RPC (NYSE:RES) Reaches New 52-Week Low – What’s Next?

RPC, Inc. (NYSE:RES) shares hit 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 traded. The stock had previously closed at $5.72.

Analyst Upgrades and Downgrades

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

RPC Stock Down 13.5 %

The stock’s 50-day simple moving average is $5.80 and its 200 day simple moving average is $6.11. The firm has a market cap of $1.07 billion, a P/E ratio of 11.52 and a beta of 1.52.

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

RPC Announces Dividend

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

Institutional Trading of RPC

Several large investors have recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of RPC during the third quarter valued at approximately $5,917,000. ExodusPoint Capital Management LP bought a new position in shares of RPC in the fourth quarter valued at approximately $3,632,000. Van ECK Associates Corp boosted its position in shares of RPC by 27.2% during the fourth quarter. Van ECK Associates Corp now owns 2,838,991 shares of the oil and gas company’s stock valued at $16,863,000 after buying an additional 607,255 shares during the last quarter. First Trust Advisors LP grew its holdings in RPC by 690.7% during the fourth quarter. First Trust Advisors LP now owns 657,981 shares of the oil and gas company’s stock worth $3,908,000 after buying an additional 574,765 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in RPC by 4.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 11,620,598 shares of the oil and gas company’s stock valued at $69,025,000 after acquiring an additional 459,700 shares in the last quarter. 41.06% of the stock is currently 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.