RPC (NYSE:RES) Sets New 52-Week Low at $5.96

RPC, Inc. (NYSE:RES)’s stock price reached a new 52-week low on Friday . The company traded as low as $5.96 and last traded at $5.98, with a volume of 610920 shares traded. The stock had previously closed at $6.21.

Wall Street Analyst Weigh In

Separately, Susquehanna decreased their price target on shares of RPC from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Friday, April 26th.

RPC Price Performance

The stock has a market capitalization of $1.28 billion, a P/E ratio of 8.56 and a beta of 1.59. The stock has a 50 day moving average price of $6.58 and a 200-day moving average price of $7.09.

RPC (NYSE:RES) last posted its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.06). RPC had a return on equity of 15.02% and a net margin of 9.95%. The company had revenue of $377.80 million for the quarter, compared to the consensus estimate of $393.33 million. During the same quarter in the previous year, the business earned $0.39 earnings per share. RPC’s revenue was down 20.7% compared to the same quarter last year. Research analysts predict that RPC, Inc. will post 0.71 earnings per share for the current fiscal year.

RPC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Stockholders of record on Friday, May 10th were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 2.67%. The ex-dividend date was Thursday, May 9th. RPC’s dividend payout ratio (DPR) is 22.86%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RES. Signaturefd LLC raised its stake in RPC by 67.3% in the fourth quarter. Signaturefd LLC now owns 4,580 shares of the oil and gas company’s stock worth $33,000 after buying an additional 1,843 shares in the last quarter. Register Financial Advisors LLC purchased a new position in shares of RPC during the 1st quarter worth approximately $39,000. International Assets Investment Management LLC raised its position in shares of RPC by 632.1% in the 4th quarter. International Assets Investment Management LLC now owns 5,125 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 4,425 shares in the last quarter. ICA Group Wealth Management LLC purchased a new position in shares of RPC in the 4th quarter valued at approximately $47,000. Finally, TFO Wealth Partners LLC boosted its position in shares of RPC by 304,100.0% during the fourth quarter. TFO Wealth Partners LLC now owns 9,126 shares of the oil and gas company’s stock valued at $66,000 after purchasing an additional 9,123 shares in the last quarter. 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.