RPC (NYSE:RES) Share Price Passes Above 200 Day Moving Average - Here's Why

RPC, Inc. (NYSE:RES - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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 a number of recent analyst reports. Citigroup raised shares of RPC from a "sell" rating to a "neutral" rating and dropped their price target for the company from $5.50 to $4.75 in a research report on Tuesday, April 8th. Susquehanna dropped their price target on shares of RPC from $6.00 to $5.50 and set a "neutral" rating on the stock in a research report on Monday, April 14th.

RPC Price Performance

The firm's 50 day moving average price is $4.83 and its 200-day moving average price is $5.39. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 14.47 and a beta of 0.85.

RPC (NYSE:RES - Get Free Report) last announced its quarterly earnings data 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 analyst estimates of $326.72 million. RPC had a return on equity of 7.08% and a net margin of 5.55%. The company's revenue was down 11.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.13 EPS. Analysts expect that RPC, Inc. will post 0.31 EPS for the current year.

RPC Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th were paid a dividend of $0.04 per share. The ex-dividend date was Friday, May 9th. This represents a $0.16 dividend on an annualized basis and a yield of 3.07%. RPC's dividend payout ratio is currently 44.44%.

Institutional Investors Weigh In On RPC

A number of institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its holdings in shares of RPC by 4.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 11,620,598 shares of the oil and gas company's stock worth $69,025,000 after purchasing an additional 459,700 shares during the last quarter. Vanguard Group Inc. lifted its position in RPC by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 10,880,406 shares of the oil and gas company's stock valued at $64,630,000 after purchasing an additional 99,370 shares during the period. American Century Companies Inc. lifted its position in RPC by 11.5% during the 1st quarter. American Century Companies Inc. now owns 3,388,807 shares of the oil and gas company's stock valued at $18,638,000 after purchasing an additional 349,226 shares during the period. Gamco Investors INC. ET AL raised its position in shares of RPC by 3.3% in the 4th quarter. Gamco Investors INC. ET AL now owns 3,081,429 shares of the oil and gas company's stock valued at $18,304,000 after acquiring an additional 97,369 shares during the period. Finally, Gabelli Funds LLC raised its position in shares of RPC by 0.3% in the 1st quarter. Gabelli Funds LLC now owns 2,269,415 shares of the oil and gas company's stock valued at $12,482,000 after acquiring an additional 6,938 shares during the period. Institutional investors and hedge funds 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.