RPC (NYSE:RES) Stock Passes Above Two Hundred Day Moving Average - What's Next?

RPC, Inc. (NYSE:RES - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $5.39 and traded as high as $5.47. RPC shares last traded at $5.39, with a volume of 2,503,458 shares traded.

Wall Street Analyst Weigh In

RES has been the subject of several research reports. Citigroup raised RPC from a "sell" rating to a "neutral" rating and lowered their target price for the company from $5.50 to $4.75 in a research note on Tuesday, April 8th. Susquehanna lowered their price objective on RPC from $6.00 to $5.50 and set a "neutral" rating for the company in a research report on Monday, April 14th.

RPC Price Performance

The business's 50 day simple moving average is $4.85 and its 200-day simple moving average is $5.38. The stock has a market capitalization of $1.14 billion, a P/E ratio of 14.33 and a beta of 0.85.

RPC (NYSE:RES - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). The company had revenue of $332.88 million during the quarter, compared to the consensus estimate of $326.72 million. RPC had a return on equity of 7.08% and a net margin of 5.55%. The firm's revenue for the quarter was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.13 earnings per share. Research analysts anticipate that RPC, Inc. will post 0.31 earnings per share for the current fiscal year.

RPC Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were paid a $0.04 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 3.10%. RPC's dividend payout ratio (DPR) is presently 44.44%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Wedge Capital Management L L P NC raised its holdings in RPC by 25.7% in the second quarter. Wedge Capital Management L L P NC now owns 224,174 shares of the oil and gas company's stock worth $1,060,000 after purchasing an additional 45,805 shares during the period. Exchange Traded Concepts LLC increased its position in shares of RPC by 30.0% in the 2nd quarter. Exchange Traded Concepts LLC now owns 256,291 shares of the oil and gas company's stock valued at $1,212,000 after buying an additional 59,216 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in RPC during the 2nd quarter worth $69,000. Range Financial Group LLC acquired a new stake in RPC during the 2nd quarter worth $1,309,000. Finally, Strs Ohio bought a new position in RPC during the first quarter worth about $92,000. Institutional investors and hedge funds 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.