Stifel Nicolaus Trims RPC (NYSE:RES) Target Price to $7.00

RPC (NYSE:RES - Free Report) had its price target lowered by Stifel Nicolaus from $8.00 to $7.00 in a report released on Friday, Benzinga reports. Stifel Nicolaus currently has a hold rating on the oil and gas company's stock.

A number of other research analysts also recently weighed in on the company. Susquehanna lowered their target price on RPC from $7.00 to $6.50 and set a neutral rating on the stock in a report on Thursday, July 11th. Citigroup lowered their target price on RPC from $6.75 to $5.25 and set a sell rating on the stock in a report on Wednesday, July 10th.

RPC Price Performance

Shares of RPC stock traded down $0.03 during trading on Friday, hitting $7.03. 1,848,637 shares of the company's stock traded hands, compared to its average volume of 1,718,881. RPC has a 1 year low of $5.66 and a 1 year high of $9.26. The stock has a market capitalization of $1.51 billion, a P/E ratio of 12.75 and a beta of 1.55. The business has a 50-day simple moving average of $6.39 and a 200-day simple moving average of $6.69.

RPC (NYSE:RES - Get Free Report) last released its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.13 by $0.02. RPC had a return on equity of 11.52% and a net margin of 8.08%. The company had revenue of $364.20 million for the quarter, compared to analysts' expectations of $381.18 million. During the same period last year, the firm posted $0.30 earnings per share. RPC's revenue was down 12.4% compared to the same quarter last year. On average, equities analysts predict that RPC will post 0.56 earnings per share for the current fiscal year.

RPC Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend was Friday, August 9th. RPC's dividend payout ratio (DPR) is currently 29.09%.

Institutional Trading of RPC

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. CWM LLC lifted its stake in shares of RPC by 256.5% during the 2nd 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 last quarter. Register Financial Advisors LLC bought a new stake in shares of RPC during the 1st quarter worth approximately $39,000. Innealta Capital LLC bought a new stake in shares of RPC during the 2nd quarter worth approximately $44,000. Syon Capital LLC bought a new stake in shares of RPC during the 4th quarter worth approximately $82,000. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in shares of RPC by 38.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,821 shares of the oil and gas company's stock worth $93,000 after acquiring an additional 4,136 shares during the last quarter. Institutional investors 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.