RPC (NYSE:RES) Reaches New 52-Week Low – Here’s Why

RPC, Inc. (NYSE:RES) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $5.61 and last traded at $5.62, with a volume of 710011 shares traded. The stock had previously closed at $5.73.

Analyst Ratings Changes

Several research firms have issued reports on RES. Susquehanna cut their price target on shares of RPC from $6.50 to $6.00 and set a “neutral” rating for the company in a research report on Friday, October 25th. Stifel Nicolaus decreased their price target on RPC from $8.00 to $7.00 and set a “hold” rating on the stock in a research note on Friday, October 11th.

RPC Stock Performance

The company has a 50-day simple moving average of $6.15 and a two-hundred day simple moving average of $6.28. The firm has a market capitalization of $1.21 billion, a P/E ratio of 10.05 and a beta of 1.61.

RPC (NYSE:RES) last announced its earnings results on Thursday, October 24th. The oil and gas company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). The business had revenue of $337.70 million for the quarter, compared to the consensus estimate of $365.33 million. RPC had a net margin of 8.07% and a return on equity of 11.36%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.08 EPS. As a group, research analysts forecast that RPC, Inc. will post 0.43 earnings per share for the current fiscal year.

RPC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 11th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 2.84%. The ex-dividend date was Friday, November 8th. RPC’s dividend payout ratio (DPR) is 28.57%.

Institutional Investors Weigh In On RPC

Several institutional investors and hedge funds have recently added to or reduced their stakes in RES. International Assets Investment Management LLC grew its stake in RPC by 540.4% during the third quarter. International Assets Investment Management LLC now owns 4,560 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 3,848 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of RPC during the 2nd quarter valued at about $44,000. Paloma Partners Management Co purchased a new stake in RPC during the third quarter valued at approximately $69,000. Townsquare Capital LLC bought a new stake in RPC in the third quarter worth $73,000. Finally, CWM LLC raised its stake in shares of RPC by 130.0% in the third quarter. CWM LLC now owns 11,758 shares of the oil and gas company’s stock valued at $75,000 after acquiring an additional 6,646 shares during the period. Hedge funds and other institutional investors 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.