Susquehanna Issues Pessimistic Forecast for RPC (NYSE:RES) Stock Price

RPC (NYSE:RES - Get Free Report) had its target price lowered by stock analysts at Susquehanna from $6.00 to $5.50 in a report released on Monday,Benzinga reports. The brokerage currently has a "neutral" rating on the oil and gas company's stock. Susquehanna's price objective suggests a potential upside of 9.24% from the company's previous close.

Separately, Citigroup raised 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 report on Tuesday, April 8th.

RPC Price Performance

RES stock traded up $0.18 during midday trading on Monday, reaching $5.04. 1,677,073 shares of the company's stock traded hands, compared to its average volume of 1,725,232. RPC has a fifty-two week low of $4.10 and a fifty-two week high of $8.14. The company has a market capitalization of $1.09 billion, a P/E ratio of 11.71 and a beta of 1.27. The business has a 50-day moving average price of $5.36 and a two-hundred day moving average price of $5.95.

RPC (NYSE:RES - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates 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 fiscal year.

Institutional Trading of RPC

Large investors have recently added to or reduced their stakes in the business. Nicholas Hoffman & Company LLC. acquired a new position in shares of RPC in the fourth quarter worth about $59,000. GAMMA Investing LLC grew its stake in shares of RPC by 437.4% in the 4th quarter. GAMMA Investing LLC now owns 10,087 shares of the oil and gas company's stock valued at $60,000 after buying an additional 8,210 shares in the last quarter. Raymond James Financial Inc. bought a new position in RPC during the fourth quarter valued at about $64,000. Ieq Capital LLC bought a new position in shares of RPC in the fourth quarter valued at approximately $65,000. Finally, Vise Technologies Inc. acquired a new position in shares of RPC during the 4th quarter worth about $66,000. 41.06% of the stock is currently owned by institutional investors.

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.