RPC (NYSE:RES) Shares Pass Above Two Hundred Day Moving Average – What’s Next?

RPC, Inc. (NYSE:RES) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.43 and traded as high as $6.89. RPC shares last traded at $6.71, with a volume of 1,904,422 shares.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on RES shares. Weiss Ratings reissued a “hold (c)” rating on shares of RPC in a report on Tuesday, April 14th. Susquehanna raised their price target on RPC from $7.00 to $7.50 and gave the stock a “neutral” rating in a report on Friday, May 8th. Four investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $5.63.

RPC Stock Performance

The stock’s 50-day moving average price is $7.10 and its 200-day moving average price is $6.43. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 74.56 and a beta of 0.62. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.61 and a current ratio of 3.13.

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

RPC Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Monday, May 11th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.16 annualized dividend and a dividend yield of 2.4%. RPC’s payout ratio is 177.78%.

Institutional Investors Weigh In On RPC

Several institutional investors have recently modified their holdings of the company. Thrivent Financial for Lutherans boosted its stake in shares of RPC by 3.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 64,164 shares of the oil and gas company’s stock worth $305,000 after acquiring an additional 1,970 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of RPC by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,558 shares of the oil and gas company’s stock worth $278,000 after acquiring an additional 2,190 shares in the last quarter. Mariner LLC boosted its stake in shares of RPC by 3.3% during the 3rd quarter. Mariner LLC now owns 76,699 shares of the oil and gas company’s stock worth $365,000 after acquiring an additional 2,446 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of RPC by 2.1% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 128,551 shares of the oil and gas company’s stock worth $699,000 after acquiring an additional 2,648 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its stake in shares of RPC by 1.7% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 204,551 shares of the oil and gas company’s stock worth $1,113,000 after acquiring an additional 3,411 shares in the last quarter. 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.