RPC (NYSE:RES) Shares Gap Up Following Dividend Announcement

RPC, Inc. (NYSE:RES)’s stock price gapped up before the market opened on Thursday after the company announced a dividend. The stock had previously closed at $6.42, but opened at $6.72. RPC shares last traded at $6.25, with a volume of 275,899 shares traded.

The newly announced dividend which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 2.56%. RPC’s dividend payout ratio is presently 28.57%.

Analysts Set New Price Targets

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

RPC Stock Down 2.7 %

The stock’s 50 day moving average is $6.26 and its 200-day moving average is $6.31. The company has a market cap of $1.34 billion, a PE ratio of 11.26 and a beta of 1.59.

RPC (NYSE:RES) last announced its quarterly earnings data on Thursday, January 30th. The oil and gas company reported $0.06 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.06. RPC had a net margin of 8.07% and a return on equity of 11.36%. On average, analysts anticipate that RPC, Inc. will post 0.43 EPS for the current fiscal year.

Institutional Trading of RPC

Institutional investors and hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC lifted its position in shares of RPC by 540.4% in the 3rd quarter. International Assets Investment Management LLC now owns 4,560 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 3,848 shares during the period. GAMMA Investing LLC increased its position in shares of RPC by 437.4% during the fourth quarter. GAMMA Investing LLC now owns 10,087 shares of the oil and gas company’s stock worth $60,000 after purchasing an additional 8,210 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of RPC by 383.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 11,312 shares of the oil and gas company’s stock valued at $67,000 after purchasing an additional 8,971 shares during the last quarter. Paloma Partners Management Co acquired a new position in RPC during the 3rd quarter valued at about $69,000. Finally, Townsquare Capital LLC purchased a new stake in RPC in the third quarter valued at about $73,000. 41.06% of the stock is currently owned by institutional investors.

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.