RPC (NYSE:RES) Shares Down 5.8% - Here's Why

RPC, Inc. (NYSE:RES - Get Free Report)'s stock price fell 5.8% during mid-day trading on Friday . The stock traded as low as $6.01 and last traded at $6.01. 119,742 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 1,672,640 shares. The stock had previously closed at $6.38.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on RES shares. Stifel Nicolaus decreased their price objective on shares of RPC from $8.00 to $7.00 and set a "hold" rating for the company in a research report on Friday, October 11th. Susquehanna cut their price target on RPC from $6.50 to $6.00 and set a "neutral" rating on the stock in a research note on Friday, October 25th.

RPC Trading Down 8.5 %

The firm has a market cap of $1.26 billion, a P/E ratio of 10.43 and a beta of 1.61. The business's 50-day moving average is $6.31 and its two-hundred day moving average is $6.33.

RPC (NYSE:RES - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.04). RPC had a net margin of 8.07% and a return on equity of 11.36%. The company had revenue of $337.70 million for the quarter, compared to analyst estimates of $365.33 million. During the same quarter in the prior year, the firm earned $0.08 EPS. The company's revenue for the quarter was up 2.2% compared to the same quarter last year. On average, analysts anticipate that RPC, Inc. will post 0.43 earnings per share for the current year.

RPC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 11th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date is Friday, November 8th. RPC's dividend payout ratio (DPR) is 28.57%.

Institutional Investors Weigh In On RPC

A number of hedge funds and other institutional investors have recently modified their holdings of RES. Price T Rowe Associates Inc. MD lifted its position in RPC by 17.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 24,393 shares of the oil and gas company's stock worth $189,000 after purchasing an additional 3,650 shares during the period. CWM LLC boosted its stake in RPC by 256.5% during the second quarter. CWM LLC now owns 5,112 shares of the oil and gas company's stock valued at $32,000 after buying an additional 3,678 shares in the last quarter. Innealta Capital LLC bought a new position in RPC during the second quarter valued at about $44,000. nVerses Capital LLC grew its holdings in RPC by 352.9% during the second quarter. nVerses Capital LLC now owns 15,400 shares of the oil and gas company's stock worth $96,000 after acquiring an additional 12,000 shares during the period. Finally, Victory Capital Management Inc. raised its position in RPC by 48.7% in the second quarter. Victory Capital Management Inc. now owns 2,004,789 shares of the oil and gas company's stock worth $12,530,000 after acquiring an additional 656,446 shares in the last quarter. 41.06% of the stock is currently owned by institutional investors.

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.