RPC (NYSE:RES) Trading Down 6.1% - Time to Sell?

RPC, Inc. (NYSE:RES - Get Free Report) fell 6.1% on Monday . The company traded as low as $4.84 and last traded at $4.83. 1,373,132 shares traded hands during trading, a decline of 18% from the average session volume of 1,673,327 shares. The stock had previously closed at $5.14.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RES. Susquehanna reduced their price objective on shares of RPC from $6.00 to $5.50 and set a "neutral" rating on the stock in a report on Monday, April 14th. Citigroup upgraded shares of RPC from a "sell" rating to a "neutral" rating and decreased their price objective for the stock from $5.50 to $4.75 in a report on Tuesday, April 8th.

RPC Stock Down 7.3%

The business's fifty day moving average is $4.83 and its two-hundred day moving average is $5.47. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 13.24 and a beta of 0.85.

RPC (NYSE:RES - Get Free Report) last released its earnings results on Thursday, April 24th. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.01). RPC had a net margin of 5.55% and a return on equity of 7.08%. The company had revenue of $332.88 million during the quarter, compared to analysts' expectations of $326.72 million. During the same quarter last year, the business posted $0.13 earnings per share. The company's revenue for the quarter was down 11.9% on a year-over-year basis. As a group, sell-side analysts expect that RPC, Inc. will post 0.31 earnings per share 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 given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend was Friday, May 9th. RPC's dividend payout ratio is presently 44.44%.

Institutional Investors Weigh In On RPC

Several institutional investors have recently modified their holdings of the company. State of Wyoming purchased a new position in RPC in the first quarter valued at approximately $53,000. Raymond James Financial Inc. acquired a new position in shares of RPC in the 4th quarter valued at $64,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in RPC during the 1st quarter worth $64,000. Ieq Capital LLC purchased a new stake in RPC in the fourth quarter valued at $65,000. Finally, Vise Technologies Inc. acquired a new position in RPC in the fourth quarter valued at $66,000. 41.06% of the stock is owned by hedge funds and other institutional investors.

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.

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