RPC (NYSE:RES) Trading Down 9.7% – Should You Sell?

RPC, Inc. (NYSE:RES)’s stock price traded down 9.7% during mid-day trading on Wednesday . The company traded as low as $5.70 and last traded at $5.8360. 375,902 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 2,241,286 shares. The stock had previously closed at $6.46.

Analysts Set New Price Targets

Several equities research analysts have weighed in on RES shares. Weiss Ratings restated a “hold (c)” rating on shares of RPC in a research note on Tuesday, April 14th. Susquehanna boosted their price target on RPC from $7.00 to $7.50 and gave the stock a “neutral” rating in a report on Friday, May 8th. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $5.62.

RPC Stock Down 12.9%

The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 62.61 and a beta of 0.62. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.13 and a quick ratio of 2.61. The firm’s fifty day moving average price is $7.08 and its 200-day moving average price is $6.47.

RPC (NYSE:RES) last released its quarterly earnings data on Thursday, May 7th. The oil and gas company reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.02. The company had revenue of $454.75 million for the quarter, compared to the consensus estimate of $406.68 million. RPC had a return on equity of 4.82% and a net margin of 1.20%.RPC’s revenue for the quarter was up 36.6% on a year-over-year basis. During the same quarter last year, the business posted $0.06 EPS. Sell-side analysts expect that RPC, Inc. will post 0.2 earnings per share for the current fiscal year.

RPC Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Monday, May 11th were given a dividend of $0.04 per share. The ex-dividend date was Monday, May 11th. This represents a $0.16 annualized dividend and a yield of 2.8%. RPC’s dividend payout ratio (DPR) is currently 177.78%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its stake in shares of RPC by 7.6% in the first quarter. Dimensional Fund Advisors LP now owns 12,543,337 shares of the oil and gas company’s stock worth $88,809,000 after acquiring an additional 883,118 shares during the period. State Street Corp increased its position in RPC by 6.1% during the 4th quarter. State Street Corp now owns 4,049,407 shares of the oil and gas company’s stock valued at $22,029,000 after purchasing an additional 233,646 shares during the period. American Century Companies Inc. increased its position in RPC by 8.4% during the 3rd quarter. American Century Companies Inc. now owns 3,960,190 shares of the oil and gas company’s stock valued at $18,851,000 after purchasing an additional 308,361 shares during the period. IES Holdings Inc. bought a new position in RPC during the 4th quarter worth approximately $14,144,000. Finally, Van ECK Associates Corp raised its holdings in RPC by 13.0% during the 4th quarter. Van ECK Associates Corp now owns 2,508,890 shares of the oil and gas company’s stock worth $13,648,000 after purchasing an additional 288,917 shares during the last quarter. 41.06% of the stock is owned by institutional investors and hedge funds.

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.