RPC (NYSE:RES) Stock Price Passes Above Two Hundred Day Moving Average - Here's Why

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Citigroup raised RPC from a "sell" rating to a "neutral" rating and cut their price objective for the company from $5.50 to $4.75 in a report on Tuesday, April 8th. Susquehanna cut their price target on RPC from $6.00 to $5.50 and set a "neutral" rating for the company in a report on Monday, April 14th.

RPC Stock Performance

The firm has a fifty day simple moving average of $4.83 and a 200-day simple moving average of $5.39. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 14.97 and a beta of 0.85.

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

RPC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date was Friday, May 9th. RPC's dividend payout ratio is currently 44.44%.

Institutional Investors Weigh In On RPC

Hedge funds and other institutional investors have recently modified their holdings of the company. Jane Street Group LLC lifted its holdings in shares of RPC by 1,009.5% during the fourth quarter. Jane Street Group LLC now owns 82,124 shares of the oil and gas company's stock worth $488,000 after buying an additional 74,722 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of RPC by 265.4% during the first quarter. GAMMA Investing LLC now owns 36,856 shares of the oil and gas company's stock worth $203,000 after buying an additional 26,769 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of RPC during the fourth quarter worth $69,000. Ameriprise Financial Inc. increased its position in shares of RPC by 3.6% in the fourth quarter. Ameriprise Financial Inc. now owns 650,616 shares of the oil and gas company's stock worth $3,865,000 after purchasing an additional 22,348 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in shares of RPC by 16.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,014 shares of the oil and gas company's stock worth $191,000 after purchasing an additional 4,450 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.

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