RPC (NYSE:RES) Trading Down 9.7% – What’s Next?

Shares of RPC, Inc. (NYSE:RES) were down 9.7% on Wednesday . The company traded as low as $5.70 and last traded at $5.8360. 375,902 shares traded hands during trading, a decline of 83% from the average daily volume of 2,241,286 shares. The stock had previously closed at $6.46.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RES. Weiss Ratings restated a “hold (c)” rating on shares of RPC in a research note on Tuesday, April 14th. Susquehanna upped their price target on shares of RPC from $7.00 to $7.50 and gave the company a “neutral” rating in a research note on Friday, May 8th. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, RPC currently has an average rating of “Reduce” and an average price target of $5.62.

RPC Price Performance

The company has a quick ratio of 2.61, a current ratio of 3.13 and a debt-to-equity ratio of 0.03. The company’s 50 day moving average is $7.08 and its 200 day moving average is $6.47. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 62.61 and a beta of 0.62.

RPC (NYSE:RES) last issued its quarterly earnings data on Thursday, May 7th. The oil and gas company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.02. RPC had a net margin of 1.20% and a return on equity of 4.82%. The business had revenue of $454.75 million during the quarter, compared to analysts’ expectations of $406.68 million. During the same quarter in the previous year, the company earned $0.06 EPS. The business’s revenue was up 36.6% on a year-over-year basis. On average, equities research analysts anticipate that RPC, Inc. will post 0.2 earnings per share for the current fiscal year.

RPC Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Monday, May 11th were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date was Monday, May 11th. RPC’s dividend payout ratio (DPR) is 177.78%.

Institutional Trading of RPC

A number of institutional investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its holdings in shares of RPC by 220.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,533 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 4,495 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in RPC by 243.4% during the second quarter. Tower Research Capital LLC TRC now owns 8,681 shares of the oil and gas company’s stock worth $41,000 after purchasing an additional 6,153 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in RPC during the fourth quarter worth about $48,000. CWM LLC grew its stake in RPC by 88.2% during the fourth quarter. CWM LLC now owns 9,316 shares of the oil and gas company’s stock worth $51,000 after buying an additional 4,365 shares in the last quarter. Finally, Range Financial Group LLC acquired a new stake in RPC during the fourth quarter worth about $59,000. 41.06% of the stock is currently owned by institutional investors.

RPC Company Profile

RPC, Inc (NYSE: RES) provides essential equipment and services to companies engaged in the exploration, production and maintenance of oil and natural gas wells. The firm operates as an equity interest holding company, partnering with a network of independent service businesses to deliver a comprehensive suite of offerings for well completion and production operations.

Through its affiliated service companies, RPC offers pressure pumping and fracturing services, coiled tubing and nitrogen pumping, downhole tools and telemetry solutions, well intervention and workover services, along with rental tools and supply-chain logistics.