RPC (NYSE:RES) Trading 6% Higher

Shares of RPC, Inc. (NYSE:RES) were up 6% during trading on Tuesday . The stock traded as high as $6.43 and last traded at $6.41. Approximately 293,804 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 1,667,653 shares. The stock had previously closed at $6.05.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Citigroup reduced their target price on shares of RPC from $6.75 to $5.25 and set a “sell” rating on the stock in a research report on Wednesday, July 10th. Stifel Nicolaus reduced their price objective on RPC from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Tuesday, July 16th. Finally, Susquehanna lowered their target price on RPC from $7.00 to $6.50 and set a “neutral” rating for the company in a report on Thursday, July 11th.

RPC Trading Up 6.6 %

The stock has a market cap of $1.39 billion, a PE ratio of 9.16 and a beta of 1.56. The firm’s 50-day moving average price is $6.30 and its two-hundred day moving average price is $6.79.

RPC (NYSE:RES) last announced its earnings results on Thursday, July 25th. The oil and gas company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.02. RPC had a return on equity of 11.52% and a net margin of 8.08%. The business had revenue of $364.20 million for the quarter, compared to analysts’ expectations of $381.18 million. During the same quarter last year, the firm earned $0.30 EPS. The business’s revenue for the quarter was down 12.4% on a year-over-year basis. On average, analysts anticipate that RPC, Inc. will post 0.56 earnings per share for the current year.

RPC Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a $0.04 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.16 dividend on an annualized basis and a yield of 2.48%. RPC’s dividend payout ratio is presently 22.86%.

Institutional Trading of RPC

Institutional investors have recently modified their holdings of the company. CWM LLC raised its stake in shares of RPC by 256.5% during the 2nd quarter. CWM LLC now owns 5,112 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 3,678 shares in the last quarter. Register Financial Advisors LLC acquired a new position in shares of RPC during the first quarter worth $39,000. Innealta Capital LLC purchased a new stake in shares of RPC during the 2nd quarter valued at $44,000. ICA Group Wealth Management LLC purchased a new stake in shares of RPC during the 4th quarter valued at $47,000. Finally, TFO Wealth Partners LLC boosted its position in shares of RPC by 304,100.0% in the 4th quarter. TFO Wealth Partners LLC now owns 9,126 shares of the oil and gas company’s stock worth $66,000 after purchasing an additional 9,123 shares in the last quarter. 41.06% of the stock is currently owned by institutional investors.

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.