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

RPC (NYSE:RES) had its price objective reduced by equities research analysts at Susquehanna from $7.50 to $6.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas company’s stock. Susquehanna’s target price indicates a potential upside of 7.82% from the company’s current price.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of RPC in a report on Tuesday, April 14th. Four investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $5.25.

RPC Price Performance

Shares of NYSE:RES opened at $5.57 on Wednesday. The company has a market cap of $1.23 billion, a price-to-earnings ratio of 61.83 and a beta of 0.64. The business has a 50 day moving average price of $6.79 and a 200 day moving average price of $6.46. The company has a quick ratio of 2.61, a current ratio of 3.13 and a debt-to-equity ratio of 0.03. RPC has a twelve month low of $4.18 and a twelve month high of $8.16.

RPC (NYSE:RES) last issued its quarterly earnings results on Thursday, May 7th. The oil and gas company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. RPC had a return on equity of 4.82% and a net margin of 1.20%.The company had revenue of $454.75 million during the quarter, compared to analyst estimates of $406.68 million. During the same period in the previous year, the company earned $0.06 earnings per share. The company’s quarterly revenue was up 36.6% compared to the same quarter last year. Research analysts predict that RPC will post 0.2 earnings per share for the current year.

Hedge Funds Weigh In On RPC

Hedge funds and other institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its stake in RPC by 7.6% during the first quarter. Dimensional Fund Advisors LP now owns 12,543,337 shares of the oil and gas company’s stock worth $88,809,000 after acquiring an additional 883,118 shares in the last quarter. State Street Corp grew its stake in RPC by 6.1% during the fourth quarter. State Street Corp now owns 4,049,407 shares of the oil and gas company’s stock worth $22,029,000 after buying an additional 233,646 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of RPC by 8.4% during the third quarter. American Century Companies Inc. now owns 3,960,190 shares of the oil and gas company’s stock worth $18,851,000 after buying an additional 308,361 shares in the last quarter. IES Holdings Inc. bought a new position in shares of RPC in the fourth quarter valued at approximately $14,144,000. Finally, Van ECK Associates Corp raised its position in RPC by 13.0% in the 4th quarter. Van ECK Associates Corp now owns 2,508,890 shares of the oil and gas company’s stock valued at $13,648,000 after purchasing an additional 288,917 shares during the last quarter. Institutional investors own 41.06% of the company’s stock.

RPC Company Profile

RPC, Inc (NYSE: RES) provides essential equipment and services to companies engaged in the exploration, production and maintenance of oil and natural gas wells. The firm operates as an equity interest holding company, partnering with a network of independent service businesses to deliver a comprehensive suite of offerings for well completion and production operations.

Through its affiliated service companies, RPC offers pressure pumping and fracturing services, coiled tubing and nitrogen pumping, downhole tools and telemetry solutions, well intervention and workover services, along with rental tools and supply-chain logistics.