RPC (NYSE:RES) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

RPC, Inc. (NYSE:RES)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.33 and traded as high as $6.18. RPC shares last traded at $6.16, with a volume of 2,354,536 shares.

Wall Street Analysts Forecast Growth

RES has been the subject of several research reports. Wall Street Zen lowered RPC from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Susquehanna increased their price target on RPC from $5.50 to $6.00 and gave the company a “neutral” rating in a research report on Wednesday, January 7th. Piper Sandler restated an “underweight” rating on shares of RPC in a report on Thursday, December 18th. Citigroup upped their price objective on shares of RPC from $5.75 to $6.00 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of RPC in a report on Monday, December 29th. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $5.25.

RPC Price Performance

The stock has a fifty day moving average price of $5.96 and a 200-day moving average price of $5.34. The company has a market cap of $1.37 billion, a PE ratio of 41.07 and a beta of 0.69. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.24 and a quick ratio of 2.70.

RPC (NYSE:RES) last issued its quarterly earnings results on Tuesday, February 3rd. The oil and gas company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The business had revenue of $425.78 million for the quarter, compared to analysts’ expectations of $423.30 million. RPC had a net margin of 1.97% and a return on equity of 5.24%. The business’s quarterly revenue was up 26.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.06 EPS. On average, equities analysts expect that RPC, Inc. will post 0.31 earnings per share for the current year.

RPC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 10th will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Tuesday, February 10th. RPC’s dividend payout ratio is 106.67%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in 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 valued at $31,000 after acquiring an additional 4,495 shares in the last quarter. Tower Research Capital LLC TRC boosted 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 valued at $41,000 after purchasing an additional 6,153 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in RPC in the fourth quarter valued at about $48,000. Hantz Financial Services Inc. grew its stake in RPC by 940.3% in the third quarter. Hantz Financial Services Inc. now owns 9,113 shares of the oil and gas company’s stock valued at $43,000 after purchasing an additional 8,237 shares in the last quarter. Finally, CWM LLC increased its position in RPC by 88.2% in the 4th quarter. CWM LLC now owns 9,316 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 4,365 shares during the last quarter. Institutional investors and hedge funds own 41.06% of the company’s stock.

About RPC

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.