RPC (NYSE:RES) Shares Gap Down – What’s Next?

RPC, Inc. (NYSE:RES)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $6.94, but opened at $6.70. RPC shares last traded at $6.70, with a volume of 228,236 shares.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RES. Citigroup lowered their target price on RPC from $6.75 to $5.25 and set a “sell” rating on the stock in a research report on Wednesday, July 10th. Susquehanna lowered their price target on RPC from $7.00 to $6.50 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Finally, Stifel Nicolaus cut their price objective on RPC from $8.00 to $7.00 and set a “hold” rating for the company in a report on Friday, October 11th.

RPC Stock Performance

The company has a market capitalization of $1.37 billion, a P/E ratio of 9.11 and a beta of 1.55. The stock’s fifty day moving average price is $6.42 and its 200-day moving average price is $6.66.

RPC (NYSE:RES) last released its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.02. RPC had a return on equity of 11.52% and a net margin of 8.08%. The firm had revenue of $364.20 million for the quarter, compared to analyst estimates of $381.18 million. During the same quarter in the prior year, the company earned $0.30 earnings per share. The business’s revenue for the quarter was down 12.4% compared to the same quarter last year. On average, research analysts predict that RPC, Inc. will post 0.56 EPS for the current fiscal year.

RPC Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were issued a $0.04 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.16 annualized dividend and a dividend yield of 2.50%. RPC’s dividend payout ratio is currently 22.86%.

Institutional Trading of RPC

Hedge funds have recently modified their holdings of the stock. CWM LLC lifted its holdings in shares of RPC by 256.5% during the second quarter. CWM LLC now owns 5,112 shares of the oil and gas company’s stock worth $32,000 after buying an additional 3,678 shares in the last quarter. Register Financial Advisors LLC bought a new stake in RPC in the 1st quarter valued at about $39,000. Innealta Capital LLC bought a new stake in RPC in the 2nd quarter valued at about $44,000. Syon Capital LLC acquired a new position in shares of RPC during the 4th quarter worth approximately $82,000. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in shares of RPC by 38.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,821 shares of the oil and gas company’s stock worth $93,000 after purchasing an additional 4,136 shares during the period. 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.