Susquehanna Has Lowered Expectations for RPC (NYSE:RES) Stock Price

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 dropped by analysts at Susquehanna from $5.50 to $5.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a "neutral" rating on the oil and gas company's stock. Susquehanna's price target would indicate a potential upside of 2.77% from the stock's previous close.

RES has been the topic of several other reports. Stifel Nicolaus cut their price target on RPC from $6.00 to $5.00 and set a "hold" rating on the stock in a research report on Wednesday, July 16th. Citigroup upgraded RPC from a "sell" rating to a "neutral" rating and decreased their price objective for the company from $5.50 to $4.75 in a report on Tuesday, April 8th. Finally, Piper Sandler started coverage on RPC in a research note on Monday, July 14th. They set an "underweight" rating and a $5.00 price target on the stock.

RPC Trading Down 1.7%

RES stock traded down $0.09 during midday trading on Friday, reaching $4.87. 629,871 shares of the company traded hands, compared to its average volume of 1,656,001. RPC has a 52-week low of $4.10 and a 52-week high of $7.53. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.16 and a current ratio of 2.64. The business has a 50 day moving average of $4.84 and a 200-day moving average of $5.28. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 18.71 and a beta of 0.85.

RPC (NYSE:RES - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.01). The firm had revenue of $420.81 million during the quarter, compared to the consensus estimate of $421.08 million. RPC had a return on equity of 5.65% and a net margin of 3.77%. The firm's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period last year, the company earned $0.15 EPS. As a group, sell-side analysts expect that RPC will post 0.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RPC

A number of institutional investors have recently added to or reduced their stakes in RES. Dimensional Fund Advisors LP grew its position in RPC by 4.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 11,620,598 shares of the oil and gas company's stock worth $69,025,000 after purchasing an additional 459,700 shares during the last quarter. Vanguard Group Inc. increased its stake in RPC by 0.9% in 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 buying an additional 99,370 shares during the period. American Century Companies Inc. increased its stake in shares of RPC by 11.5% during the 1st quarter. American Century Companies Inc. now owns 3,388,807 shares of the oil and gas company's stock worth $18,638,000 after purchasing an additional 349,226 shares during the last quarter. Gamco Investors INC. ET AL boosted its holdings in shares of RPC by 3.3% during the 4th 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 period. Finally, Gabelli Funds LLC boosted its holdings in RPC by 0.3% in the 1st quarter. Gabelli Funds LLC now owns 2,269,415 shares of the oil and gas company's stock valued at $12,482,000 after purchasing an additional 6,938 shares during the period. Institutional investors and hedge funds 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.