RPC (NYSE:RES) Shares Down 4.1% – What’s Next?

RPC, Inc. (NYSE:RES) traded down 4.1% during mid-day trading on Wednesday . The stock traded as low as $5.05 and last traded at $5.08. 121,619 shares were traded during mid-day trading, a decline of 92% from the average session volume of 1,487,561 shares. The stock had previously closed at $5.29.

Analyst Upgrades and Downgrades

Separately, Citigroup boosted their target price on RPC from $5.25 to $5.50 and gave the company a “sell” rating in a research report on Thursday, February 20th.

RPC Price Performance

The firm has a market capitalization of $1.16 billion, a P/E ratio of 12.50 and a beta of 1.52. The firm has a 50-day moving average price of $6.16 and a two-hundred day moving average price of $6.20.

RPC (NYSE:RES) last announced its quarterly earnings data on Thursday, January 30th. The oil and gas company reported $0.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.06. RPC had a net margin of 6.46% and a return on equity of 8.62%. Sell-side analysts predict that RPC, Inc. will post 0.31 earnings per share for the current fiscal year.

RPC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.98%. RPC’s payout ratio is 37.21%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC lifted its holdings in shares of RPC by 540.4% in the 3rd quarter. International Assets Investment Management LLC now owns 4,560 shares of the oil and gas company’s stock worth $29,000 after buying an additional 3,848 shares during the period. Nicholas Hoffman & Company LLC. bought a new position in RPC during the 4th quarter worth about $59,000. GAMMA Investing LLC increased its position in RPC by 437.4% during the 4th quarter. GAMMA Investing LLC now owns 10,087 shares of the oil and gas company’s stock valued at $60,000 after purchasing an additional 8,210 shares during the period. Raymond James Financial Inc. bought a new stake in shares of RPC in the 4th quarter valued at about $64,000. Finally, Ieq Capital LLC purchased a new stake in shares of RPC in the 4th quarter worth approximately $65,000. Institutional investors own 41.06% of the company’s stock.

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.