RPC (NYSE:RES) Trading Down 3.9% After Analyst Downgrade

RPC, Inc. (NYSE:RES) was down 3.9% during mid-day trading on Monday after Susquehanna lowered their price target on the stock from $6.50 to $6.00. Susquehanna currently has a neutral rating on the stock. RPC traded as low as $5.74 and last traded at $5.74. Approximately 694,788 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 1,722,234 shares. The stock had previously closed at $5.97.

A number of other equities research analysts also recently issued reports on RES. Stifel Nicolaus reduced their price target on RPC from $8.00 to $7.00 and set a “hold” rating on the stock in a research report on Friday, October 11th. Citigroup cut their price target on shares of RPC from $6.75 to $5.25 and set a “sell” rating for the company in a report on Wednesday, July 10th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC lifted its holdings in shares of RPC by 540.4% in the third quarter. International Assets Investment Management LLC now owns 4,560 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 3,848 shares during the last quarter. CWM LLC lifted its stake in RPC by 256.5% in the 2nd quarter. CWM LLC now owns 5,112 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 3,678 shares during the last quarter. Innealta Capital LLC acquired a new stake in RPC in the second quarter valued at approximately $44,000. Vanguard Personalized Indexing Management LLC grew its stake in shares of RPC by 38.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,821 shares of the oil and gas company’s stock worth $93,000 after buying an additional 4,136 shares during the last quarter. Finally, nVerses Capital LLC grew its stake in shares of RPC by 352.9% during the second quarter. nVerses Capital LLC now owns 15,400 shares of the oil and gas company’s stock worth $96,000 after buying an additional 12,000 shares during the last quarter. Institutional investors own 41.06% of the company’s stock.

RPC Trading Up 0.5 %

The company has a market capitalization of $1.24 billion, a P/E ratio of 10.34 and a beta of 1.55. The stock has a 50 day moving average price of $6.39 and a 200 day moving average price of $6.54.

RPC (NYSE:RES) last posted its earnings results on Thursday, October 24th. The oil and gas company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.04). RPC had a net margin of 8.07% and a return on equity of 11.36%. The firm had revenue of $337.70 million during the quarter, compared to the consensus estimate of $365.33 million. During the same quarter in the prior year, the business posted $0.08 earnings per share. RPC’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, research analysts predict that RPC, Inc. will post 0.55 EPS for the current year.

RPC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 11th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.16 annualized dividend and a yield of 2.76%. RPC’s dividend payout ratio is presently 28.57%.

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.