Citigroup Issues Positive Forecast for RPC (NYSE:RES) Stock Price

RPC (NYSE:RES - Free Report) had its price objective boosted by Citigroup from $5.25 to $5.50 in a report published on Thursday morning,Benzinga reports. The firm currently has a sell rating on the oil and gas company's stock.

Separately, Susquehanna decreased their target price on shares of RPC from $6.50 to $6.00 and set a "neutral" rating for the company in a research report on Friday, October 25th.

RPC Trading Down 3.0 %

RES traded down $0.19 on Thursday, reaching $5.92. The company had a trading volume of 1,726,763 shares, compared to its average volume of 1,469,514. The company has a fifty day moving average of $6.20 and a 200-day moving average of $6.25. The company has a market capitalization of $1.27 billion, a P/E ratio of 13.76 and a beta of 1.58. RPC has a one year low of $5.54 and a one year high of $8.19.

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

RPC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Monday, February 10th. RPC's payout ratio is 37.21%.

Institutional Investors Weigh In On RPC

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Pacer Advisors Inc. lifted its holdings in RPC by 38.9% in the 3rd quarter. Pacer Advisors Inc. now owns 12,029,993 shares of the oil and gas company's stock valued at $76,511,000 after acquiring an additional 3,371,490 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings 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 valued at $69,025,000 after acquiring an additional 459,700 shares during the last quarter. Vanguard Group Inc. lifted its holdings 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 acquiring an additional 99,370 shares during the last quarter. State Street Corp lifted its stake in RPC by 6.2% during the third quarter. State Street Corp now owns 4,202,844 shares of the oil and gas company's stock valued at $26,730,000 after buying an additional 245,372 shares in the last quarter. Finally, Gamco Investors INC. ET AL boosted its holdings in shares of RPC by 3.3% in the fourth 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. 41.06% of the stock is 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.