RPC (NYSE:RES) Shares Gap Up After Dividend Announcement

RPC, Inc. (NYSE:RES) 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 trading hands.

The newly announced dividend which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 2.56%. RPC’s dividend payout ratio is currently 28.57%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Susquehanna decreased their target price 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 decreased their price objective on RPC from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Friday, October 11th.

RPC Stock Down 2.7 %

The business’s 50-day simple moving average is $6.26 and its two-hundred day simple moving average is $6.31. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 11.26 and a beta of 1.59.

RPC (NYSE:RES) last announced its earnings results on Thursday, January 30th. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.06. RPC had a return on equity of 11.36% and a net margin of 8.07%. Sell-side analysts anticipate that RPC, Inc. will post 0.43 earnings per share for the current year.

Institutional Trading of RPC

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. International Assets Investment Management LLC boosted its position in shares of RPC by 540.4% during 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 acquiring an additional 3,848 shares in the last quarter. GAMMA Investing LLC increased its stake 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 purchasing an additional 8,210 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in RPC by 383.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 11,312 shares of the oil and gas company’s stock worth $67,000 after purchasing an additional 8,971 shares in the last quarter. Paloma Partners Management Co purchased a new stake in shares of RPC during the 3rd quarter worth approximately $69,000. Finally, Townsquare Capital LLC purchased a new position in shares of RPC in the 3rd quarter valued at $73,000. 41.06% of the stock is currently 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.