Citigroup Increases RPC (NYSE:RES) Price Target to $5.50

RPC (NYSE:RES) had its price target upped by analysts at Citigroup from $5.25 to $5.50 in a report released on Thursday,Benzinga reports. The brokerage currently has a “sell” rating on the oil and gas company’s stock. Citigroup’s target price suggests a potential downside of 7.02% from the stock’s previous close.

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

RPC Price Performance

RES opened at $5.92 on Thursday. The firm has a market cap of $1.27 billion, a PE ratio of 13.76 and a beta of 1.58. The stock has a 50-day moving average price of $6.20 and a 200-day moving average price of $6.25. RPC has a 1 year low of $5.54 and a 1 year high of $8.19.

RPC (NYSE:RES) last issued its earnings results on Thursday, January 30th. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. RPC had a net margin of 6.46% and a return on equity of 8.62%. As a group, sell-side analysts anticipate that RPC will post 0.31 EPS for the current year.

Institutional Investors Weigh In On RPC

A number of large investors have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. boosted its stake in shares of RPC by 38.9% in the 3rd quarter. Pacer Advisors Inc. now owns 12,029,993 shares of the oil and gas company’s stock worth $76,511,000 after buying an additional 3,371,490 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of RPC by 4.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 11,620,598 shares of the oil and gas company’s stock valued at $69,025,000 after purchasing an additional 459,700 shares during the period. Vanguard Group Inc. grew its stake in shares of RPC by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 10,880,406 shares of the oil and gas company’s stock valued at $64,630,000 after purchasing an additional 99,370 shares during the period. State Street Corp increased its position in shares of RPC by 6.2% during the 3rd quarter. State Street Corp now owns 4,202,844 shares of the oil and gas company’s stock valued at $26,730,000 after purchasing an additional 245,372 shares during the last quarter. Finally, Gamco Investors INC. ET AL boosted its holdings in shares of RPC by 3.3% in the fourth quarter. Gamco Investors INC. ET AL now owns 3,081,429 shares of the oil and gas company’s stock worth $18,304,000 after buying an additional 97,369 shares during the last quarter. Institutional investors own 41.06% of the company’s stock.

About RPC

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.