RPC (NYSE:RES) had its price target lowered by Wells Fargo & Co from $5.50 to $4.50 in a report issued on Thursday morning, BenzingaRatingsTable reports. The brokerage currently has an underperform rating on the oil and gas company’s stock.

Several other brokerages have also recently weighed in on RES. AltaCorp Capital reissued an underperform rating on shares of RPC in a research note on Thursday, June 20th. Morgan Stanley decreased their price target on RPC from $15.00 to $10.00 and set an overweight rating for the company in a research note on Friday, July 12th. Barclays reissued a sell rating and issued a $5.50 price target on shares of RPC in a research note on Sunday, July 28th. Citigroup set a $6.00 price target on RPC and gave the company a sell rating in a research note on Tuesday, July 2nd. Finally, Gabelli cut RPC from a buy rating to a hold rating in a research note on Thursday, July 25th. Nine analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. RPC currently has a consensus rating of Hold and an average price target of $10.42.

Shares of RES stock traded up $0.06 on Thursday, hitting $5.65. The company had a trading volume of 65,474 shares, compared to its average volume of 1,989,078. The firm has a market cap of $1.22 billion, a P/E ratio of 6.89, a P/E/G ratio of 95.88 and a beta of 1.08. The stock’s 50-day moving average is $5.67 and its two-hundred day moving average is $8.36. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.45 and a current ratio of 3.13. RPC has a twelve month low of $4.88 and a twelve month high of $17.24.

RPC (NYSE:RES) last issued its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). The company had revenue of $358.50 million during the quarter, compared to analyst estimates of $362.40 million. RPC had a net margin of 4.55% and a return on equity of 6.37%. The company’s quarterly revenue was down 23.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 EPS.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RES. Dimensional Fund Advisors LP grew its stake in RPC by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,738,161 shares of the oil and gas company’s stock worth $17,156,000 after purchasing an additional 13,560 shares during the period. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in RPC during the first quarter worth approximately $3,321,000. New York State Common Retirement Fund grew its stake in RPC by 19.3% during the first quarter. New York State Common Retirement Fund now owns 430,653 shares of the oil and gas company’s stock worth $4,914,000 after purchasing an additional 69,660 shares during the period. US Bancorp DE grew its stake in RPC by 178.6% during the first quarter. US Bancorp DE now owns 64,308 shares of the oil and gas company’s stock worth $734,000 after purchasing an additional 41,226 shares during the period. Finally, Dean Investment Associates LLC grew its stake in RPC by 25.2% during the first quarter. Dean Investment Associates LLC now owns 582,640 shares of the oil and gas company’s stock worth $6,648,000 after purchasing an additional 117,180 shares during the period. 33.79% of the stock is owned by institutional investors and hedge funds.

About RPC

RPC, Inc, through its subsidiaries, 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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