RPC (NYSE:RES) Price Target Lowered to $5.00 at Susquehanna

Key Points

• Susquehanna has lowered RPC's price target from $5.50 to $5.00, maintaining a "neutral" rating on the stock.
• RPC reported a Q2 EPS of $0.08, missing analysts' expectations, despite a 15.5% year-over-year revenue growth.
• Institutional investors now hold 41.06% of RPC's stock, reflecting significant trading activity among hedge funds.

RPC (NYSE:RES - Get Free Report) had its price objective lowered by research analysts at Susquehanna from $5.50 to $5.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the oil and gas company's stock. Susquehanna's price objective indicates a potential upside of 3.41% from the company's current price.

Several other research analysts also recently issued reports on RES. Piper Sandler set a $5.00 price objective on RPC and gave the company an "underweight" rating in a research note on Monday, July 14th. Stifel Nicolaus lowered their price objective on shares of RPC from $6.00 to $5.00 and set a "hold" rating for the company in a research note on Wednesday, July 16th. Finally, Citigroup upgraded shares of RPC from a "sell" rating to a "neutral" rating and decreased their price target for the company from $5.50 to $4.75 in a research note on Tuesday, April 8th.

RPC Price Performance

RES stock opened at $4.84 on Friday. The stock has a market capitalization of $1.07 billion, a price-to-earnings ratio of 13.43 and a beta of 0.85. The business's fifty day moving average price is $4.84 and its two-hundred day moving average price is $5.31. RPC has a fifty-two week low of $4.10 and a fifty-two week high of $7.53.

RPC (NYSE:RES - Get Free Report) last issued its earnings results on Thursday, July 24th. The oil and gas company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.01). RPC had a return on equity of 7.08% and a net margin of 5.55%. The business had revenue of $420.81 million for the quarter, compared to analyst estimates of $421.08 million. During the same period in the previous year, the firm posted $0.15 EPS. The firm's revenue was up 15.5% compared to the same quarter last year. Research analysts expect that RPC will post 0.31 EPS for the current year.

Institutional Trading of RPC

Hedge funds and other institutional investors have recently bought and sold shares of the business. Jane Street Group LLC grew its stake in shares of RPC by 1,009.5% in the 4th quarter. Jane Street Group LLC now owns 82,124 shares of the oil and gas company's stock worth $488,000 after acquiring an additional 74,722 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of RPC by 265.4% in the 1st quarter. GAMMA Investing LLC now owns 36,856 shares of the oil and gas company's stock worth $203,000 after buying an additional 26,769 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of RPC in the 4th quarter worth about $69,000. Ameriprise Financial Inc. boosted its holdings in shares of RPC by 3.6% in the 4th quarter. Ameriprise Financial Inc. now owns 650,616 shares of the oil and gas company's stock worth $3,865,000 after buying an additional 22,348 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of RPC by 16.1% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 32,014 shares of the oil and gas company's stock worth $191,000 after buying an additional 4,450 shares during the last quarter. Institutional investors own 41.06% of the company's stock.

RPC Company Profile

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.

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