RPC (NYSE:RES) Shares Gap Down – What’s Next?

Shares of RPC, Inc. (NYSE:RES) gapped down prior to trading 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

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

RPC Stock Performance

The company has a market capitalization of $1.52 billion, a PE ratio of 45.70 and a beta of 0.69. 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 50 day moving average price of $6.15 and a 200 day moving average price of $5.49.

RPC (NYSE:RES) last issued its quarterly earnings results 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). The company had revenue of $425.78 million during the quarter, compared to the consensus estimate of $423.30 million. RPC had a return on equity of 5.24% and a net margin of 1.97%.The firm’s quarterly revenue was up 26.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.06 EPS. Equities analysts forecast that RPC, Inc. will post 0.31 EPS for the current year.

RPC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Stockholders of record on Tuesday, February 10th were given a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, February 10th. This represents a $0.16 annualized dividend and a dividend yield of 2.3%. RPC’s payout ratio is presently 106.67%.

Hedge Funds Weigh In On RPC

Several large investors have recently modified their holdings of RES. Thrivent Financial for Lutherans increased its holdings in RPC by 3.2% in the third quarter. Thrivent Financial for Lutherans now owns 64,164 shares of the oil and gas company’s stock valued at $305,000 after buying an additional 1,970 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in RPC by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,558 shares of the oil and gas company’s stock worth $278,000 after buying an additional 2,190 shares during the last quarter. State of Alaska Department of Revenue grew its position in shares of RPC by 4.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 52,512 shares of the oil and gas company’s stock worth $249,000 after acquiring an additional 2,228 shares in the last quarter. Mariner LLC grew its position in shares of RPC by 3.3% in the 3rd quarter. Mariner LLC now owns 76,699 shares of the oil and gas company’s stock worth $365,000 after acquiring an additional 2,446 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of RPC by 2.1% in the 4th 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 acquiring an additional 2,648 shares during the last quarter. Institutional investors own 41.06% of the company’s stock.

About RPC

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.