RPC (NYSE:RES) Stock Price Down 5.8% – Here’s What Happened

RPC, Inc. (NYSE:RES)’s share price fell 5.8% on Friday . The company traded as low as $6.01 and last traded at $6.01. 119,742 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 1,672,640 shares. The stock had previously closed at $6.38.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Susquehanna lowered their target price on shares of RPC from $6.50 to $6.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Stifel Nicolaus decreased their price objective on RPC from $8.00 to $7.00 and set a “hold” rating on the stock in a research note on Friday, October 11th.

RPC Stock Performance

The stock has a 50-day moving average price of $6.32 and a 200-day moving average price of $6.35. The stock has a market cap of $1.29 billion, a P/E ratio of 10.73 and a beta of 1.61.

RPC (NYSE:RES) last released its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). The company had revenue of $337.70 million during the quarter, compared to analysts’ expectations of $365.33 million. RPC had a return on equity of 11.36% and a net margin of 8.07%. RPC’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.08 EPS. Sell-side analysts forecast that RPC, Inc. will post 0.43 earnings per share for the current fiscal year.

RPC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 11th will be paid a $0.04 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.16 dividend on an annualized basis and a yield of 2.67%. RPC’s dividend payout ratio is presently 28.57%.

Institutional Investors Weigh In On RPC

Several institutional investors have recently added to or reduced their stakes in RES. International Assets Investment Management LLC increased its stake in shares of RPC by 540.4% during the third quarter. International Assets Investment Management LLC now owns 4,560 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 3,848 shares during the period. CWM LLC lifted its position in shares of RPC by 256.5% in the 2nd quarter. CWM LLC now owns 5,112 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 3,678 shares during the period. Innealta Capital LLC bought a new stake in shares of RPC during the 2nd quarter valued at about $44,000. Paloma Partners Management Co purchased a new stake in RPC in the third quarter worth about $69,000. Finally, Townsquare Capital LLC purchased a new position in RPC during the third quarter valued at $73,000. Hedge funds and other institutional investors 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.