RPC (NYSE:RES) Given New $7.00 Price Target at Stifel Nicolaus

RPC (NYSE:RES) had its price objective cut by Stifel Nicolaus from $8.00 to $7.00 in a research note published on Friday, Benzinga reports. They currently have a hold rating on the oil and gas company’s stock.

RES has been the topic of several other research reports. Citigroup dropped their target price on shares of RPC from $6.75 to $5.25 and set a sell rating on the stock in a research note on Wednesday, July 10th. Susquehanna cut their target price on RPC from $7.00 to $6.50 and set a neutral rating on the stock in a research note on Thursday, July 11th.

RPC Stock Performance

RES stock opened at $7.00 on Friday. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 10.00 and a beta of 1.55. The firm has a 50 day moving average price of $6.40 and a 200-day moving average price of $6.66. RPC has a 52-week low of $5.66 and a 52-week high of $9.26.

RPC (NYSE:RES) last announced its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. RPC had a return on equity of 11.52% and a net margin of 8.08%. The business had revenue of $364.20 million during the quarter, compared to analysts’ expectations of $381.18 million. During the same quarter in the previous year, the business earned $0.30 earnings per share. The firm’s quarterly revenue was down 12.4% compared to the same quarter last year. As a group, sell-side analysts forecast that RPC will post 0.56 earnings per share for the current fiscal year.

RPC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend was Friday, August 9th. RPC’s payout ratio is currently 22.86%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. CWM LLC raised its position in RPC by 256.5% in the second quarter. CWM LLC now owns 5,112 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 3,678 shares during the period. Register Financial Advisors LLC bought a new position in RPC in the 1st quarter worth $39,000. Innealta Capital LLC purchased a new position in RPC during the second quarter valued at $44,000. Syon Capital LLC bought a new stake in RPC during the fourth quarter valued at about $82,000. Finally, Vanguard Personalized Indexing Management LLC increased its position in RPC by 38.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,821 shares of the oil and gas company’s stock worth $93,000 after buying an additional 4,136 shares in 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.