RPC (NYSE:RES) Stock Price Passes Above Two Hundred Day Moving Average – Time to Sell?

Shares of RPC, Inc. (NYSE:RES) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.43 and traded as high as $6.89. RPC shares last traded at $6.71, with a volume of 1,904,422 shares.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on RES shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RPC in a research report on Tuesday, April 14th. Susquehanna boosted their target price on shares of RPC from $7.00 to $7.50 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average target price of $5.62.

RPC Price Performance

The stock has a 50 day moving average of $7.09 and a 200-day moving average of $6.44. 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 $1.46 billion, a PE ratio of 73.06 and a beta of 0.62.

RPC (NYSE:RES) last posted its quarterly earnings results on Thursday, May 7th. The oil and gas company reported $0.03 earnings per share for the quarter, beating 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 quarter in the previous year, the business earned $0.06 EPS. The company’s quarterly revenue was up 36.6% compared to the same quarter last year. Equities analysts predict that RPC, Inc. will post 0.2 earnings per share for the current year.

RPC Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, May 11th were given a $0.04 dividend. The ex-dividend date was Monday, May 11th. This represents a $0.16 dividend on an annualized basis and a yield of 2.4%. RPC’s dividend payout ratio is currently 177.78%.

Hedge Funds Weigh In On RPC

Institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its holdings in shares of 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 during the last quarter. Tower Research Capital LLC TRC raised 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 worth $41,000 after purchasing an additional 6,153 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in RPC during the fourth quarter valued at $48,000. CWM LLC lifted its position in RPC by 88.2% during the fourth 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. Finally, Range Financial Group LLC purchased a new stake in RPC in the fourth quarter valued at $59,000. 41.06% of the stock is owned by hedge funds and other institutional investors.

RPC Company Profile

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.