RPC (NYSE:RES) Price Target Cut to $6.00 by Analysts at Susquehanna

RPC (NYSE:RES) had its price target reduced by Susquehanna from $6.50 to $6.00 in a report issued on Friday morning, Benzinga reports. Susquehanna currently has a neutral rating on the oil and gas company’s stock.

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

RPC Trading Down 0.5 %

NYSE RES opened at $5.97 on Friday. The company has a market cap of $1.28 billion, a P/E ratio of 8.53 and a beta of 1.55. RPC has a 1 year low of $5.66 and a 1 year high of $8.60. The company has a fifty day simple moving average of $6.41 and a 200 day simple moving average of $6.57.

RPC (NYSE:RES) last issued its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.05). RPC had a net margin of 8.08% and a return on equity of 11.52%. The business had revenue of $337.70 million during the quarter, compared to analyst estimates of $365.33 million. During the same period in the prior year, the business posted $0.08 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. Equities research analysts forecast that RPC will post 0.55 EPS for the current fiscal year.

RPC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 11th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend is Friday, November 8th. RPC’s dividend payout ratio is presently 22.86%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Empowered Funds LLC raised its stake in shares of RPC by 31.9% in the 1st quarter. Empowered Funds LLC now owns 777,986 shares of the oil and gas company’s stock valued at $6,022,000 after buying an additional 188,377 shares in the last quarter. Texas Permanent School Fund Corp lifted its stake in RPC by 115.1% during the second quarter. Texas Permanent School Fund Corp now owns 160,197 shares of the oil and gas company’s stock worth $1,001,000 after purchasing an additional 85,738 shares during the period. Wasatch Advisors LP acquired a new stake in RPC during the first quarter valued at approximately $1,239,000. Price T Rowe Associates Inc. MD grew its stake 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 period. Finally, Creative Planning raised its holdings in shares of RPC by 876.5% in the 2nd quarter. Creative Planning now owns 241,471 shares of the oil and gas company’s stock worth $1,509,000 after buying an additional 216,742 shares in the last quarter. 41.06% of the stock is owned by institutional investors.

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.