Susquehanna Lowers RPC (NYSE:RES) Price Target to $5.50

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

Separately, Citigroup upgraded shares of RPC from a "sell" rating to a "neutral" rating and reduced their target price for the stock from $5.50 to $4.75 in a report on Tuesday, April 8th.

RPC Price Performance

RES stock traded up $0.18 during trading hours on Monday, reaching $5.04. 1,677,073 shares of the stock were exchanged, compared to its average volume of 1,725,232. The firm's 50-day moving average is $5.36 and its 200-day moving average is $5.95. RPC has a 12 month low of $4.10 and a 12 month high of $8.14. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 11.71 and a beta of 1.27.

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 return on equity of 8.62% and a net margin of 6.46%. As a group, equities research analysts forecast that RPC will post 0.31 earnings per share for the current year.

Institutional Trading of RPC

Several institutional investors and hedge funds have recently added to or reduced their stakes in RES. Dimensional Fund Advisors LP increased its stake in shares of RPC by 4.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 11,620,598 shares of the oil and gas company's stock worth $69,025,000 after purchasing an additional 459,700 shares during the last quarter. Vanguard Group Inc. increased its position in RPC by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 10,880,406 shares of the oil and gas company's stock worth $64,630,000 after buying an additional 99,370 shares during the last quarter. State Street Corp raised its stake in RPC by 6.2% in 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 during the period. Gamco Investors INC. ET AL lifted its position 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 valued at $18,304,000 after buying an additional 97,369 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of RPC by 11.2% during the 4th quarter. American Century Companies Inc. now owns 3,039,581 shares of the oil and gas company's stock worth $18,055,000 after acquiring an additional 306,976 shares during the period. 41.06% of the stock is 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.