RPC (NYSE:RES) Hits New 12-Month Low – Here’s Why

RPC, Inc. (NYSE:RES) hit a new 52-week low during trading on Tuesday . The company traded as low as $5.23 and last traded at $5.28, with a volume of 1840569 shares changing hands. The stock had previously closed at $5.58.

Analyst Ratings Changes

Separately, Citigroup increased their price target on RPC from $5.25 to $5.50 and gave the company a “sell” rating in a report on Thursday, February 20th.

RPC Trading Down 2.2 %

The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 12.03 and a beta of 1.52. The stock has a fifty day simple moving average of $6.16 and a 200-day simple moving average of $6.20.

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, hitting analysts’ consensus estimates of $0.06. RPC had a net margin of 6.46% and a return on equity of 8.62%. Sell-side analysts forecast that RPC, Inc. will post 0.31 earnings per share for the current fiscal year.

RPC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be paid 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 3.09%. RPC’s dividend payout ratio (DPR) is presently 37.21%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RES. International Assets Investment Management LLC boosted its position in shares of 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 worth $29,000 after buying an additional 3,848 shares during the period. Nicholas Hoffman & Company LLC. bought a new position in RPC in the fourth quarter valued at $59,000. GAMMA Investing LLC grew 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 purchasing an additional 8,210 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in RPC in the 4th quarter valued at $64,000. Finally, Paloma Partners Management Co bought a new stake in RPC during the 3rd quarter worth about $69,000. 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.