RPC (NYSE:RES) Reaches New 12-Month Low – Here’s What Happened

RPC, Inc. (NYSE:RES)’s stock price reached a new 52-week low on Wednesday . The stock traded as low as $5.54 and last traded at $5.61, with a volume of 231459 shares trading hands. The stock had previously closed at $5.67.

Analysts Set New Price Targets

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

RPC Stock Performance

The company has a market capitalization of $1.20 billion, a price-to-earnings ratio of 12.97 and a beta of 1.58. The firm has a 50-day simple moving average of $6.20 and a two-hundred day simple moving average of $6.24.

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, meeting analysts’ consensus estimates of $0.06. RPC had a return on equity of 8.62% and a net margin of 6.46%. As a group, equities analysts forecast that RPC, Inc. will post 0.31 EPS for the current fiscal 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 given a dividend of $0.04 per share. The ex-dividend date is Monday, February 10th. This represents a $0.16 annualized dividend and a dividend yield of 2.87%. RPC’s dividend payout ratio (DPR) is currently 37.21%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC increased its stake in RPC by 540.4% in 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 purchasing an additional 3,848 shares during the last quarter. Nicholas Hoffman & Company LLC. purchased a new position in shares of RPC in the 4th quarter valued at $59,000. GAMMA Investing LLC lifted its position 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 acquiring an additional 8,210 shares during the last quarter. Raymond James Financial Inc. acquired a new position in RPC in the fourth quarter valued at $64,000. Finally, Ieq Capital LLC purchased a new position in shares of RPC during the fourth quarter worth about $65,000. 41.06% of the stock is owned by institutional investors and hedge funds.

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.