RPC (NYSE:RES) was downgraded by equities research analysts at Citigroup from a “neutral” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. They presently have a $8.00 target price on the oil and gas company’s stock, down from their prior target price of $11.00. Citigroup‘s price target indicates a potential downside of 26.94% from the company’s previous close.

A number of other analysts have also recently commented on the company. Zacks Investment Research raised RPC from a “strong sell” rating to a “hold” rating in a research report on Friday, October 12th. Credit Suisse Group set a $14.00 price target on RPC and gave the stock a “hold” rating in a research report on Thursday, October 25th. Macquarie set a $13.00 price objective on RPC and gave the company a “hold” rating in a research report on Thursday, October 25th. Barclays set a $13.00 price objective on RPC and gave the company a “hold” rating in a research report on Thursday, October 25th. Finally, Raymond James cut RPC from an “outperform” rating to a “market perform” rating in a research report on Thursday, December 13th. Eight analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company. RPC currently has an average rating of “Hold” and an average target price of $14.60.

Shares of NYSE:RES opened at $10.95 on Wednesday. RPC has a 1 year low of $9.35 and a 1 year high of $25.75. The stock has a market cap of $2.33 billion, a P/E ratio of 16.59, a price-to-earnings-growth ratio of 1.20 and a beta of 0.99. The company has a current ratio of 3.74, a quick ratio of 3.01 and a debt-to-equity ratio of 0.01.

RPC (NYSE:RES) last announced its quarterly earnings results on Wednesday, October 24th. The oil and gas company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.04). RPC had a net margin of 12.40% and a return on equity of 20.48%. The business had revenue of $439.99 million for the quarter, compared to analysts’ expectations of $456.54 million. During the same quarter in the prior year, the firm earned $0.26 EPS. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. On average, analysts expect that RPC will post 0.83 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC increased its stake in shares of RPC by 125.2% in the 3rd quarter. FMR LLC now owns 2,540,280 shares of the oil and gas company’s stock worth $39,324,000 after purchasing an additional 1,412,519 shares in the last quarter. First Trust Advisors LP increased its stake in shares of RPC by 539.1% in the 3rd quarter. First Trust Advisors LP now owns 938,087 shares of the oil and gas company’s stock worth $14,522,000 after purchasing an additional 791,299 shares in the last quarter. BlueMountain Capital Management LLC increased its stake in shares of RPC by 4,461.4% in the 3rd quarter. BlueMountain Capital Management LLC now owns 585,365 shares of the oil and gas company’s stock worth $9,061,000 after purchasing an additional 572,532 shares in the last quarter. Federated Investors Inc. PA increased its stake in shares of RPC by 108.7% in the 3rd quarter. Federated Investors Inc. PA now owns 759,907 shares of the oil and gas company’s stock worth $11,763,000 after purchasing an additional 395,831 shares in the last quarter. Finally, Royce & Associates LP increased its stake in shares of RPC by 25.8% in the 3rd quarter. Royce & Associates LP now owns 1,473,091 shares of the oil and gas company’s stock worth $22,803,000 after purchasing an additional 302,200 shares in the last quarter. Institutional investors and hedge funds own 32.97% of the company’s stock.

About RPC

RPC, Inc provides 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 offers pressure pumping, fracturing, acidizing, 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.

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Analyst Recommendations for RPC (NYSE:RES)

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