RPC (NYSE:RES) Hits New 1-Year Low – Here’s What Happened

RPC, Inc. (NYSE:RES) shares hit a new 52-week low during mid-day trading on Tuesday. The company traded as low as $4.97 and last traded at $5.1780, with a volume of 67,429 shares traded. The stock had previously closed at $5.26.

Analysts Set New Price Targets

RES has been the subject of several analyst reports. Evercore lowered RPC to an “outperform” rating in a research report on Friday, October 30th. Weiss Ratings lowered shares of RPC from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, November 2nd. Finally, Freedom Broker downgraded RPC from a “hold” rating to a “sell” rating and decreased their price objective for the company from $6.00 to $5.00 in a report on Friday, October 30th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $5.67.

RPC Price Performance

The firm has a market cap of $1.14 billion, a P/E ratio of -30.50 and a beta of 0.82. The company has a fifty day moving average of $6.07 and a 200-day moving average of $6.36. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.52 and a quick ratio of 2.85.

RPC (NYSE:RES) last issued its quarterly earnings data on Thursday, October 29th. The oil and gas company reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. The business had revenue of $467.74 million for the quarter, compared to analysts’ expectations of $469.12 million. RPC had a positive return on equity of 5.26% and a negative net margin of 1.77%. The business’s revenue was up 4.6% on a year-over-year basis. During the same period last year, the business earned $0.09 EPS. On average, sell-side analysts anticipate that RPC, Inc. will post 0.29 EPS for the current fiscal year.

RPC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Tuesday, November 10th will be issued a $0.04 dividend. The ex-dividend date is Tuesday, November 10th. This represents a $0.16 annualized dividend and a dividend yield of 3.1%. RPC’s dividend payout ratio is currently -94.12%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RES. HighTower Advisors LLC bought a new stake in RPC in the 3rd quarter worth about $122,000. Fifth Third Bancorp lifted its position in shares of RPC by 30.8% during the 3rd quarter. Fifth Third Bancorp now owns 106,950 shares of the oil and gas company’s stock worth $602,000 after buying an additional 25,161 shares in the last quarter. Maryland State Retirement & Pension System lifted its position in shares of RPC by 56.7% during the 3rd quarter. Maryland State Retirement & Pension System now owns 20,236 shares of the oil and gas company’s stock worth $114,000 after buying an additional 7,320 shares in the last quarter. Illinois Municipal Retirement Fund boosted its stake in shares of RPC by 4.1% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 46,318 shares of the oil and gas company’s stock worth $261,000 after buying an additional 1,823 shares during the last quarter. Finally, Inscription Capital LLC purchased a new position in shares of RPC in the 3rd quarter worth approximately $68,000. 41.06% of the stock is currently owned by hedge funds and other institutional investors.

RPC Company Profile

RPC, Inc is an oilfield services company that provides specialized equipment and services to exploration and production companies. Its offerings support the drilling, completion, maintenance and enhancement of oil and natural gas wells.

The company’s services include pressure pumping, coiled tubing, wireline, downhole tools, well control and related well-intervention work. RPC also provides equipment rental and other technical services used in oilfield operations.

Founded in 1984 and headquartered in Atlanta, Georgia, RPC serves customers primarily in the United States, along with selected international markets.