RPC (NYSE:RES) Shares Cross Above 200-Day Moving Average - What's Next?

Key Points

• RPC shares moved above their 200-day moving average, reaching $6.50 before last trading at $6.395, compared with the average of $6.36.
• Analyst sentiment remains cautious: RPC has a consensus rating of “Reduce” and a $6.00 price target, with three Holds and one Sell rating.
• The company’s latest quarter showed EPS of $0.08, beating estimates by $0.04, while revenue rose 9.5% year over year to $460.87 million; institutional investors own 41.06% of the stock.

RPC, Inc. (NYSE:RES - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $6.36 and traded as high as $6.50. RPC shares last traded at $6.3950, with a volume of 2,217,799 shares traded.

Wall Street Analyst Weigh In

A number of brokerages have commented on RES. Susquehanna reduced their target price on shares of RPC from $7.50 to $6.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 8th. Weiss Ratings cut shares of RPC from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, September 16th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, RPC currently has a consensus rating of "Reduce" and a consensus price target of $6.00.

RPC Price Performance

The company has a quick ratio of 2.76, a current ratio of 3.34 and a debt-to-equity ratio of 0.02. The company has a market cap of $1.42 billion, a PE ratio of 71.06 and a beta of 0.86. The stock has a 50-day simple moving average of $6.14 and a 200 day simple moving average of $6.36.

RPC (NYSE:RES - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.04 by $0.04. The business had revenue of $460.87 million for the quarter, compared to analyst estimates of $463.48 million. RPC had a return on equity of 4.82% and a net margin of 1.28%. The company's quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.08 EPS. Equities analysts expect that RPC, Inc. will post 0.26 EPS for the current year.

Institutional Trading of RPC

Several institutional investors and hedge funds have recently bought and sold shares of RES. GAMMA Investing LLC grew its stake in RPC by 28.7% during the third quarter. GAMMA Investing LLC now owns 7,892 shares of the oil and gas company's stock worth $44,000 after buying an additional 1,761 shares during the period. New York State Teachers Retirement System increased its position in shares of RPC by 19.4% in the first quarter. New York State Teachers Retirement System now owns 25,770 shares of the oil and gas company's stock worth $182,000 after acquiring an additional 4,181 shares in the last quarter. USA Financial Formulas purchased a new position in shares of RPC in the 3rd quarter valued at $40,000. State of Wyoming raised its stake in shares of RPC by 18.1% in the 1st quarter. State of Wyoming now owns 46,639 shares of the oil and gas company's stock valued at $330,000 after acquiring an additional 7,136 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of RPC by 1.9% during the 1st quarter. Principal Financial Group Inc. now owns 432,086 shares of the oil and gas company's stock valued at $3,059,000 after acquiring an additional 8,229 shares in the last quarter. 41.06% of the stock is currently owned by hedge funds and other institutional investors.

RPC Company Profile

RPC, Inc NYSE: RES is an oilfield services company that provides specialized equipment and services to energy producers and exploration and production companies. Its offerings support the drilling, completion, production and maintenance of oil and natural gas wells.

The company's services include pressure pumping, coiled tubing, well control, nitrogen services, downhole tools, well testing, fishing and rental equipment. These services are used in activities such as hydraulic fracturing, well intervention, workover operations and production enhancement.

RPC was founded in 1984 and is headquartered in Atlanta, Georgia.

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