RPC (NYSE:RES) Shares Up 6%

Shares of RPC, Inc. (NYSE:RES) rose 6% during mid-day trading on Tuesday . The stock traded as high as $6.43 and last traded at $6.41. Approximately 293,804 shares traded hands during trading, a decline of 82% from the average daily volume of 1,667,653 shares. The stock had previously closed at $6.05.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Citigroup reduced their target price on RPC from $6.75 to $5.25 and set a “sell” rating for the company in a research note on Wednesday, July 10th. Stifel Nicolaus reduced their price objective on shares of RPC from $8.00 to $7.00 and set a “hold” rating on the stock in a research note on Tuesday, July 16th. Finally, Susquehanna decreased their price objective on shares of RPC from $7.00 to $6.50 and set a “neutral” rating for the company in a report on Thursday, July 11th.

RPC Trading Up 2.8 %

The company has a market cap of $1.40 billion, a price-to-earnings ratio of 9.34 and a beta of 1.56. The firm has a 50-day moving average price of $6.32 and a 200 day moving average price of $6.78.

RPC (NYSE:RES) last released its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. The firm had revenue of $364.20 million during the quarter, compared to the consensus estimate of $381.18 million. RPC had a net margin of 8.08% and a return on equity of 11.52%. The firm’s revenue was down 12.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.30 earnings per share. Research analysts anticipate that RPC, Inc. will post 0.56 earnings per share for the current fiscal year.

RPC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a dividend of $0.04 per share. The ex-dividend date was Friday, August 9th. This represents a $0.16 annualized dividend and a yield of 2.44%. RPC’s dividend payout ratio (DPR) is 22.86%.

Institutional Trading of RPC

A number of institutional investors and hedge funds have recently made changes to their positions in RES. Bridge City Capital LLC lifted its position in RPC by 0.8% in the 1st quarter. Bridge City Capital LLC now owns 240,187 shares of the oil and gas company’s stock valued at $1,859,000 after purchasing an additional 1,851 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of RPC by 3.7% during the second quarter. The Manufacturers Life Insurance Company now owns 51,819 shares of the oil and gas company’s stock valued at $324,000 after buying an additional 1,869 shares during the last quarter. Swiss National Bank raised its holdings in shares of RPC by 1.4% during the first quarter. Swiss National Bank now owns 192,000 shares of the oil and gas company’s stock valued at $1,486,000 after buying an additional 2,600 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of RPC by 17.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 24,393 shares of the oil and gas company’s stock worth $189,000 after buying an additional 3,650 shares during the period. Finally, CWM LLC grew its holdings in RPC by 256.5% in the 2nd quarter. CWM LLC now owns 5,112 shares of the oil and gas company’s stock worth $32,000 after buying an additional 3,678 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.