RPC (NYSE:RES) Stock Crosses Above Two Hundred Day Moving Average – Time to Sell?

RPC, Inc. (NYSE:RES) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $5.27 and traded as high as $6.07. RPC shares last traded at $5.8560, with a volume of 2,099,654 shares changing hands.

Analysts Set New Price Targets

A number of research firms have recently commented on RES. Susquehanna raised their target price on RPC from $5.50 to $6.00 and gave the company a “neutral” rating in a research report on Wednesday, January 7th. Wall Street Zen lowered RPC from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Piper Sandler restated an “underweight” rating on shares of RPC in a research report on Thursday, December 18th. Weiss Ratings reiterated a “hold (c-)” rating on shares of RPC in a research report on Monday, December 29th. Finally, Citigroup increased their price objective on shares of RPC from $5.75 to $6.00 and gave the company a “neutral” rating in a report on Thursday, December 11th. Four investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $5.25.

RPC Price Performance

The stock’s fifty day moving average price is $5.89 and its 200-day moving average price is $5.27. The firm has a market cap of $1.29 billion, a PE ratio of 39.04 and a beta of 0.72. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.24 and a quick ratio of 2.70.

RPC (NYSE:RES) last posted its quarterly earnings results on Tuesday, February 3rd. The oil and gas company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). The business had revenue of $425.78 million during the quarter, compared to analysts’ expectations of $423.30 million. RPC had a return on equity of 5.24% and a net margin of 1.97%.The business’s quarterly revenue was up 26.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.06 earnings per share. As a group, equities analysts expect that RPC, Inc. will post 0.31 EPS for the current fiscal year.

RPC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 10th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Tuesday, February 10th. RPC’s payout ratio is currently 106.67%.

Institutional Investors Weigh In On RPC

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. IES Holdings Inc. acquired a new position in RPC during the fourth quarter worth $14,144,000. Carolina Wealth Advisors LLC grew its holdings in shares of RPC by 7,851.8% in the third quarter. Carolina Wealth Advisors LLC now owns 1,277,544 shares of the oil and gas company’s stock valued at $6,081,000 after purchasing an additional 1,261,478 shares during the period. Congress Asset Management Co. purchased a new position in RPC during the third quarter worth about $5,959,000. Goldman Sachs Group Inc. boosted its holdings in RPC by 103.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,882,657 shares of the oil and gas company’s stock valued at $10,242,000 after purchasing an additional 956,370 shares during the last quarter. Finally, Brandywine Global Investment Management LLC purchased a new stake in shares of RPC in the 2nd quarter valued at approximately $4,465,000. 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.