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

RPC, Inc. (NYSE:RES)’s share price reached a new 52-week low during mid-day trading on Thursday . The company 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.

Analysts Set New Price Targets

Separately, Citigroup raised their target price 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 Stock Performance

The firm’s 50-day simple moving average is $5.71 and its 200 day simple moving average is $6.09. The company has a market cap of $930.11 million, a P/E ratio of 10.01 and a beta of 1.27.

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

RPC Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 3.72%. The ex-dividend date was Monday, February 10th. RPC’s payout ratio is 37.21%.

Institutional Investors Weigh In On RPC

Several large investors have recently bought and sold shares of RES. Nicholas Hoffman & Company LLC. acquired a new position in shares of RPC in the 4th quarter valued at $59,000. GAMMA Investing LLC raised its stake 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 buying an additional 8,210 shares during the period. Raymond James Financial Inc. bought a new position in RPC during the fourth quarter worth about $64,000. Ieq Capital LLC acquired a new position in RPC in the fourth quarter valued at about $65,000. Finally, Vise Technologies Inc. bought a new stake in shares of RPC in the fourth quarter worth about $66,000. Institutional investors own 41.06% of the company’s stock.

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.