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

Shares of RPC, Inc. (NYSE:RESGet Free Report) 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 changing hands.

The newly announced dividend which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 2.60%. RPC’s dividend payout ratio (DPR) is presently 28.57%.

Wall Street Analyst Weigh In

RES has been the topic of several analyst reports. Susquehanna cut their price target on shares of RPC from $6.50 to $6.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Stifel Nicolaus dropped their target price on RPC from $8.00 to $7.00 and set a “hold” rating for the company in a research report on Friday, October 11th.

Read Our Latest Analysis on RES

RPC Stock Down 4.1 %

The stock’s 50 day moving average price is $6.26 and its 200-day moving average price is $6.30. The stock has a market capitalization of $1.32 billion, a PE ratio of 10.99 and a beta of 1.59.

RPC (NYSE:RESGet Free Report) 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%. As a group, sell-side analysts predict that RPC, Inc. will post 0.43 earnings per share for the current fiscal year.

Institutional Trading of RPC

Institutional investors and hedge funds have recently modified their holdings of the stock. International Assets Investment Management LLC increased its holdings in RPC by 540.4% during 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 grew its holdings in RPC by 437.4% during the 4th quarter. GAMMA Investing LLC now owns 10,087 shares of the oil and gas company’s stock worth $60,000 after acquiring an additional 8,210 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in 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 worth $67,000 after acquiring an additional 8,971 shares in the last quarter. Paloma Partners Management Co purchased a new position in RPC during the 3rd quarter valued at about $69,000. Finally, Townsquare Capital LLC bought a new stake in shares of RPC in the 3rd quarter valued at about $73,000. Institutional investors own 41.06% of the company’s stock.

RPC Company Profile

(Get Free Report)

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.

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