RPC (NYSE:RES) Shares Gap Down – Time to Sell?

RPC, Inc. (NYSE:RES) gapped down before the market opened on Thursday . The stock had previously closed at $6.94, but opened at $6.70. RPC shares last traded at $6.70, with a volume of 228,236 shares changing hands.

Analysts Set New Price Targets

A number of analysts have issued reports on RES shares. Citigroup decreased their target price on RPC from $6.75 to $5.25 and set a “sell” rating for the company in a research report on Wednesday, July 10th. Susquehanna decreased their price objective on RPC from $7.00 to $6.50 and set a “neutral” rating for the company in a report on Thursday, July 11th. Finally, Stifel Nicolaus lowered their price objective on RPC from $8.00 to $7.00 and set a “hold” rating on the stock in a research note on Friday, October 11th.

RPC Stock Performance

The business’s 50 day moving average is $6.42 and its two-hundred day moving average is $6.65. The firm has a market capitalization of $1.38 billion, a PE ratio of 11.64 and a beta of 1.55.

RPC (NYSE:RES) last issued its earnings results on Thursday, July 25th. The oil and gas company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.13 by $0.02. RPC had a return on equity of 11.52% and a net margin of 8.08%. The business had revenue of $364.20 million during the quarter, compared to the consensus estimate of $381.18 million. During the same quarter last year, the company earned $0.30 EPS. The firm’s revenue was down 12.4% compared to the same quarter last year. As a group, equities research analysts predict that RPC, Inc. will post 0.55 EPS for the current year.

RPC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 2.50%. The ex-dividend date was Friday, August 9th. RPC’s dividend payout ratio is presently 29.09%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Bridge City Capital LLC raised its position in shares of RPC by 0.8% in the first quarter. Bridge City Capital LLC now owns 240,187 shares of the oil and gas company’s stock worth $1,859,000 after buying an additional 1,851 shares in the last quarter. The Manufacturers Life Insurance Company grew 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 worth $324,000 after purchasing an additional 1,869 shares in the last quarter. Swiss National Bank increased its position in shares of RPC by 1.4% in the first quarter. Swiss National Bank now owns 192,000 shares of the oil and gas company’s stock worth $1,486,000 after purchasing an additional 2,600 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in 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 valued at $189,000 after purchasing an additional 3,650 shares during the last quarter. Finally, CWM LLC grew 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 worth $32,000 after buying an additional 3,678 shares in the last quarter. 41.06% of the stock is currently owned by hedge funds and other institutional investors.

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.