RPC (NYSE:RES) Price Target Lowered to $5.50 at Susquehanna

RPC (NYSE:RES) had its price target trimmed by Susquehanna from $6.00 to $5.50 in a research report released on Monday morning,Benzinga reports. The firm currently has a neutral rating on the oil and gas company’s stock.

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

RPC Trading Down 1.4 %

Shares of RES opened at $4.77 on Monday. The company’s fifty day simple moving average is $5.44 and its 200 day simple moving average is $5.98. RPC has a 1-year low of $4.10 and a 1-year high of $8.14. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 11.09 and a beta of 1.27.

RPC (NYSE:RES) last released 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%. As a group, research analysts forecast that RPC will post 0.31 earnings per share for the current year.

RPC Announces Dividend

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

Institutional Investors Weigh In On RPC

Hedge funds have recently bought and sold shares of the stock. Barclays PLC grew its position in shares of RPC by 230.1% in the third quarter. Barclays PLC now owns 182,943 shares of the oil and gas company’s stock valued at $1,163,000 after purchasing an additional 127,525 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in RPC by 17.0% in 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 buying an additional 71,064 shares in the last quarter. State Street Corp increased 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 buying an additional 245,372 shares during the period. HB Wealth Management LLC lifted its holdings in shares of RPC by 12.9% during the fourth quarter. HB Wealth Management LLC now owns 32,280 shares of the oil and gas company’s stock worth $192,000 after buying an additional 3,697 shares in the last quarter. Finally, HighTower Advisors LLC lifted its holdings in shares of RPC by 6.1% during the third quarter. HighTower Advisors LLC now owns 40,082 shares of the oil and gas company’s stock worth $252,000 after buying 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.