RPC (NYSE:RES) Trading Down 2.9%

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

Wall Street Analyst Weigh In

Separately, Susquehanna lowered their price target on RPC from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Friday, April 26th.

RPC Price Performance

The stock’s 50 day simple moving average is $7.58 and its two-hundred day simple moving average is $7.43. The stock has a market capitalization of $1.51 billion, a PE ratio of 9.67 and a beta of 1.65.

RPC (NYSE:RES) last issued its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The company had revenue of $377.80 million for the quarter, compared to analysts’ expectations of $393.33 million. RPC had a return on equity of 15.02% and a net margin of 9.95%. The business’s revenue for the quarter was down 20.7% on a year-over-year basis. During the same period last year, the company posted $0.39 EPS. As a group, equities research analysts predict that RPC, Inc. will post 0.71 earnings per share for the current fiscal year.

RPC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be issued a $0.04 dividend. The ex-dividend date is Thursday, May 9th. This represents a $0.16 annualized dividend and a dividend yield of 2.28%. RPC’s payout ratio is currently 22.86%.

Hedge Funds Weigh In On RPC

Several institutional investors have recently modified their holdings of RES. Pacer Advisors Inc. lifted its stake in shares of RPC by 274.1% in the 4th quarter. Pacer Advisors Inc. now owns 8,277,488 shares of the oil and gas company’s stock valued at $60,260,000 after purchasing an additional 6,064,627 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of RPC by 7.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,684,052 shares of the oil and gas company’s stock worth $63,221,000 after acquiring an additional 579,638 shares during the period. Invesco Ltd. grew its holdings in RPC by 48.2% during the third quarter. Invesco Ltd. now owns 1,507,687 shares of the oil and gas company’s stock valued at $13,479,000 after purchasing an additional 490,538 shares during the period. Partnership Wealth Management LLC bought a new stake in RPC during the fourth quarter valued at about $1,855,000. Finally, American Century Companies Inc. grew its holdings in RPC by 41.4% during the third quarter. American Century Companies Inc. now owns 761,195 shares of the oil and gas company’s stock valued at $6,805,000 after purchasing an additional 222,888 shares during the period. 41.06% of the stock is currently owned by institutional investors.

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.