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

RPC, Inc. (NYSE:RES) shares hit a new 52-week low during trading on Tuesday. The company 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.

Analyst Ratings Changes

Several research firms recently commented on RES. Freedom Broker lowered RPC from a “hold” rating to a “sell” rating and dropped their target price for the stock from $6.00 to $5.00 in a report on Friday, October 30th. Evercore cut RPC to an “outperform” rating in a research report on Friday, October 30th. Finally, Weiss Ratings downgraded RPC from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, November 2nd. One investment 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, RPC has an average rating of “Reduce” and a consensus target price of $5.67.

RPC Stock Performance

The business’s 50-day simple moving average is $6.03 and its two-hundred day simple moving average is $6.35. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of -32.90 and a beta of 0.82. The company has a quick ratio of 2.85, a current ratio of 3.52 and a debt-to-equity ratio of 0.02.

RPC (NYSE:RES) last posted its earnings results on Thursday, October 29th. The oil and gas company reported $0.10 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 firm had revenue of $467.74 million for the quarter, compared to analysts’ expectations of $469.12 million. During the same period last year, the firm earned $0.09 EPS. The company’s quarterly revenue was up 4.6% on a year-over-year basis. As a group, sell-side analysts expect that RPC, Inc. will post 0.29 earnings per share for the current fiscal year.

RPC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 10th. Investors of record on Tuesday, November 10th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Tuesday, November 10th. This represents a $0.16 dividend on an annualized basis and a yield of 2.9%. RPC’s dividend payout ratio is presently -94.12%.

Institutional Trading of RPC

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of RPC in the second quarter valued at approximately $90,891,000. Bank of New York Mellon Corp purchased a new position in shares of RPC during the 2nd quarter valued at approximately $9,614,000. Empowered Funds LLC purchased a new position in shares of RPC during the 2nd quarter valued at approximately $6,469,000. Dimensional Fund Advisors LP lifted its position in shares of RPC by 7.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 12,543,337 shares of the oil and gas company’s stock valued at $88,809,000 after buying an additional 883,118 shares in the last quarter. Finally, Bank of America Corp DE acquired a new stake in RPC in the 2nd quarter valued at $4,847,000. 41.06% of the stock is owned by institutional investors and hedge funds.

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.