RPC (NYSE:RES) Reaches New 1-Year Low - What's Next?

RPC, Inc. (NYSE:RES - Get Free Report)'s share price reached a new 52-week low on Wednesday . The company traded as low as $5.54 and last traded at $5.61, with a volume of 231459 shares. The stock had previously closed at $5.67.

Analyst Upgrades and Downgrades

Separately, Citigroup increased their target price on shares of RPC from $5.25 to $5.50 and gave the stock a "sell" rating in a report on Thursday, February 20th.

RPC Price Performance

The company has a market capitalization of $1.20 billion, a P/E ratio of 12.97 and a beta of 1.58. The stock's 50 day moving average is $6.19 and its 200-day moving average is $6.23.

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

RPC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date is Monday, February 10th. RPC's payout ratio is currently 37.21%.

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Hedge Funds Weigh In On RPC

A number of institutional investors and hedge funds have recently made changes to their positions in RES. Pacer Advisors Inc. increased its stake in shares of RPC by 38.9% during the third quarter. Pacer Advisors Inc. now owns 12,029,993 shares of the oil and gas company's stock valued at $76,511,000 after purchasing an additional 3,371,490 shares in the last quarter. Hotchkis & Wiley Capital Management LLC bought a new position in shares of RPC during the third quarter valued at approximately $5,917,000. ExodusPoint Capital Management LP bought a new position in shares of RPC during the fourth quarter valued at approximately $3,632,000. Van ECK Associates Corp increased its stake in shares of RPC by 27.2% during the fourth quarter. Van ECK Associates Corp now owns 2,838,991 shares of the oil and gas company's stock valued at $16,863,000 after purchasing an additional 607,255 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in shares of RPC by 690.7% during the fourth quarter. First Trust Advisors LP now owns 657,981 shares of the oil and gas company's stock valued at $3,908,000 after purchasing an additional 574,765 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.