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

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

Wall Street Analysts Forecast Growth

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

RPC Stock Down 2.2%

The company has a debt-to-equity ratio of 0.02, a current ratio of 3.52 and a quick ratio of 2.85. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of -30.50 and a beta of 0.82. The firm has a 50-day moving average price of $6.07 and a two-hundred day moving average price of $6.36.

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

RPC Dividend Announcement

The business also recently disclosed 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. This represents a $0.16 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, November 10th. RPC’s dividend payout ratio is presently -94.12%.

Institutional Investors Weigh In On RPC

Hedge funds have recently added to or reduced their stakes in the business. USA Financial Formulas acquired a new stake in RPC during the third quarter worth approximately $40,000. GAMMA Investing LLC lifted its position in RPC by 28.7% during the third quarter. GAMMA Investing LLC now owns 7,892 shares of the oil and gas company’s stock worth $44,000 after purchasing an additional 1,761 shares during the period. State of Wyoming bought a new stake in shares of RPC during the 2nd quarter worth approximately $54,000. Commerce Bank bought a new position in shares of RPC in the 2nd quarter valued at $62,000. Finally, IMC Chicago LLC acquired a new position in RPC during the first quarter worth about $80,000. Institutional investors and hedge funds own 41.06% of the company’s stock.

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.