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

RPC, Inc. (NYSE:RES - Get Free Report) hit a new 52-week low on Thursday . The company traded as low as $4.93 and last traded at $4.94, with a volume of 256767 shares. The stock had previously closed at $5.72.

Wall Street Analyst Weigh In

Separately, Citigroup raised RPC from a "sell" rating to a "neutral" rating and decreased their price objective for the company from $5.50 to $4.75 in a report on Tuesday.

RPC Stock Performance

The firm's fifty day simple moving average is $5.53 and its 200 day simple moving average is $6.02. The stock has a market capitalization of $994.92 million, a P/E ratio of 10.71 and a beta of 1.27.

RPC (NYSE:RES - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.06. RPC had a net margin of 6.46% and a return on equity of 8.62%. Analysts anticipate that RPC, Inc. will post 0.31 earnings per share for the current fiscal year.

RPC Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were paid a $0.04 dividend. The ex-dividend date was Monday, February 10th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 3.47%. RPC's payout ratio is currently 37.21%.

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Institutional Trading of RPC

Several hedge funds and other institutional investors have recently made changes to their positions in RES. ExodusPoint Capital Management LP bought a new stake in shares of RPC in the 4th quarter valued at about $3,632,000. Van ECK Associates Corp raised its holdings in RPC by 27.2% during the 4th quarter. Van ECK Associates Corp now owns 2,838,991 shares of the oil and gas company's stock worth $16,863,000 after purchasing an additional 607,255 shares during the last quarter. First Trust Advisors LP lifted its position in shares of RPC by 690.7% in the 4th quarter. First Trust Advisors LP now owns 657,981 shares of the oil and gas company's stock worth $3,908,000 after purchasing an additional 574,765 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of RPC by 4.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 11,620,598 shares of the oil and gas company's stock valued at $69,025,000 after purchasing an additional 459,700 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of RPC by 11.2% in the 4th quarter. American Century Companies Inc. now owns 3,039,581 shares of the oil and gas company's stock valued at $18,055,000 after purchasing an additional 306,976 shares during the last quarter. 41.06% of the stock is currently owned by institutional investors.

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.