RPC (NYSE:RES) Stock Price Down 4.1% – Here’s What Happened

RPC, Inc. (NYSE:RES)’s stock price dropped 4.1% during trading on Wednesday . The company traded as low as $5.05 and last traded at $5.08. Approximately 121,619 shares were traded during trading, a decline of 92% from the average daily volume of 1,487,561 shares. The stock had previously closed at $5.29.

Analyst Ratings Changes

Separately, Citigroup upped their price objective on RPC from $5.25 to $5.50 and gave the stock a “sell” rating in a research note on Thursday, February 20th.

RPC Stock Up 2.3 %

The company has a market capitalization of $1.16 billion, a PE ratio of 12.50 and a beta of 1.52. The company’s 50 day moving average is $6.16 and its two-hundred day moving average is $6.20.

RPC (NYSE:RES) last announced its quarterly earnings results on Thursday, January 30th. The oil and gas company reported $0.06 EPS for the quarter, meeting analysts’ consensus estimates of $0.06. RPC had a return on equity of 8.62% and a net margin of 6.46%. Analysts forecast that RPC, Inc. will post 0.31 EPS for the current year.

RPC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Monday, February 10th. RPC’s dividend payout ratio is presently 37.21%.

Hedge Funds Weigh In On RPC

Institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC lifted its holdings in shares of RPC by 540.4% in the 3rd quarter. International Assets Investment Management LLC now owns 4,560 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 3,848 shares during the last quarter. Nicholas Hoffman & Company LLC. purchased a new stake in RPC during the fourth quarter valued at approximately $59,000. GAMMA Investing LLC lifted its stake in shares of RPC by 437.4% in the 4th quarter. GAMMA Investing LLC now owns 10,087 shares of the oil and gas company’s stock valued at $60,000 after purchasing an additional 8,210 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of RPC in the 4th quarter worth approximately $64,000. Finally, Paloma Partners Management Co bought a new stake in RPC in the third quarter worth $69,000. Institutional investors own 41.06% of the company’s stock.

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.