RPC (NYSE:RES) Given New $5.50 Price Target at Citigroup

RPC (NYSE:RES) had its target price raised by Citigroup from $5.25 to $5.50 in a report released on Thursday morning,Benzinga reports. They currently have a sell rating on the oil and gas company’s stock.

Separately, Susquehanna decreased their price objective on RPC from $6.50 to $6.00 and set a “neutral” rating for the company in a research report on Friday, October 25th.

RPC Stock Performance

RES opened at $6.11 on Thursday. RPC has a twelve month low of $5.54 and a twelve month high of $8.19. The firm has a market cap of $1.31 billion, a PE ratio of 14.20 and a beta of 1.58. The firm’s fifty day moving average is $6.21 and its two-hundred day moving average is $6.26.

RPC (NYSE:RES) last posted its earnings results 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 return on equity of 8.62% and a net margin of 6.46%. Equities analysts forecast that RPC will post 0.31 EPS for the current fiscal year.

RPC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend is Monday, February 10th. RPC’s dividend payout ratio is 37.21%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in RPC in the 3rd quarter valued at approximately $156,000. CWM LLC lifted its position in shares of RPC by 130.0% in the third quarter. CWM LLC now owns 11,758 shares of the oil and gas company’s stock worth $75,000 after purchasing an additional 6,646 shares in the last quarter. Creative Planning boosted its holdings in RPC by 6.9% during the third quarter. Creative Planning now owns 258,055 shares of the oil and gas company’s stock worth $1,641,000 after purchasing an additional 16,584 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in RPC by 540.4% during the third quarter. International Assets Investment Management LLC now owns 4,560 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 3,848 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new position in RPC in the third quarter valued at $100,000. 41.06% of the stock is owned by institutional investors and hedge funds.

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.