RPC (NYSE:RES) Price Target Lowered to $7.00 at Stifel Nicolaus

RPC (NYSE:RES) had its price target cut by analysts at Stifel Nicolaus from $8.00 to $7.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “hold” rating on the oil and gas company’s stock. Stifel Nicolaus’ price target would indicate a potential downside of 0.14% from the company’s current price.

Several other analysts also recently weighed in on the company. Citigroup lowered 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. Susquehanna decreased their target price on RPC from $7.00 to $6.50 and set a “neutral” rating for the company in a report on Thursday, July 11th.

RPC Trading Down 0.7 %

Shares of NYSE RES traded down $0.05 during midday trading on Friday, hitting $7.01. 338,565 shares of the company’s stock were exchanged, compared to its average volume of 1,711,216. RPC has a 12-month low of $5.66 and a 12-month high of $9.26. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 12.75 and a beta of 1.55. The business’s fifty day moving average price is $6.39 and its two-hundred day moving average price is $6.69.

RPC (NYSE:RES) last released its earnings results on Thursday, July 25th. The oil and gas company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. The company had revenue of $364.20 million during the quarter, compared to the consensus estimate of $381.18 million. RPC had a return on equity of 11.52% and a net margin of 8.08%. RPC’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 EPS. Equities analysts expect that RPC will post 0.56 earnings per share for the current fiscal year.

Institutional Investors Weigh In On RPC

Institutional investors have recently modified their holdings of the stock. CWM LLC grew its stake in shares of RPC by 256.5% in the second quarter. CWM LLC now owns 5,112 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 3,678 shares during the last quarter. Register Financial Advisors LLC bought a new position in shares of RPC in the first quarter worth about $39,000. Innealta Capital LLC bought a new position in shares of RPC in the second quarter worth about $44,000. Syon Capital LLC bought a new position in shares of RPC in the fourth quarter worth about $82,000. Finally, Vanguard Personalized Indexing Management LLC grew its position in shares of RPC by 38.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,821 shares of the oil and gas company’s stock worth $93,000 after purchasing an additional 4,136 shares in the last quarter. 41.06% of the stock is owned by hedge funds and other 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.