Susquehanna Issues Pessimistic Forecast for RPC (NYSE:RES) Stock Price

RPC (NYSE:RES) had its price target cut by analysts at Susquehanna from $5.50 to $5.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas company’s stock. Susquehanna’s target price indicates a potential upside of 4.28% from the company’s current price.

RES has been the topic of a number of other reports. Citigroup upgraded RPC from a “sell” rating to a “neutral” rating and lowered their price objective for the company from $5.50 to $4.75 in a research note on Tuesday, April 8th. Stifel Nicolaus reduced their target price on shares of RPC from $6.00 to $5.00 and set a “hold” rating for the company in a research note on Wednesday, July 16th. Finally, Piper Sandler set a $5.00 price target on shares of RPC and gave the company an “underweight” rating in a research note on Monday, July 14th.

RPC Stock Performance

NYSE RES opened at $4.80 on Friday. The company has a market capitalization of $1.06 billion, a PE ratio of 18.44 and a beta of 0.85. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.18 and a current ratio of 2.64. RPC has a 52-week low of $4.10 and a 52-week high of $7.53. The company has a 50-day simple moving average of $4.84 and a 200 day simple moving average of $5.30.

RPC (NYSE:RES) last posted its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). RPC had a return on equity of 5.65% and a net margin of 3.77%. The company had revenue of $420.81 million during the quarter, compared to the consensus estimate of $421.08 million. During the same period last year, the firm posted $0.15 EPS. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. On average, research analysts predict that RPC will post 0.31 EPS for the current year.

Institutional Trading of RPC

A number of hedge funds and other institutional investors have recently bought and sold shares of RES. Jane Street Group LLC raised its position in shares of RPC by 1,009.5% in the fourth quarter. Jane Street Group LLC now owns 82,124 shares of the oil and gas company’s stock worth $488,000 after buying an additional 74,722 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of RPC by 265.4% in the 1st quarter. GAMMA Investing LLC now owns 36,856 shares of the oil and gas company’s stock valued at $203,000 after acquiring an additional 26,769 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of RPC during the 4th quarter valued at about $69,000. Ameriprise Financial Inc. grew its holdings in shares of RPC by 3.6% during the fourth quarter. Ameriprise Financial Inc. now owns 650,616 shares of the oil and gas company’s stock worth $3,865,000 after purchasing an additional 22,348 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of RPC by 16.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,014 shares of the oil and gas company’s stock worth $191,000 after purchasing an additional 4,450 shares in the last quarter. Institutional investors 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.