Stifel Nicolaus Has Lowered Expectations for RPC (NYSE:RES) Stock Price

RPC (NYSE:RES) had its target price decreased by equities research analysts at Stifel Nicolaus from $6.00 to $5.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “hold” rating on the oil and gas company’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 5.37% from the company’s current price.

A number of other brokerages have also weighed in on RES. Susquehanna lowered their target price on RPC from $6.00 to $5.50 and set a “neutral” rating for the company in a research note on Monday, April 14th. Piper Sandler set a $5.00 price objective on RPC and gave the stock an “underweight” rating in a research note on Monday. Finally, Citigroup raised RPC from a “sell” rating to a “neutral” rating and dropped their price target for the company from $5.50 to $4.75 in a research note on Tuesday, April 8th.

RPC Stock Performance

Shares of NYSE RES opened at $4.75 on Wednesday. The stock has a fifty day moving average price of $4.85 and a two-hundred day moving average price of $5.36. The firm has a market cap of $1.05 billion, a P/E ratio of 13.18 and a beta of 0.85. RPC has a 1 year low of $4.10 and a 1 year high of $7.54.

RPC (NYSE:RES) last issued its earnings results on Thursday, April 24th. The oil and gas company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The firm had revenue of $332.88 million during the quarter, compared to analysts’ expectations of $326.72 million. RPC had a net margin of 5.55% and a return on equity of 7.08%. The business’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.13 EPS. On average, research analysts predict that RPC will post 0.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RPC

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. SummerHaven Investment Management LLC boosted its holdings in RPC by 2.1% in the 2nd quarter. SummerHaven Investment Management LLC now owns 137,442 shares of the oil and gas company’s stock valued at $650,000 after purchasing an additional 2,800 shares during the period. State of Alaska Department of Revenue increased its position in shares of RPC by 9.9% during the second quarter. State of Alaska Department of Revenue now owns 50,284 shares of the oil and gas company’s stock valued at $236,000 after buying an additional 4,515 shares during the period. Public Employees Retirement System of Ohio boosted its stake in RPC by 166.1% during the second quarter. Public Employees Retirement System of Ohio now owns 87,682 shares of the oil and gas company’s stock worth $415,000 after acquiring an additional 54,737 shares in the last quarter. Wedge Capital Management L L P NC boosted its stake in RPC by 25.7% during the second quarter. Wedge Capital Management L L P NC now owns 224,174 shares of the oil and gas company’s stock worth $1,060,000 after acquiring an additional 45,805 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its stake in shares of RPC by 30.0% in the second quarter. Exchange Traded Concepts LLC now owns 256,291 shares of the oil and gas company’s stock worth $1,212,000 after buying an additional 59,216 shares in the last quarter. Hedge funds and other institutional investors own 41.06% of the company’s stock.

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.