RPC (NYSE:RES) Stock Price Passes Above 200-Day Moving Average – What’s Next?

RPC, Inc. (NYSE:RES)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $6.35 and traded as high as $7.22. RPC shares last traded at $7.1460, with a volume of 1,406,609 shares traded.

Wall Street Analyst Weigh In

Several research analysts have issued reports on RES shares. Susquehanna raised their target price on RPC from $7.00 to $7.50 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RPC in a research note on Tuesday, April 14th. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, RPC currently has a consensus rating of “Reduce” and a consensus price target of $5.63.

RPC Price Performance

The firm has a 50 day moving average price of $7.09 and a 200 day moving average price of $6.38. The company has a quick ratio of 2.61, a current ratio of 3.13 and a debt-to-equity ratio of 0.03. The stock has a market cap of $1.59 billion, a P/E ratio of 79.61 and a beta of 0.62.

RPC (NYSE:RES) last posted its quarterly earnings data 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 firm had revenue of $454.76 million for the quarter, compared to the consensus estimate of $406.68 million. During the same quarter last year, the company earned $0.06 earnings per share. The business’s revenue for the quarter was up 36.6% compared to the same quarter last year. On average, analysts forecast that RPC, Inc. will post 0.2 EPS for the current fiscal year.

RPC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Monday, May 11th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Monday, May 11th. This represents a $0.16 annualized dividend and a dividend yield of 2.2%. RPC’s dividend payout ratio (DPR) is 177.78%.

Institutional Trading of RPC

Several institutional investors and hedge funds have recently added to or reduced their stakes in RES. EverSource Wealth Advisors LLC raised its stake in RPC by 220.6% during 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 purchasing an additional 4,495 shares during the period. Tower Research Capital LLC TRC raised its stake in RPC by 243.4% during the 2nd 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 during the period. Hantz Financial Services Inc. raised its stake in RPC by 940.3% during the 3rd quarter. Hantz Financial Services Inc. now owns 9,113 shares of the oil and gas company’s stock valued at $43,000 after purchasing an additional 8,237 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in RPC during the 4th quarter valued at approximately $48,000. Finally, CWM LLC raised its stake in RPC by 88.2% during the 4th quarter. CWM LLC now owns 9,316 shares of the oil and gas company’s stock valued at $51,000 after purchasing an additional 4,365 shares during the period. 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.