RPC (NYSE:RES) PT Lowered to $5.25 at Citigroup

RPC (NYSE:RES) had its target price decreased by Citigroup from $6.75 to $5.25 in a report released on Wednesday morning, Benzinga reports. Citigroup currently has a sell rating on the oil and gas company’s stock.

Separately, Susquehanna lowered their price target on shares of RPC from $8.00 to $7.00 and set a neutral rating for the company in a research note on Friday, April 26th.

RPC Stock Performance

RPC stock opened at $5.96 on Wednesday. The firm’s fifty day moving average price is $6.46 and its 200-day moving average price is $7.03. The stock has a market cap of $1.28 billion, a P/E ratio of 8.51 and a beta of 1.59. RPC has a fifty-two week low of $5.66 and a fifty-two week high of $9.41.

RPC (NYSE:RES) last posted its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.06). The business had revenue of $377.80 million during the quarter, compared to the consensus estimate of $393.33 million. RPC had a return on equity of 15.02% and a net margin of 9.95%. The business’s revenue for the quarter was down 20.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.39 earnings per share. On average, analysts predict that RPC will post 0.71 earnings per share for the current year.

RPC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 2.68%. The ex-dividend date was Thursday, May 9th. RPC’s dividend payout ratio (DPR) is 22.86%.

Hedge Funds Weigh In On RPC

Hedge funds and other institutional investors have recently modified their holdings of the company. CWM LLC raised its stake in shares of RPC by 256.5% during the second quarter. CWM LLC now owns 5,112 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 3,678 shares during the last quarter. Signaturefd LLC increased its position in shares of RPC by 67.3% during the fourth quarter. Signaturefd LLC now owns 4,580 shares of the oil and gas company’s stock valued at $33,000 after buying an additional 1,843 shares during the period. International Assets Investment Management LLC increased its position in shares of RPC by 632.1% during the fourth quarter. International Assets Investment Management LLC now owns 5,125 shares of the oil and gas company’s stock valued at $37,000 after buying an additional 4,425 shares during the period. Register Financial Advisors LLC purchased a new position in shares of RPC during the first quarter valued at about $39,000. Finally, ICA Group Wealth Management LLC purchased a new position in shares of RPC during the fourth quarter valued at about $47,000. 41.06% of the stock is owned by institutional investors.

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.