RPC (NYSE:RES – Get Free Report) had its price target dropped by stock analysts at Susquehanna from $7.50 to $6.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas company’s stock. Susquehanna’s price target points to a potential upside of 7.82% from the company’s previous close.
Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of RPC in a research note on Tuesday, April 14th. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $5.25.
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RPC Price Performance
RPC (NYSE:RES – Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The oil and gas company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02. RPC had a net margin of 1.20% and a return on equity of 4.82%. The company had revenue of $454.75 million during the quarter, compared to analysts’ expectations of $406.68 million. During the same quarter in the previous year, the company earned $0.06 EPS. RPC’s revenue was up 36.6% on a year-over-year basis. Research analysts expect that RPC will post 0.2 EPS for the current year.
Institutional Trading of RPC
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its holdings in shares of RPC by 220.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,533 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 4,495 shares during the last quarter. Tower Research Capital LLC TRC increased its position in RPC by 243.4% during the second quarter. Tower Research Capital LLC TRC now owns 8,681 shares of the oil and gas company’s stock worth $41,000 after buying an additional 6,153 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new stake in RPC in the fourth quarter valued at approximately $48,000. CWM LLC raised its stake in RPC by 88.2% in the 4th quarter. CWM LLC now owns 9,316 shares of the oil and gas company’s stock valued at $51,000 after acquiring an additional 4,365 shares during the period. Finally, Range Financial Group LLC bought a new stake in RPC in the 4th quarter valued at $59,000. Institutional investors and hedge funds 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.
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