RPC (NYSE:RES) Trading Down 5.7% – Here’s What Happened

RPC, Inc. (NYSE:RES)’s stock price was down 5.7% during trading on Tuesday . The stock traded as low as $5.41 and last traded at $5.4150. Approximately 327,700 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 1,618,701 shares. The stock had previously closed at $5.74.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on RES shares. Citigroup increased their target price on shares of RPC from $5.75 to $6.00 and gave the stock a “neutral” rating in a report on Thursday. Wall Street Zen downgraded RPC from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of RPC in a research note on Monday, December 8th. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $5.00.

RPC Stock Performance

The stock’s 50 day moving average is $5.17 and its two-hundred day moving average is $4.90. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 23.37 and a beta of 0.63. The company has a current ratio of 2.78, a quick ratio of 2.31 and a debt-to-equity ratio of 0.03.

RPC (NYSE:RES) last released its quarterly earnings results on Wednesday, November 16th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter. The firm had revenue of $225.31 million for the quarter. RPC had a return on equity of 5.58% and a net margin of 3.12%. Analysts expect that RPC, Inc. will post 0.31 earnings per share for the current fiscal year.

RPC Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, November 10th. This represents a $0.16 dividend on an annualized basis and a yield of 3.0%. RPC’s dividend payout ratio is 69.57%.

Institutional Trading of RPC

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its holdings in RPC by 220.6% during the second 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 during the last quarter. Tower Research Capital LLC TRC increased its stake in RPC by 243.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,681 shares of the oil and gas company’s stock valued at $41,000 after buying an additional 6,153 shares during the last quarter. Hantz Financial Services Inc. lifted its position in RPC by 940.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 9,113 shares of the oil and gas company’s stock worth $43,000 after buying an additional 8,237 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of RPC during the 2nd quarter worth about $47,000. Finally, State of Wyoming bought a new position in shares of RPC in the 1st quarter valued at about $53,000. 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.