RPC (NYSE:RES) Trading Down 2.9%

RPC, Inc. (NYSE:RES)’s share price fell 2.9% during trading on Tuesday . The company traded as low as $7.60 and last traded at $7.61. 376,930 shares changed hands during mid-day trading, a decline of 77% from the average session volume of 1,669,068 shares. The stock had previously closed at $7.84.

RPC Stock Performance

The stock has a market cap of $1.67 billion, a PE ratio of 8.54 and a beta of 1.60. The firm’s 50-day moving average is $7.29 and its 200 day moving average is $7.65.

RPC (NYSE:RES) last announced its earnings results on Thursday, January 25th. The oil and gas company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.01. The business had revenue of $394.50 million during the quarter, compared to the consensus estimate of $374.22 million. RPC had a net margin of 12.06% and a return on equity of 21.26%. The business’s quarterly revenue was down 18.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.41 earnings per share. On average, sell-side analysts predict that RPC, Inc. will post 0.88 EPS for the current fiscal year.

RPC Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 9th were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Thursday, February 8th. RPC’s dividend payout ratio (DPR) is presently 17.78%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Quarry LP grew its stake in RPC by 84.0% in the 1st quarter. Quarry LP now owns 3,764 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 1,718 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in RPC by 54.2% in the third quarter. Public Employees Retirement System of Ohio now owns 4,565 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 1,605 shares during the period. Signaturefd LLC lifted its position in RPC by 67.3% during the 4th quarter. Signaturefd LLC now owns 4,580 shares of the oil and gas company’s stock worth $33,000 after acquiring an additional 1,843 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of RPC by 632.1% in the fourth quarter. International Assets Investment Management LLC now owns 5,125 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 4,425 shares during the period. Finally, Advisor Group Holdings Inc. grew its stake in shares of RPC by 165.3% during the fourth quarter. Advisor Group Holdings Inc. now owns 5,076 shares of the oil and gas company’s stock valued at $46,000 after acquiring an additional 3,163 shares in the last quarter. 41.06% of the stock is currently owned by institutional investors and hedge funds.

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.