RPC (NYSE:RES) Sets New 1-Year Low – What’s Next?

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

Wall Street Analysts Forecast Growth

Separately, Citigroup lifted their price objective on shares of RPC from $5.25 to $5.50 and gave the company a “sell” rating in a research note on Thursday, February 20th.

RPC Price Performance

The stock’s 50-day moving average is $6.20 and its 200 day moving average is $6.24. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 12.97 and a beta of 1.58.

RPC (NYSE:RES) last announced 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%. Analysts anticipate that RPC, Inc. will post 0.31 EPS for the current year.

RPC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend is Monday, February 10th. RPC’s payout ratio is 37.21%.

Institutional Trading of RPC

Several hedge funds and other institutional investors have recently bought and sold shares of the company. International Assets Investment Management LLC lifted its holdings in shares of RPC by 540.4% during the 3rd quarter. International Assets Investment Management LLC now owns 4,560 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 3,848 shares during the period. Nicholas Hoffman & Company LLC. acquired a new position in shares of RPC during the 4th quarter valued at $59,000. GAMMA Investing LLC boosted its position in RPC by 437.4% during the 4th quarter. GAMMA Investing LLC now owns 10,087 shares of the oil and gas company’s stock worth $60,000 after purchasing an additional 8,210 shares during the period. Raymond James Financial Inc. acquired a new stake in RPC in the 4th quarter valued at $64,000. Finally, Ieq Capital LLC purchased a new position in RPC in the fourth quarter valued at about $65,000. 41.06% of the stock is owned by hedge funds and other institutional investors.

RPC Company Profile

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.