RPC (NYSE:RES) Share Price Crosses Above 200 Day Moving Average - Here's What Happened

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on RES. Citigroup upgraded shares of 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 target price on shares of RPC from $6.00 to $5.50 and set a "neutral" rating on the stock in a research note on Monday, April 14th.

RPC Trading Down 0.7%

The company's 50 day moving average price is $4.84 and its two-hundred day moving average price is $5.39. The stock has a market cap of $1.14 billion, a P/E ratio of 14.40 and a beta of 0.85.

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

RPC Announces Dividend

The firm 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. This represents a $0.16 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend was Friday, May 9th. RPC's dividend payout ratio (DPR) is presently 44.44%.

Hedge Funds Weigh In On RPC

Several institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its stake in RPC by 4.1% during 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 acquiring an additional 459,700 shares during the period. Vanguard Group Inc. raised its stake 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 worth $64,630,000 after acquiring an additional 99,370 shares during the period. American Century Companies Inc. raised its stake 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 worth $18,638,000 after acquiring an additional 349,226 shares during the period. Gamco Investors INC. ET AL raised its stake in RPC by 3.3% during the 4th quarter. Gamco Investors INC. ET AL now owns 3,081,429 shares of the oil and gas company's stock worth $18,304,000 after acquiring an additional 97,369 shares during the period. Finally, Gabelli Funds LLC raised its stake in RPC by 0.3% during the 1st quarter. Gabelli Funds LLC now owns 2,269,415 shares of the oil and gas company's stock worth $12,482,000 after acquiring an additional 6,938 shares during the period. Institutional investors 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.