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

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

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

RPC Stock Up 3.0 %

RES stock traded up $0.18 during midday trading on Friday, hitting $6.18. The company’s stock had a trading volume of 270,048 shares, compared to its average volume of 1,718,834. The firm has a 50-day simple moving average of $6.42 and a 200-day simple moving average of $6.60. The firm has a market capitalization of $1.33 billion, a P/E ratio of 11.18 and a beta of 1.55. RPC has a 52-week low of $5.66 and a 52-week high of $8.60.

RPC (NYSE:RES) last released its earnings results on Thursday, October 24th. The oil and gas company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.05). The company had revenue of $337.70 million for the quarter, compared to analyst estimates of $365.33 million. RPC had a return on equity of 11.52% and a net margin of 8.08%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.08 earnings per share. On average, sell-side analysts expect that RPC will post 0.55 earnings per share for the current fiscal year.

Institutional Trading of RPC

Institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company grew its position in shares of RPC by 3.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 51,819 shares of the oil and gas company’s stock valued at $324,000 after buying an additional 1,869 shares during the last quarter. Swiss National Bank increased its position in shares of RPC by 1.4% during the first quarter. Swiss National Bank now owns 192,000 shares of the oil and gas company’s stock worth $1,486,000 after purchasing an additional 2,600 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of RPC by 17.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,393 shares of the oil and gas company’s stock valued at $189,000 after purchasing an additional 3,650 shares during the last quarter. CWM LLC boosted its position in shares of 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 period. Finally, International Assets Investment Management LLC grew its stake in RPC by 540.4% during the 3rd quarter. International Assets Investment Management LLC now owns 4,560 shares of the oil and gas company’s stock worth $29,000 after buying an additional 3,848 shares during the last quarter. Hedge funds and other institutional investors 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.