RPC (NYSE:RES) Share Price Breaks Above Two Hundred Day Moving Average – What’s Next?

RPC, Inc. (NYSE:RES) shares crossed above its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $6.36 and traded as high as $6.50. RPC shares last traded at $6.3950, with a volume of 2,217,799 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Weiss Ratings downgraded RPC from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, September 16th. Susquehanna lowered their price objective on RPC from $7.50 to $6.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 8th. Three 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, RPC currently has a consensus rating of “Reduce” and an average target price of $6.00.

RPC Stock Up 2.0%

The company has a current ratio of 3.34, a quick ratio of 2.76 and a debt-to-equity ratio of 0.02. The business’s fifty day moving average price is $6.14 and its 200 day moving average price is $6.36. The company has a market capitalization of $1.49 billion, a P/E ratio of 74.81 and a beta of 0.86.

RPC (NYSE:RES) last posted its earnings results on Thursday, July 30th. The oil and gas company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.04. RPC had a net margin of 1.28% and a return on equity of 4.82%. The business had revenue of $460.87 million for the quarter, compared to analysts’ expectations of $463.48 million. During the same quarter in the previous year, the firm posted $0.08 earnings per share. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, equities research analysts predict that RPC, Inc. will post 0.26 earnings per share for the current fiscal year.

Hedge Funds Weigh In On RPC

Hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp bought a new stake in RPC in the second quarter valued at $9,614,000. Legal & General Group Plc bought a new position in shares of RPC during the second quarter valued at $1,240,000. Empowered Funds LLC bought a new position in shares of RPC during the second quarter valued at $6,469,000. Bank of America Corp DE bought a new position in shares of RPC during the second quarter valued at $4,847,000. Finally, Dimensional Fund Advisors LP grew its holdings in shares of RPC by 7.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 12,543,337 shares of the oil and gas company’s stock worth $88,809,000 after purchasing an additional 883,118 shares during the last quarter. 41.06% of the stock is owned by institutional investors and hedge funds.

About RPC

RPC, Inc (NYSE: RES) is an oilfield services company that provides specialized equipment and services to energy producers and exploration and production companies. Its offerings support the drilling, completion, production and maintenance of oil and natural gas wells.

The company’s services include pressure pumping, coiled tubing, well control, nitrogen services, downhole tools, well testing, fishing and rental equipment. These services are used in activities such as hydraulic fracturing, well intervention, workover operations and production enhancement.

RPC was founded in 1984 and is headquartered in Atlanta, Georgia.