RPC (NYSE:RES – Get Free Report) had its price target lifted by equities researchers at Citigroup from $7.00 to $8.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “sell” rating on the oil and gas company’s stock. Citigroup’s target price points to a potential downside of 5.21% from the company’s previous close.
A number of other equities research analysts also recently weighed in on RES. TheStreet upgraded shares of RPC from a “c+” rating to a “b” rating in a research note on Wednesday, July 26th. StockNews.com initiated coverage on shares of RPC in a research note on Thursday, October 5th. They issued a “hold” rating on the stock.
View Our Latest Stock Analysis on RPC
RPC Stock Up 1.8 %
RPC (NYSE:RES – Get Free Report) last released its earnings results on Wednesday, October 25th. The oil and gas company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.16). RPC had a net margin of 14.19% and a return on equity of 27.38%. The firm had revenue of $330.42 million during the quarter, compared to the consensus estimate of $377.70 million. Equities analysts predict that RPC will post 1.18 EPS for the current year.
Institutional Investors Weigh In On RPC
Hedge funds have recently added to or reduced their stakes in the business. Quarry LP boosted its position in RPC by 84.0% during the 1st quarter. Quarry LP now owns 3,764 shares of the oil and gas company’s stock worth $29,000 after buying an additional 1,718 shares during the period. Nisa Investment Advisors LLC raised its holdings in RPC by 132.7% during the 1st quarter. Nisa Investment Advisors LLC now owns 4,016 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 2,290 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in RPC by 109.9% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,274 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 2,238 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in RPC by 54.2% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 4,565 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 1,605 shares during the last quarter. Finally, Register Financial Advisors LLC bought a new position in RPC during the 1st quarter worth approximately $38,000. 36.53% of the stock is currently owned by institutional investors and hedge funds.
About RPC
RPC, Inc, through its subsidiaries, provides 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. It 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.
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