RPC (NYSE:RES) Sees Large Volume Increase

RPC, Inc. (NYSE:RES) shares saw unusually-high trading volume on Friday . Approximately 8,230,615 shares traded hands during trading, an increase of 338% from the previous session’s volume of 1,877,904 shares.The stock last traded at $7.21 and had previously closed at $7.12.

RES has been the topic of several analyst reports. Susquehanna Bancshares set a $13.00 target price on RPC and gave the stock a “hold” rating in a report on Tuesday, April 2nd. Morgan Stanley raised RPC from an “underweight” rating to an “overweight” rating and raised their target price for the stock from $11.00 to $15.00 in a report on Thursday, April 4th. ValuEngine raised RPC from a “strong sell” rating to a “sell” rating in a report on Monday, April 1st. Goldman Sachs Group assumed coverage on RPC in a report on Sunday, March 10th. They set a “sell” rating and a $10.00 target price on the stock. Finally, AltaCorp Capital reiterated an “underperform” rating on shares of RPC in a research report on Thursday, June 20th. Ten equities research analysts have rated the stock with a sell rating, ten have given a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $12.38.

The firm has a market cap of $1.55 billion, a P/E ratio of 8.79, a PEG ratio of 5.82 and a beta of 1.14. The stock has a 50-day moving average of $7.87. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.77 and a current ratio of 3.53.

RPC (NYSE:RES) last issued its quarterly earnings results on Wednesday, April 24th. The oil and gas company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). The business had revenue of $334.70 million for the quarter, compared to analysts’ expectations of $351.95 million. RPC had a return on equity of 11.99% and a net margin of 7.57%. The business’s revenue for the quarter was down 23.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.24 EPS. On average, equities analysts expect that RPC, Inc. will post 0.2 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were given a $0.05 dividend. The ex-dividend date was Thursday, May 9th. This represents a $0.20 annualized dividend and a dividend yield of 2.77%. RPC’s dividend payout ratio (DPR) is presently 24.39%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Marshall Wace North America L.P. purchased a new position in shares of RPC in the first quarter valued at approximately $25,000. Amalgamated Bank purchased a new position in shares of RPC in the fourth quarter valued at approximately $114,000. LPL Financial LLC lifted its position in shares of RPC by 26.6% in the fourth quarter. LPL Financial LLC now owns 12,756 shares of the oil and gas company’s stock valued at $126,000 after acquiring an additional 2,680 shares in the last quarter. Great West Life Assurance Co. Can lifted its position in shares of RPC by 85.8% in the fourth quarter. Great West Life Assurance Co. Can now owns 13,984 shares of the oil and gas company’s stock valued at $129,000 after acquiring an additional 6,459 shares in the last quarter. Finally, Raymond James & Associates lifted its position in shares of RPC by 31.0% in the fourth quarter. Raymond James & Associates now owns 13,130 shares of the oil and gas company’s stock valued at $130,000 after acquiring an additional 3,110 shares in the last quarter. Institutional investors and hedge funds own 31.96% of the company’s stock.

About RPC (NYSE:RES)

RPC, Inc, through its subsidiaries, provides 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 offers pressure pumping, fracturing, acidizing, 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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