RPC (NYSE:RES) Trading Down 4.1% – Time to Sell?

RPC, Inc. (NYSE:RES)’s stock price dropped 4.1% during mid-day trading on Wednesday . The company traded as low as $5.05 and last traded at $5.08. Approximately 121,619 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 1,487,561 shares. The stock had previously closed at $5.29.

Analysts Set New Price Targets

Separately, Citigroup raised their price target on shares of RPC from $5.25 to $5.50 and gave the stock a “sell” rating in a research note on Thursday, February 20th.

RPC Trading Down 3.1 %

The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 11.92 and a beta of 1.58. The business has a 50 day simple moving average of $6.17 and a 200-day simple moving average of $6.21.

RPC (NYSE:RES) last released its earnings results on Thursday, January 30th. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. RPC had a net margin of 6.46% and a return on equity of 8.62%. Research analysts predict that RPC, Inc. will post 0.31 EPS for the current year.

RPC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be issued a dividend of $0.04 per share. 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 3.12%. RPC’s payout ratio is 37.21%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RES. International Assets Investment Management LLC raised its holdings in shares of 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 worth $29,000 after purchasing an additional 3,848 shares during the period. Nicholas Hoffman & Company LLC. acquired a new stake in RPC during the 4th quarter worth approximately $59,000. GAMMA Investing LLC raised 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 valued at $60,000 after buying an additional 8,210 shares during the period. Raymond James Financial Inc. acquired a new position in RPC during the fourth quarter valued at approximately $64,000. Finally, Paloma Partners Management Co purchased a new stake in RPC during the third quarter worth approximately $69,000. Institutional investors and hedge funds own 41.06% of the company’s stock.

About RPC

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.