RPC, Inc. (NYSE:RES - Get Free Report)'s share price gapped up before the market opened on Thursday following a dividend announcement from the company. The stock had previously closed at $6.42, but opened at $6.72. RPC shares last traded at $6.25, with a volume of 275,899 shares.
The newly announced dividend which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be given a $0.04 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.56%. RPC's dividend payout ratio (DPR) is presently 37.21%.
Analysts Set New Price Targets
A number of research firms have commented on RES. Susquehanna reduced their price target on RPC from $6.50 to $6.00 and set a "neutral" rating on the stock in a research report on Friday, October 25th. Stifel Nicolaus reduced their price target on RPC from $8.00 to $7.00 and set a "hold" rating on the stock in a research report on Friday, October 11th.
View Our Latest Report on RES
RPC Trading Up 2.0 %
The firm has a 50-day moving average of $6.25 and a 200 day moving average of $6.30. The company has a market cap of $1.34 billion, a P/E ratio of 14.57 and a beta of 1.58.
RPC (NYSE:RES - Get Free Report) last announced its earnings results on Thursday, January 30th. The oil and gas company reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. RPC had a return on equity of 8.62% and a net margin of 6.46%. On average, equities analysts predict that RPC, Inc. will post 0.34 EPS for the current year.
Institutional Investors Weigh In On RPC
Several institutional investors and hedge funds have recently made changes to their positions in RES. International Assets Investment Management LLC boosted its holdings in RPC by 540.4% in the third quarter. International Assets Investment Management LLC now owns 4,560 shares of the oil and gas company's stock worth $29,000 after acquiring an additional 3,848 shares in the last quarter. Nicholas Hoffman & Company LLC. bought a new position in RPC in the fourth quarter worth approximately $59,000. GAMMA Investing LLC boosted its holdings in RPC by 437.4% in the fourth quarter. GAMMA Investing LLC now owns 10,087 shares of the oil and gas company's stock worth $60,000 after acquiring an additional 8,210 shares in the last quarter. Paloma Partners Management Co bought a new position in RPC in the third quarter worth approximately $69,000. Finally, Ieq Capital LLC bought a new position in RPC in the fourth quarter worth approximately $65,000. Institutional investors own 41.06% of the company's stock.
About RPC
(
Get Free Report)
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.
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