RPC (NYSE:RES) Shares Gap Down to $7.92

RPC, Inc. (NYSE:RES)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $7.92, but opened at $7.37. RPC shares last traded at $7.08, with a volume of 1,014,865 shares traded.

Wall Street Analyst Weigh In

Separately, Susquehanna lifted their price objective on RPC from $6.50 to $8.00 and gave the stock a “neutral” rating in a research note on Monday, April 8th.

RPC Stock Performance

The stock has a market capitalization of $1.59 billion, a P/E ratio of 7.76 and a beta of 1.60. The company’s 50-day moving average price is $7.64 and its 200 day moving average price is $7.54.

RPC (NYSE:RES) last announced its quarterly earnings results on Thursday, January 25th. The oil and gas company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The firm had revenue of $394.50 million for the quarter, compared to the consensus estimate of $374.22 million. RPC had a net margin of 12.06% and a return on equity of 21.26%. The firm’s quarterly revenue was down 18.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.41 earnings per share. Analysts predict that RPC, Inc. will post 0.88 earnings per share for the current year.

RPC Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be paid a $0.94 dividend. This is a positive change from RPC’s previous quarterly dividend of $0.04. This represents a $3.76 dividend on an annualized basis and a yield of 51.09%. RPC’s payout ratio is currently 17.78%.

Institutional Investors Weigh In On RPC

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wasatch Advisors LP bought a new stake in RPC in the first quarter valued at approximately $1,239,000. Register Financial Advisors LLC purchased a new stake in RPC during the first quarter worth about $39,000. Bridge City Capital LLC boosted its stake in RPC by 0.8% in the first quarter. Bridge City Capital LLC now owns 240,187 shares of the oil and gas company’s stock valued at $1,859,000 after acquiring an additional 1,851 shares during the last quarter. ICA Group Wealth Management LLC purchased a new stake in shares of RPC during the 4th quarter worth approximately $47,000. Finally, Syon Capital LLC purchased a new stake in RPC in the fourth quarter worth $82,000. 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.