RPC (NYSE:RES) Sets New 1-Year Low – Time to Sell?

RPC, Inc. (NYSE:RES) shares hit a new 52-week low on Thursday . The company traded as low as $5.61 and last traded at $5.62, with a volume of 710011 shares changing hands. The stock had previously closed at $5.73.

Analyst Ratings Changes

A number of equities analysts recently issued reports on RES shares. Stifel Nicolaus reduced their target price on RPC from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Friday, October 11th. Susquehanna decreased their target price on RPC from $6.50 to $6.00 and set a “neutral” rating for the company in a report on Friday, October 25th.

RPC Stock Performance

The stock has a market cap of $1.21 billion, a PE ratio of 10.05 and a beta of 1.61. The company has a 50 day moving average of $6.18 and a two-hundred day moving average of $6.29.

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

RPC Announces Dividend

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

Hedge Funds Weigh In On RPC

A number of hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company lifted its position in shares of RPC by 3.7% during the second quarter. The Manufacturers Life Insurance Company now owns 51,819 shares of the oil and gas company’s stock worth $324,000 after purchasing an additional 1,869 shares in the last quarter. HighTower Advisors LLC boosted its position in RPC by 6.1% in the 3rd quarter. HighTower Advisors LLC now owns 40,082 shares of the oil and gas company’s stock valued at $252,000 after buying an additional 2,288 shares during the period. Franklin Resources Inc. grew its stake in shares of RPC by 8.5% in the third quarter. Franklin Resources Inc. now owns 46,272 shares of the oil and gas company’s stock worth $324,000 after acquiring an additional 3,633 shares in the last quarter. CWM LLC increased its position in shares of RPC by 256.5% during the second quarter. CWM LLC now owns 5,112 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 3,678 shares during the period. Finally, International Assets Investment Management LLC increased its position in shares of RPC by 540.4% during the third quarter. International Assets Investment Management LLC now owns 4,560 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 3,848 shares during the period. 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.