RPC, Inc. (NYSE:RES)’s share price traded down 6.1% on Wednesday following a weaker than expected earnings announcement. The company traded as low as $10.26 and last traded at $10.69. 4,675,363 shares were traded during trading, an increase of 95% from the average session volume of 2,398,804 shares. The stock had previously closed at $11.39.

The oil and gas company reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.04). The firm had revenue of $376.80 million for the quarter, compared to analysts’ expectations of $385.48 million. RPC had a return on equity of 20.48% and a net margin of 12.40%. The firm’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.18 earnings per share.

The company also recently announced a quarterly dividend, which will be paid on Monday, March 11th. Shareholders of record on Monday, February 11th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 3.74%. RPC’s payout ratio is 60.61%.

RES has been the topic of several recent research reports. Credit Suisse Group set a $14.00 price objective on RPC and gave the company a “hold” rating in a research report on Thursday, October 25th. Wolfe Research set a $14.00 price objective on RPC and gave the company a “sell” rating in a research report on Thursday, October 25th. Cowen reduced their price objective on RPC from $15.00 to $12.00 and set a “market perform” rating on the stock in a research report on Friday, October 26th. Wells Fargo & Co downgraded RPC from a “market perform” rating to an “underperform” rating in a research report on Monday, January 7th. They noted that the move was a valuation call. Finally, ValuEngine upgraded RPC from a “strong sell” rating to a “sell” rating in a research report on Saturday. Nine investment analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company. RPC has an average rating of “Hold” and a consensus target price of $14.27.

A number of institutional investors have recently added to or reduced their stakes in RES. Nisa Investment Advisors LLC increased its stake in RPC by 243.8% in the fourth quarter. Nisa Investment Advisors LLC now owns 11,000 shares of the oil and gas company’s stock valued at $109,000 after purchasing an additional 7,800 shares during the last quarter. LPL Financial LLC acquired a new position in RPC in the third quarter valued at $156,000. FDx Advisors Inc. acquired a new position in RPC in the third quarter valued at $180,000. BlueMountain Capital Management LLC increased its stake in RPC by 484.4% in the second quarter. BlueMountain Capital Management LLC now owns 12,833 shares of the oil and gas company’s stock valued at $187,000 after purchasing an additional 10,637 shares during the last quarter. Finally, Martingale Asset Management L P acquired a new position in RPC in the third quarter valued at $202,000. Hedge funds and other institutional investors own 32.96% of the company’s stock.

The company has a market cap of $2.48 billion, a P/E ratio of 16.20, a price-to-earnings-growth ratio of 1.56 and a beta of 0.99. The company has a quick ratio of 3.01, a current ratio of 3.74 and a debt-to-equity ratio of 0.01.

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About RPC (NYSE:RES)

RPC, Inc 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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