RPC (NYSE:RES) Price Target Raised to $5.50 at Citigroup

RPC (NYSE:RES) had its price target upped by equities researchers 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 points to a potential downside of 10.06% from the company’s current price.

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

RPC Price Performance

NYSE:RES traded up $0.04 on Thursday, reaching $6.12. The stock had a trading volume of 335,994 shares, compared to its average volume of 1,442,603. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 14.20 and a beta of 1.58. The firm’s fifty day moving average is $6.21 and its two-hundred day moving average is $6.26. RPC has a 12-month low of $5.54 and a 12-month high of $8.19.

RPC (NYSE:RES) last posted its quarterly earnings data on Thursday, January 30th. The oil and gas company reported $0.06 EPS for the quarter, meeting analysts’ consensus estimates of $0.06. RPC had a net margin of 6.46% and a return on equity of 8.62%. As a group, research analysts forecast that RPC will post 0.31 earnings per share for the current fiscal year.

Institutional Trading of RPC

A number of institutional investors and hedge funds have recently bought and sold shares of RES. Pacer Advisors Inc. increased its position in RPC by 38.9% during the 3rd quarter. Pacer Advisors Inc. now owns 12,029,993 shares of the oil and gas company’s stock worth $76,511,000 after purchasing an additional 3,371,490 shares in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in RPC during the 3rd quarter worth approximately $5,917,000. ExodusPoint Capital Management LP acquired a new stake in RPC during the 4th quarter worth approximately $3,632,000. Van ECK Associates Corp boosted its holdings in RPC by 27.2% in the 4th quarter. Van ECK Associates Corp now owns 2,838,991 shares of the oil and gas company’s stock worth $16,863,000 after acquiring an additional 607,255 shares during the period. Finally, First Trust Advisors LP boosted its holdings in RPC by 690.7% in the 4th quarter. First Trust Advisors LP now owns 657,981 shares of the oil and gas company’s stock worth $3,908,000 after acquiring an additional 574,765 shares during the period. Institutional investors and hedge funds 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.