10,087 shares of the oil and gas company’s stock valued at $60,000 after purchasing an additional 8,210 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of RPC in the fourth quarter worth about $64,000. Finally, Ieq Capital LLC purchased a new stake in shares of RPC in the fourth quarter worth about $65,000. 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.