RPC (NYSE:RES) Given New $7.00 Price Target at Susquehanna

RPC (NYSE:RES) had its price objective decreased by stock analysts at Susquehanna from $8.00 to $7.00 in a report released on Friday, April 26th, Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas company’s stock. Susquehanna’s price objective would indicate a potential downside of 0.14% from the stock’s current price.

RPC Trading Up 3.5 %

NYSE RES traded up $0.24 during trading hours on Friday, reaching $7.01. 254,872 shares of the company traded hands, compared to its average volume of 1,633,451. The stock has a market capitalization of $1.50 billion, a PE ratio of 9.67 and a beta of 1.65. RPC has a 12 month low of $6.34 and a 12 month high of $9.41. The company has a 50 day moving average of $7.58 and a two-hundred day moving average of $7.43.

RPC (NYSE:RES) last released its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The firm had revenue of $377.80 million during the quarter, compared to analyst estimates of $393.33 million. RPC had a return on equity of 15.02% and a net margin of 9.95%. The firm’s revenue was down 20.7% on a year-over-year basis. During the same period last year, the business earned $0.39 EPS. On average, equities research analysts anticipate that RPC will post 0.71 earnings per share for the current year.

Institutional Investors Weigh In On RPC

Several institutional investors and hedge funds have recently made changes to their positions in RES. GSA Capital Partners LLP raised its holdings in RPC by 198.2% during the 1st quarter. GSA Capital Partners LLP now owns 123,811 shares of the oil and gas company’s stock worth $958,000 after purchasing an additional 82,293 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in RPC during the 1st quarter worth approximately $156,000. Jennison Associates LLC grew its stake in shares of RPC by 7.2% in the first quarter. Jennison Associates LLC now owns 102,009 shares of the oil and gas company’s stock valued at $790,000 after buying an additional 6,847 shares in the last quarter. Van ECK Associates Corp lifted its holdings in RPC by 0.7% during the 1st quarter. Van ECK Associates Corp now owns 2,998,405 shares of the oil and gas company’s stock valued at $23,207,000 after purchasing an additional 19,702 shares during the last quarter. Finally, Wasatch Advisors LP acquired a new stake in RPC during the 1st quarter valued at $1,239,000. Institutional investors and hedge funds 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.