RPC (NYSE:RES) Shares Gap Down – Here’s What Happened

RPC, Inc. (NYSE:RES)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $6.83, but opened at $6.46. RPC shares last traded at $6.8650, with a volume of 157,220 shares trading hands.

Analysts Set New Price Targets

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

RPC Trading Up 3.7%

The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.70 and a current ratio of 3.24. The company has a market capitalization of $1.58 billion, a PE ratio of 47.63 and a beta of 0.69. The stock has a fifty day moving average of $6.19 and a 200 day moving average of $5.52.

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

RPC Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 10th were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Tuesday, February 10th. RPC’s dividend payout ratio (DPR) is presently 106.67%.

Institutional Trading of RPC

Hedge funds have recently bought and sold shares of the stock. Thrivent Financial for Lutherans boosted its position in shares of RPC by 3.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 64,164 shares of the oil and gas company’s stock valued at $305,000 after acquiring an additional 1,970 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in RPC by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,558 shares of the oil and gas company’s stock worth $278,000 after purchasing an additional 2,190 shares during the last quarter. State of Alaska Department of Revenue increased its position in RPC by 4.4% in the third quarter. State of Alaska Department of Revenue now owns 52,512 shares of the oil and gas company’s stock worth $249,000 after purchasing an additional 2,228 shares during the last quarter. Mariner LLC raised 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 valued at $365,000 after purchasing an additional 2,446 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in RPC by 2.1% during 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 valued at $699,000 after purchasing an additional 2,648 shares during the last quarter. Hedge funds and other institutional investors own 41.06% of the company’s stock.

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.