RPC (NYSE:RES) Shares Pass Above 200-Day Moving Average - Here's Why

RPC, Inc. (NYSE:RES - Get Free Report) 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 trading hands.

Wall Street Analyst Weigh In

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

RPC Trading Down 0.8%

The stock has a market capitalization of $1.14 billion, a PE ratio of 14.33 and a beta of 0.85. The firm has a 50 day moving average price of $4.84 and a 200 day moving average price of $5.39.

RPC (NYSE:RES - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.06 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 analysts' expectations of $326.72 million. RPC had a return on equity of 7.08% and a net margin of 5.55%. The company's revenue for the quarter was down 11.9% on a year-over-year basis. During the same quarter last year, the company earned $0.13 earnings per share. On average, equities research analysts expect that RPC, Inc. will post 0.31 EPS for the current year.

RPC Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 3.10%. RPC's dividend payout ratio (DPR) is 44.44%.

Institutional Investors Weigh In On RPC

Hedge funds and other institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in RPC by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,368 shares of the oil and gas company's stock worth $287,000 after buying an additional 1,697 shares in the last quarter. Franklin Resources Inc. increased its stake in RPC by 3.8% in the 4th quarter. Franklin Resources Inc. now owns 48,030 shares of the oil and gas company's stock worth $285,000 after buying an additional 1,758 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in RPC by 9.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 21,950 shares of the oil and gas company's stock worth $130,000 after buying an additional 1,850 shares in the last quarter. SummerHaven Investment Management LLC increased its stake in RPC by 1.8% in the 1st quarter. SummerHaven Investment Management LLC now owns 134,642 shares of the oil and gas company's stock worth $741,000 after buying an additional 2,346 shares in the last quarter. Finally, Comerica Bank increased its stake in RPC by 3.6% in the 4th quarter. Comerica Bank now owns 86,007 shares of the oil and gas company's stock worth $511,000 after buying an additional 2,979 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, 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.