RPC (NYSE:RES) Trading Down 9.7% – Time to Sell?

Shares of RPC, Inc. (NYSE:RES) traded down 9.7% on Wednesday . The stock traded as low as $5.70 and last traded at $5.8360. 375,902 shares were traded during mid-day trading, a decline of 83% from the average session volume of 2,241,286 shares. The stock had previously closed at $6.46.

Wall Street Analysts Forecast Growth

RES has been the subject of a number of research reports. Susquehanna increased their price objective on RPC from $7.00 to $7.50 and gave the stock a “neutral” rating in a report on Friday, May 8th. Weiss Ratings restated a “hold (c)” rating on shares of RPC in a report on Tuesday, April 14th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, RPC has an average rating of “Reduce” and an average price target of $5.62.

RPC Trading Up 3.8%

The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.61 and a current ratio of 3.13. The company has a market cap of $1.32 billion, a P/E ratio of 65.94 and a beta of 0.62. The stock has a 50-day moving average of $7.04 and a two-hundred day moving average of $6.47.

RPC (NYSE:RES) last released its earnings results on Thursday, May 7th. The oil and gas company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02. RPC had a return on equity of 4.82% and a net margin of 1.20%.The business had revenue of $454.75 million for the quarter, compared to the consensus estimate of $406.68 million. During the same period in the previous year, the company posted $0.06 earnings per share. The company’s revenue for the quarter was up 36.6% compared to the same quarter last year. On average, equities research analysts predict that RPC, Inc. will post 0.2 earnings per share for the current year.

RPC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, May 11th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Monday, May 11th. RPC’s dividend payout ratio is 177.78%.

Institutional Investors Weigh In On RPC

Several institutional investors and hedge funds have recently made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its position in RPC by 220.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,533 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 4,495 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of RPC by 243.4% during the second quarter. Tower Research Capital LLC TRC now owns 8,681 shares of the oil and gas company’s stock valued at $41,000 after purchasing an additional 6,153 shares in the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in shares of RPC during the fourth quarter valued at $48,000. CWM LLC increased its holdings in RPC by 88.2% in the 4th quarter. CWM LLC now owns 9,316 shares of the oil and gas company’s stock worth $51,000 after buying an additional 4,365 shares in the last quarter. Finally, Range Financial Group LLC purchased a new position in RPC in the 4th quarter worth about $59,000. Institutional investors own 41.06% of the company’s stock.

About RPC

RPC, Inc (NYSE: RES) provides essential equipment and services to companies engaged in the exploration, production and maintenance of oil and natural gas wells. The firm operates as an equity interest holding company, partnering with a network of independent service businesses to deliver a comprehensive suite of offerings for well completion and production operations.

Through its affiliated service companies, RPC offers pressure pumping and fracturing services, coiled tubing and nitrogen pumping, downhole tools and telemetry solutions, well intervention and workover services, along with rental tools and supply-chain logistics.