RPC (NYSE:RES) Trading Up 3%

Shares of RPC, Inc. (NYSE:RES) were up 3% on Tuesday . The company traded as high as $6.61 and last traded at $6.55. Approximately 169,793 shares changed hands during trading, a decline of 90% from the average daily volume of 1,711,014 shares. The stock had previously closed at $6.36.

Wall Street Analysts Forecast Growth

RES has been the subject of several research analyst reports. Stifel Nicolaus reduced their price objective on RPC from $8.00 to $7.00 and set a “hold” rating for the company in a report on Tuesday, July 16th. Citigroup cut their price target on RPC from $6.75 to $5.25 and set a “sell” rating for the company in a research note on Wednesday, July 10th. Finally, Susquehanna lowered their price objective on shares of RPC from $7.00 to $6.50 and set a “neutral” rating on the stock in a research note on Thursday, July 11th.

RPC Stock Performance

The business has a 50-day moving average of $6.38 and a 200 day moving average of $6.72. The stock has a market cap of $1.43 billion, a PE ratio of 9.09 and a beta of 1.56.

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

RPC Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a $0.04 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.16 annualized dividend and a yield of 2.40%. RPC’s payout ratio is currently 22.86%.

Institutional Trading of RPC

Hedge funds have recently added to or reduced their stakes in the business. CWM LLC lifted its holdings in shares of RPC by 256.5% during the 2nd quarter. CWM LLC now owns 5,112 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 3,678 shares during the period. Register Financial Advisors LLC purchased a new stake in shares of RPC during the 1st quarter valued at $39,000. Innealta Capital LLC acquired a new stake in shares of RPC during the 2nd quarter worth $44,000. ICA Group Wealth Management LLC purchased a new position in shares of RPC in the 4th quarter worth $47,000. Finally, TFO Wealth Partners LLC boosted its holdings in RPC by 304,100.0% in the fourth quarter. TFO Wealth Partners LLC now owns 9,126 shares of the oil and gas company’s stock valued at $66,000 after acquiring an additional 9,123 shares during the last quarter. 41.06% of the stock is 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.