RPC (NYSE:RES) Sets New 1-Year Low – Should You Sell?

RPC, Inc. (NYSE:RES)’s share price reached a new 52-week low during trading on Thursday . The company traded as low as $5.61 and last traded at $5.62, with a volume of 710011 shares traded. The stock had previously closed at $5.73.

Analyst Ratings Changes

RES has been the subject of a number of recent research reports. Stifel Nicolaus dropped their target price on RPC from $8.00 to $7.00 and set a “hold” rating for the company in a research report on Friday, October 11th. Susquehanna cut their target price on shares of RPC from $6.50 to $6.00 and set a “neutral” rating on the stock in a report on Friday, October 25th.

RPC Stock Performance

The firm has a market cap of $1.21 billion, a PE ratio of 10.05 and a beta of 1.61. The firm has a fifty day simple moving average of $6.18 and a two-hundred day simple moving average of $6.29.

RPC (NYSE:RES) last posted its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). The firm had revenue of $337.70 million during the quarter, compared to analysts’ expectations of $365.33 million. RPC had a return on equity of 11.36% and a net margin of 8.07%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the company earned $0.08 earnings per share. Equities analysts forecast that RPC, Inc. will post 0.43 EPS for the current fiscal year.

RPC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 11th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 2.84%. The ex-dividend date was Friday, November 8th. RPC’s dividend payout ratio is 28.57%.

Institutional Investors Weigh In On RPC

Several hedge funds have recently modified their holdings of RES. Texas Permanent School Fund Corp raised its stake in shares of RPC by 115.1% during the 2nd quarter. Texas Permanent School Fund Corp now owns 160,197 shares of the oil and gas company’s stock worth $1,001,000 after acquiring an additional 85,738 shares in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of RPC during the third quarter worth $5,917,000. International Assets Investment Management LLC boosted its position in shares of RPC by 540.4% in 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 purchasing an additional 3,848 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in RPC by 7.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,509,478 shares of the oil and gas company’s stock worth $9,600,000 after buying an additional 106,108 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in RPC by 101.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 215,567 shares of the oil and gas company’s stock valued at $1,371,000 after buying an additional 108,737 shares in the last quarter. Hedge funds and other 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.