RPC (NYSE:RES) Shares Up 5.3% – What’s Next?

RPC, Inc. (NYSE:RES)’s share price rose 5.3% during trading on Monday . The stock traded as high as $5.45 and last traded at $5.4750. Approximately 340,489 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 1,611,052 shares. The stock had previously closed at $5.20.

Analyst Upgrades and Downgrades

RES has been the subject of several research analyst reports. Stifel Nicolaus decreased their target price on RPC from $6.00 to $5.00 and set a “hold” rating for the company in a research report on Wednesday, July 16th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of RPC in a report on Wednesday, October 8th. Piper Sandler decreased their price objective on RPC from $5.00 to $4.00 and set an “underweight” rating for the company in a report on Thursday, August 14th. Finally, Susquehanna reduced their target price on RPC from $5.50 to $5.00 and set a “neutral” rating on the stock in a research report on Friday, July 25th. Three investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, RPC presently has a consensus rating of “Reduce” and a consensus price target of $4.69.

RPC Price Performance

The company has a current ratio of 2.64, a quick ratio of 2.16 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 20.71 and a beta of 0.83. The firm has a 50-day simple moving average of $4.68 and a two-hundred day simple moving average of $4.75.

RPC (NYSE:RES) last announced its quarterly earnings results on Wednesday, November 16th. The oil and gas company reported $0.02 earnings per share for the quarter. RPC had a return on equity of 5.65% and a net margin of 3.77%.The company had revenue of $225.31 million during the quarter. As a group, analysts predict that RPC, Inc. will post 0.31 earnings per share for the current fiscal year.

RPC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th will be given a dividend of $0.04 per share. The ex-dividend date is Monday, November 10th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 3.0%. RPC’s dividend payout ratio (DPR) is 69.57%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC lifted its holdings in RPC by 220.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,533 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 4,495 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of RPC by 243.4% in the second quarter. Tower Research Capital LLC TRC now owns 8,681 shares of the oil and gas company’s stock valued at $41,000 after buying an additional 6,153 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of RPC in the second quarter worth about $47,000. State of Wyoming purchased a new position in shares of RPC in the first quarter worth about $53,000. Finally, Ethic Inc. acquired a new position in RPC during the third quarter worth about $63,000. Hedge funds and other institutional investors own 41.06% of the company’s stock.

About RPC

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.