RPC (NYSE:RES) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

RPC, Inc. (NYSE:RES) shares passed 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 traded.

Analyst Ratings Changes

A number of research analysts have issued reports on RES shares. Susquehanna lifted their price objective on RPC from $5.50 to $6.00 and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of RPC in a research report on Monday, December 29th. Piper Sandler reissued an “underweight” rating on shares of RPC in a research report on Thursday, December 18th. Citigroup lifted 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, December 11th. Finally, Wall Street Zen cut shares of RPC from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Four research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, RPC currently has an average rating of “Reduce” and an average price target of $5.25.

RPC Trading Up 0.2%

The company has a debt-to-equity ratio of 0.03, a current ratio of 3.24 and a quick ratio of 2.70. The stock’s 50-day moving average is $5.94 and its two-hundred day moving average is $5.33. The company has a market cap of $1.37 billion, a P/E ratio of 41.07 and a beta of 0.69.

RPC (NYSE:RES) last released its quarterly earnings results on Tuesday, February 3rd. The oil and gas company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). The firm had revenue of $425.78 million for the quarter, compared to the consensus estimate of $423.30 million. RPC had a net margin of 1.97% and a return on equity of 5.24%. RPC’s quarterly revenue was up 26.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.06 earnings per share. As a group, equities research analysts predict that RPC, Inc. will post 0.31 earnings per share for the current fiscal year.

RPC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 10th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Tuesday, February 10th. RPC’s dividend payout ratio (DPR) is presently 106.67%.

Hedge Funds Weigh In On RPC

Institutional investors and hedge funds have recently made changes to their positions in the business. IES Holdings Inc. purchased a new position in shares of RPC during the 4th quarter worth $14,144,000. Carolina Wealth Advisors LLC lifted its position in RPC by 7,851.8% during the third quarter. Carolina Wealth Advisors LLC now owns 1,277,544 shares of the oil and gas company’s stock valued at $6,081,000 after purchasing an additional 1,261,478 shares in the last quarter. Congress Asset Management Co. purchased a new position in RPC during the third quarter valued at $5,959,000. Goldman Sachs Group Inc. grew its holdings in RPC by 103.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,882,657 shares of the oil and gas company’s stock valued at $10,242,000 after purchasing an additional 956,370 shares during the period. Finally, Brandywine Global Investment Management LLC purchased a new stake in RPC in the second quarter worth about $4,465,000. Hedge funds and other institutional investors own 41.06% of the company’s stock.

RPC Company Profile

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.