Citigroup Upgrades RPC (NYSE:RES) to "Neutral"

RPC (NYSE:RES - Get Free Report) was upgraded by analysts at Citigroup from a "sell" rating to a "neutral" rating in a research note issued to investors on Tuesday, MarketBeat.com reports. The firm presently has a $4.75 price target on the oil and gas company's stock, down from their prior price target of $5.50. Citigroup's price objective indicates a potential downside of 1.35% from the company's current price.

RPC Trading Up 3.3 %

NYSE RES traded up $0.16 on Tuesday, reaching $4.82. The stock had a trading volume of 2,026,591 shares, compared to its average volume of 1,717,012. RPC has a 1 year low of $4.10 and a 1 year high of $8.19. The business has a 50 day moving average price of $5.47 and a 200 day moving average price of $5.99. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 11.20 and a beta of 1.27.

RPC (NYSE:RES - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The oil and gas company reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. RPC had a return on equity of 8.62% and a net margin of 6.46%. On average, analysts anticipate that RPC will post 0.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RES. Barclays PLC lifted its position in RPC by 230.1% during the 3rd quarter. Barclays PLC now owns 182,943 shares of the oil and gas company's stock worth $1,163,000 after acquiring an additional 127,525 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of RPC by 17.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 489,401 shares of the oil and gas company's stock worth $3,113,000 after purchasing an additional 71,064 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in RPC by 7.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,509,478 shares of the oil and gas company's stock valued at $9,600,000 after purchasing an additional 106,108 shares during the period. State Street Corp boosted its stake in 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 period. Finally, HB Wealth Management LLC grew its holdings in RPC by 12.9% in the 4th quarter. HB Wealth Management LLC now owns 32,280 shares of the oil and gas company's stock valued at $192,000 after buying an additional 3,697 shares during the last quarter. 41.06% of the stock is currently owned by institutional investors and hedge funds.

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.