RPC (NYSE:RES) Shares Gap Down – Should You Sell?

RPC, Inc. (NYSE:RES) gapped down before the market opened on Thursday . The stock had previously closed at $6.29, but opened at $6.06. RPC shares last traded at $6.03, with a volume of 193,705 shares traded.

Analysts Set New Price Targets

RES has been the topic of several research reports. Citigroup lowered their target price on RPC from $6.75 to $5.25 and set a “sell” rating on the stock in a report on Wednesday, July 10th. Stifel Nicolaus reduced their target price on RPC from $8.00 to $7.00 and set a “hold” rating on the stock in a research report on Friday, October 11th. Finally, Susquehanna lowered their target price on shares of RPC from $7.00 to $6.50 and set a “neutral” rating for the company in a report on Thursday, July 11th.

RPC Price Performance

The stock’s fifty day simple moving average is $6.42 and its two-hundred day simple moving average is $6.61. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 10.62 and a beta of 1.55.

RPC (NYSE:RES) last announced its earnings results on Thursday, July 25th. The oil and gas company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.02. The firm had revenue of $364.20 million for the quarter, compared to the consensus estimate of $381.18 million. RPC had a return on equity of 11.52% and a net margin of 8.08%. The firm’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 EPS. On average, sell-side analysts predict that RPC, Inc. will post 0.55 EPS for the current year.

RPC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 11th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 2.74%. RPC’s dividend payout ratio (DPR) is presently 29.09%.

Institutional Investors Weigh In On RPC

Institutional investors and hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company raised its holdings in shares of RPC by 3.7% during the second quarter. The Manufacturers Life Insurance Company now owns 51,819 shares of the oil and gas company’s stock valued at $324,000 after acquiring an additional 1,869 shares during the period. Swiss National Bank grew its holdings in shares of RPC by 1.4% during the first quarter. Swiss National Bank now owns 192,000 shares of the oil and gas company’s stock valued at $1,486,000 after buying an additional 2,600 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in RPC by 17.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 24,393 shares of the oil and gas company’s stock valued at $189,000 after buying an additional 3,650 shares during the period. CWM LLC boosted its position in RPC by 256.5% during the 2nd quarter. CWM LLC now owns 5,112 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 3,678 shares during the period. Finally, International Assets Investment Management LLC increased its stake in RPC by 540.4% in the 3rd quarter. International Assets Investment Management LLC now owns 4,560 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 3,848 shares during the period. 41.06% of the stock is owned by institutional investors and hedge funds.

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.