RPC (NYSE:RES) Trading 3% Higher

RPC, Inc. (NYSE:RES) shot up 3% during mid-day trading on Tuesday . The company traded as high as $6.61 and last traded at $6.55. 169,793 shares were traded during mid-day trading, a decline of 90% from the average session volume of 1,711,014 shares. The stock had previously closed at $6.36.

Analyst Upgrades and Downgrades

RES has been the topic of several research reports. Citigroup reduced their price target on shares of RPC from $6.75 to $5.25 and set a “sell” rating on the stock in a research report on Wednesday, July 10th. Stifel Nicolaus dropped their price objective on shares of RPC from $8.00 to $7.00 and set a “hold” rating on the stock in a research report on Tuesday, July 16th. Finally, Susquehanna lowered their target price on shares of RPC from $7.00 to $6.50 and set a “neutral” rating for the company in a research note on Thursday, July 11th.

RPC Stock Up 4.7 %

The stock has a fifty day moving average of $6.38 and a 200-day moving average of $6.72. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 9.09 and a beta of 1.56.

RPC (NYSE:RES) last posted its earnings results on Thursday, July 25th. The oil and gas company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. RPC had a net margin of 8.08% and a return on equity of 11.52%. The firm had revenue of $364.20 million for the quarter, compared to the consensus estimate of $381.18 million. During the same period last year, the firm posted $0.30 EPS. The company’s revenue was down 12.4% on a year-over-year basis. On average, equities analysts forecast that RPC, Inc. will post 0.56 EPS for the current fiscal year.

RPC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date was Friday, August 9th. RPC’s dividend payout ratio is currently 22.86%.

Hedge Funds Weigh In On RPC

Hedge funds have recently modified their holdings of the business. Creative Planning grew its position in RPC by 876.5% during the 2nd quarter. Creative Planning now owns 241,471 shares of the oil and gas company’s stock worth $1,509,000 after purchasing an additional 216,742 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of RPC by 3.7% during the second quarter. The Manufacturers Life Insurance Company now owns 51,819 shares of the oil and gas company’s stock worth $324,000 after buying an additional 1,869 shares during the last quarter. AQR Capital Management LLC increased its position in RPC by 55.3% in the 2nd quarter. AQR Capital Management LLC now owns 692,169 shares of the oil and gas company’s stock valued at $4,326,000 after acquiring an additional 246,482 shares during the period. Marshall Wace LLP purchased a new stake in RPC during the 2nd quarter valued at approximately $3,349,000. Finally, Public Sector Pension Investment Board lifted its position in RPC by 5.3% during the 2nd quarter. Public Sector Pension Investment Board now owns 185,860 shares of the oil and gas company’s stock worth $1,162,000 after acquiring an additional 9,306 shares during the period. 41.06% of the stock is currently owned by hedge funds and other institutional investors.

RPC Company Profile

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.