RPC (NYSE:RES) Shares Gap Down to $7.92

RPC, Inc. (NYSE:RES - Get Free Report) shares gapped down before the market opened on Thursday . The stock had previously closed at $7.92, but opened at $7.37. RPC shares last traded at $7.08, with a volume of 1,014,865 shares.

Analyst Ratings Changes

Separately, Susquehanna increased their price target on shares of RPC from $6.50 to $8.00 and gave the stock a "neutral" rating in a report on Monday, April 8th.

RPC Price Performance

The stock's 50-day moving average is $7.64 and its 200-day moving average is $7.53. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 8.18 and a beta of 1.60.

RPC (NYSE:RES - Get Free Report) last announced its quarterly earnings results on Thursday, January 25th. The oil and gas company reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.01. The company had revenue of $394.50 million for the quarter, compared to analyst estimates of $374.22 million. RPC had a net margin of 12.06% and a return on equity of 21.26%. RPC's revenue for the quarter was down 18.2% on a year-over-year basis. During the same quarter last year, the business earned $0.41 EPS. Analysts predict that RPC, Inc. will post 0.88 EPS for the current fiscal year.

RPC Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be paid a dividend of $0.94 per share. This is an increase from RPC's previous quarterly dividend of $0.04. This represents a $3.76 annualized dividend and a yield of 51.09%. RPC's payout ratio is 17.78%.

Institutional Investors Weigh In On RPC

Hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC boosted its stake in RPC by 7.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 22,901 shares of the oil and gas company's stock valued at $205,000 after purchasing an additional 1,548 shares during the period. Rhumbline Advisers raised its holdings in shares of RPC by 0.6% during the third quarter. Rhumbline Advisers now owns 292,076 shares of the oil and gas company's stock valued at $2,611,000 after acquiring an additional 1,606 shares during the period. Signaturefd LLC raised its holdings in shares of RPC by 67.3% during the fourth quarter. Signaturefd LLC now owns 4,580 shares of the oil and gas company's stock valued at $33,000 after acquiring an additional 1,843 shares during the period. Bridge City Capital LLC raised its holdings in shares of RPC by 0.8% during the first quarter. Bridge City Capital LLC now owns 240,187 shares of the oil and gas company's stock valued at $1,859,000 after acquiring an additional 1,851 shares during the period. Finally, Arizona State Retirement System increased its stake in RPC by 10.5% in the 4th quarter. Arizona State Retirement System now owns 27,224 shares of the oil and gas company's stock valued at $198,000 after buying an additional 2,581 shares during the period. Institutional investors own 41.06% of the company's stock.

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.