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

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

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

RPC Trading Up 0.4 %

Shares of RES opened at $6.11 on Thursday. The company’s fifty day simple moving average is $6.21 and its 200 day simple moving average is $6.26. RPC has a 1-year low of $5.54 and a 1-year high of $8.19. The company has a market cap of $1.31 billion, a price-to-earnings ratio of 14.20 and a beta of 1.58.

RPC (NYSE:RES) last released its quarterly earnings data 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 net margin of 6.46% and a return on equity of 8.62%. As a group, research analysts forecast that RPC will post 0.31 earnings per share for the current year.

RPC Dividend Announcement

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

Institutional Investors Weigh In On RPC

Hedge funds have recently bought and sold shares of the stock. International Assets Investment Management LLC increased its stake in shares of 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 period. Nicholas Hoffman & Company LLC. acquired a new position in RPC in the 4th quarter valued at $59,000. GAMMA Investing LLC increased its position in RPC by 437.4% during the 4th quarter. GAMMA Investing LLC now owns 10,087 shares of the oil and gas company’s stock worth $60,000 after buying an additional 8,210 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of RPC during the fourth quarter worth $64,000. Finally, Ieq Capital LLC bought a new stake in shares of RPC in the fourth quarter valued at about $65,000. 41.06% of the stock is currently owned by institutional investors and hedge funds.

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.