RPC (NYSE:RES) Price Target Cut to $5.50 by Analysts at Susquehanna

RPC (NYSE:RES) had its price objective cut by Susquehanna from $6.00 to $5.50 in a research note released on Monday,Benzinga reports. They currently have a neutral rating on the oil and gas company’s stock.

Separately, Citigroup raised shares of RPC from a “sell” rating to a “neutral” rating and decreased their price objective for the company from $5.50 to $4.75 in a research note on Tuesday, April 8th.

RPC Price Performance

Shares of NYSE RES opened at $4.77 on Monday. The business has a fifty day moving average price of $5.44 and a two-hundred day moving average price of $5.98. The stock has a market capitalization of $1.03 billion, a PE ratio of 11.09 and a beta of 1.27. RPC has a fifty-two week low of $4.10 and a fifty-two week high of $8.14.

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

RPC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were issued a $0.04 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 3.35%. RPC’s dividend payout ratio (DPR) is currently 37.21%.

Hedge Funds Weigh In On RPC

Institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC grew its stake in shares of RPC by 230.1% during the third quarter. Barclays PLC now owns 182,943 shares of the oil and gas company’s stock worth $1,163,000 after buying an additional 127,525 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of RPC by 17.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 489,401 shares of the oil and gas company’s stock valued at $3,113,000 after acquiring an additional 71,064 shares in the last quarter. State Street Corp grew its position in RPC by 6.2% during the 3rd quarter. State Street Corp now owns 4,202,844 shares of the oil and gas company’s stock worth $26,730,000 after acquiring an additional 245,372 shares during the last quarter. HB Wealth Management LLC increased its holdings in RPC by 12.9% in the 4th quarter. HB Wealth Management LLC now owns 32,280 shares of the oil and gas company’s stock worth $192,000 after purchasing an additional 3,697 shares in the last quarter. Finally, HighTower Advisors LLC increased its holdings in RPC by 6.1% in the 3rd quarter. HighTower Advisors LLC now owns 40,082 shares of the oil and gas company’s stock worth $252,000 after purchasing an additional 2,288 shares in the last quarter. 41.06% of the stock is currently owned by institutional investors and hedge funds.

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.