RPC (NYSE:RES) Share Price Passes Above 200-Day Moving Average – Here’s What Happened

RPC, Inc. (NYSE:RES) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.35 and traded as high as $7.22. RPC shares last traded at $7.1460, with a volume of 1,406,609 shares trading hands.

Analyst Upgrades and Downgrades

RES has been the topic of several analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of RPC in a research note on Tuesday, April 14th. Susquehanna increased their price objective on RPC from $7.00 to $7.50 and gave the company a “neutral” rating in a research note on Friday, May 8th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $5.63.

RPC Stock Performance

The company has a debt-to-equity ratio of 0.03, a current ratio of 3.13 and a quick ratio of 2.61. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 79.40 and a beta of 0.62. The stock has a 50 day simple moving average of $7.10 and a two-hundred day simple moving average of $6.35.

RPC (NYSE:RES) last posted its quarterly earnings results on Thursday, May 7th. The oil and gas company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. RPC had a return on equity of 4.82% and a net margin of 1.20%.The company had revenue of $454.76 million for the quarter, compared to analysts’ expectations of $406.68 million. During the same period last year, the firm earned $0.06 earnings per share. RPC’s quarterly revenue was up 36.6% on a year-over-year basis. As a group, analysts anticipate that RPC, Inc. will post 0.2 earnings per share for the current year.

RPC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Monday, May 11th will be paid a $0.04 dividend. The ex-dividend date is Monday, May 11th. This represents a $0.16 dividend on an annualized basis and a yield of 2.2%. RPC’s dividend payout ratio (DPR) is currently 177.78%.

Institutional Trading of RPC

A number of hedge funds and other institutional investors have recently bought and sold shares of RES. AQR Capital Management LLC raised its stake in RPC by 1.1% in the first quarter. AQR Capital Management LLC now owns 544,365 shares of the oil and gas company’s stock valued at $2,994,000 after buying an additional 5,914 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in RPC by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,558 shares of the oil and gas company’s stock valued at $278,000 after buying an additional 2,190 shares in the last quarter. Strs Ohio acquired a new stake in RPC in the first quarter valued at $92,000. Rhumbline Advisers raised its stake in RPC by 3.2% in the second quarter. Rhumbline Advisers now owns 306,126 shares of the oil and gas company’s stock valued at $1,448,000 after buying an additional 9,481 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its stake in RPC by 51,372.2% in the second quarter. Russell Investments Group Ltd. now owns 118,386 shares of the oil and gas company’s stock valued at $560,000 after buying an additional 118,156 shares in the last quarter. 41.06% of the stock is currently owned by institutional investors and hedge funds.

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.