RPC (NYSE:RES) Sets New 52-Week Low – Here’s What Happened

RPC, Inc. (NYSE:RES)’s stock price reached a new 52-week low during trading on Thursday . The stock traded as low as $4.93 and last traded at $4.94, with a volume of 256767 shares trading hands. The stock had previously closed at $5.72.

Analyst Upgrades and Downgrades

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

RPC Price Performance

The company has a 50 day simple moving average of $5.80 and a 200-day simple moving average of $6.11. The stock has a market capitalization of $1.07 billion, a P/E ratio of 11.52 and a beta of 1.52.

RPC (NYSE:RES) last released its quarterly earnings data on Thursday, January 30th. The oil and gas company reported $0.06 EPS for the quarter, meeting the consensus estimate of $0.06. RPC had a net margin of 6.46% and a return on equity of 8.62%. As a group, equities analysts forecast that RPC, Inc. will post 0.31 earnings per share for the current fiscal year.

RPC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a dividend of $0.04 per share. The ex-dividend date was Monday, February 10th. This represents a $0.16 annualized dividend and a dividend yield of 3.24%. RPC’s dividend payout ratio is currently 37.21%.

Hedge Funds Weigh In On RPC

Several hedge funds have recently made changes to their positions in RES. Charles Schwab Investment Management Inc. grew its holdings in RPC by 7.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,509,478 shares of the oil and gas company’s stock valued at $9,600,000 after buying an additional 106,108 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of RPC by 101.8% in the third quarter. BNP Paribas Financial Markets now owns 215,567 shares of the oil and gas company’s stock worth $1,371,000 after purchasing an additional 108,737 shares during the period. Townsquare Capital LLC purchased a new stake in shares of RPC in the third quarter worth $73,000. Verition Fund Management LLC boosted its stake in RPC by 58.8% during the third quarter. Verition Fund Management LLC now owns 150,836 shares of the oil and gas company’s stock valued at $959,000 after buying an additional 55,877 shares during the period. Finally, Paloma Partners Management Co bought a new position in RPC in the 3rd quarter worth about $69,000. 41.06% of the stock is currently owned by hedge funds and other institutional investors.

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.