RPC (NYSE:RES) Stock Price Crosses Above 200-Day Moving Average – Here’s Why

RPC, Inc. (NYSE:RES) shares passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $5.33 and traded as high as $6.18. RPC shares last traded at $6.16, with a volume of 2,354,536 shares.

Analyst Upgrades and Downgrades

RES has been the subject of several recent research reports. Wall Street Zen downgraded shares of RPC from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Piper Sandler reiterated an “underweight” rating on shares of RPC in a report on Thursday, December 18th. Citigroup increased their target price on RPC from $5.75 to $6.00 and gave the company a “neutral” rating in a report on Thursday, December 11th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of RPC in a research note on Monday, December 29th. Finally, Susquehanna increased their price objective on RPC from $5.50 to $6.00 and gave the company a “neutral” rating in a research note on Wednesday, January 7th. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $5.25.

RPC Trading Up 0.2%

The company has a quick ratio of 2.70, a current ratio of 3.24 and a debt-to-equity ratio of 0.03. The firm’s fifty day moving average is $5.94 and its two-hundred day moving average is $5.33. The firm has a market cap of $1.37 billion, a P/E ratio of 41.07 and a beta of 0.69.

RPC (NYSE:RES) last posted its earnings results on Tuesday, February 3rd. The oil and gas company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.03). RPC had a return on equity of 5.24% and a net margin of 1.97%.The company had revenue of $425.78 million during the quarter, compared to analysts’ expectations of $423.30 million. During the same period in the prior year, the business posted $0.06 earnings per share. The company’s revenue for the quarter was up 26.9% on a year-over-year basis. Analysts predict that RPC, Inc. will post 0.31 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, March 10th. Shareholders of record on Tuesday, February 10th will be issued a dividend of $0.04 per share. The ex-dividend date is Tuesday, February 10th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.6%. RPC’s dividend payout ratio is 106.67%.

Institutional Investors Weigh In On RPC

Several hedge funds have recently made changes to their positions in RES. Thrivent Financial for Lutherans raised its holdings in RPC by 3.2% in the third quarter. Thrivent Financial for Lutherans now owns 64,164 shares of the oil and gas company’s stock worth $305,000 after purchasing an additional 1,970 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of RPC by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,558 shares of the oil and gas company’s stock worth $278,000 after acquiring an additional 2,190 shares in the last quarter. State of Alaska Department of Revenue lifted its position in RPC by 4.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 52,512 shares of the oil and gas company’s stock valued at $249,000 after acquiring an additional 2,228 shares during the period. Mariner LLC boosted its stake in RPC by 3.3% during the third quarter. Mariner LLC now owns 76,699 shares of the oil and gas company’s stock worth $365,000 after acquiring an additional 2,446 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in RPC by 2.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 128,551 shares of the oil and gas company’s stock worth $699,000 after purchasing an additional 2,648 shares during the period. 41.06% of the stock is currently owned by 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.