RPC (NYSE:RES) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

RPC, Inc. (NYSE:RES) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.46 and traded as high as $6.47. RPC shares last traded at $6.3450, with a volume of 1,508,930 shares.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Weiss Ratings cut shares of RPC from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, August 14th. Susquehanna lowered their price objective on RPC from $7.50 to $6.00 and set a “neutral” rating for the company in a research report on Wednesday, July 8th. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, RPC presently has a consensus rating of “Reduce” and an average price target of $6.00.

RPC Price Performance

The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of 70.78 and a beta of 0.67. The business’s fifty day simple moving average is $5.98 and its 200 day simple moving average is $6.45. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.34 and a quick ratio of 2.76.

RPC (NYSE:RES) last announced its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.04. The business had revenue of $460.87 million for the quarter, compared to analyst estimates of $463.48 million. RPC had a return on equity of 4.82% and a net margin of 1.28%.The company’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.08 earnings per share. On average, research analysts forecast that RPC, Inc. will post 0.26 EPS for the current year.

RPC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 10th will be given a $0.04 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $0.16 annualized dividend and a yield of 2.5%. RPC’s dividend payout ratio (DPR) is presently 177.78%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its holdings in shares of RPC by 220.6% during the second quarter. EverSource Wealth Advisors LLC now owns 6,533 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 4,495 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of RPC by 243.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,681 shares of the oil and gas company’s stock worth $41,000 after acquiring an additional 6,153 shares during the last quarter. Aster Capital Management DIFC Ltd bought a new position in RPC in the 4th quarter valued at about $48,000. State of Wyoming bought a new position in RPC in the 2nd quarter valued at about $54,000. Finally, CWM LLC boosted 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 last quarter. Institutional investors and hedge funds 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.