RPC (NYSE:RES) Upgraded by Citigroup to “Neutral” Rating

RPC (NYSE:RES) was upgraded by stock analysts at Citigroup from a “sell” rating to a “neutral” rating in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a $4.75 price objective on the oil and gas company’s stock, down from their previous price objective of $5.50. Citigroup’s price target would indicate a potential upside of 7.10% from the company’s current price.

RPC Stock Up 2.7 %

Shares of NYSE:RES opened at $4.44 on Tuesday. The company’s fifty day moving average is $5.67 and its two-hundred day moving average is $6.07. The company has a market cap of $958.20 million, a P/E ratio of 10.31 and a beta of 1.27. RPC has a 12-month low of $4.10 and a 12-month high of $8.19.

RPC (NYSE:RES) last announced 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%. Equities research analysts anticipate that RPC will post 0.31 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in RPC by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,368 shares of the oil and gas company’s stock worth $287,000 after buying an additional 1,697 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of RPC by 3.8% during the 4th quarter. Franklin Resources Inc. now owns 48,030 shares of the oil and gas company’s stock valued at $285,000 after acquiring an additional 1,758 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of RPC by 9.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 21,950 shares of the oil and gas company’s stock valued at $130,000 after acquiring an additional 1,850 shares in the last quarter. HighTower Advisors LLC lifted 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 during the last quarter. Finally, Inspire Investing LLC boosted its position in RPC by 3.9% during the fourth quarter. Inspire Investing LLC now owns 66,994 shares of the oil and gas company’s stock worth $398,000 after purchasing an additional 2,500 shares during the period. Institutional investors and hedge funds 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.