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RPC (NYSE:RES) Hits New 52-Week Low - Time to Sell?

RPC logo with Oils/Energy background

Shares of RPC, Inc. (NYSE:RES - Get Free Report) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $5.61 and last traded at $5.62, with a volume of 710011 shares trading hands. The stock had previously closed at $5.73.

Analysts Set New Price Targets

Several brokerages have recently commented on RES. Stifel Nicolaus lowered their price objective on shares of RPC from $8.00 to $7.00 and set a "hold" rating for the company in a research note on Friday, October 11th. Susquehanna reduced their price target on RPC from $6.50 to $6.00 and set a "neutral" rating on the stock in a report on Friday, October 25th.

Read Our Latest Report on RPC

RPC Price Performance

The business has a 50 day moving average of $6.15 and a 200 day moving average of $6.28. The company has a market cap of $1.21 billion, a PE ratio of 10.09 and a beta of 1.61.

RPC (NYSE:RES - Get Free Report) last posted its earnings results on Thursday, October 24th. The oil and gas company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.04). RPC had a return on equity of 11.36% and a net margin of 8.07%. The company had revenue of $337.70 million during the quarter, compared to analysts' expectations of $365.33 million. During the same period in the prior year, the business posted $0.08 earnings per share. The company's revenue for the quarter was up 2.2% on a year-over-year basis. Sell-side analysts forecast that RPC, Inc. will post 0.43 EPS for the current fiscal year.

RPC Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 11th were issued a dividend of $0.04 per share. The ex-dividend date was Friday, November 8th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.83%. RPC's dividend payout ratio (DPR) is 28.57%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its position in RPC by 3.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 51,819 shares of the oil and gas company's stock valued at $324,000 after acquiring an additional 1,869 shares during the period. HighTower Advisors LLC increased its stake in shares of RPC by 6.1% during the third quarter. HighTower Advisors LLC now owns 40,082 shares of the oil and gas company's stock valued at $252,000 after purchasing an additional 2,288 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of RPC by 8.5% during the third quarter. Franklin Resources Inc. now owns 46,272 shares of the oil and gas company's stock valued at $324,000 after purchasing an additional 3,633 shares during the last quarter. CWM LLC boosted its position in shares of RPC by 256.5% in the 2nd quarter. CWM LLC now owns 5,112 shares of the oil and gas company's stock worth $32,000 after purchasing an additional 3,678 shares in the last quarter. Finally, International Assets Investment Management LLC grew its stake in shares of RPC by 540.4% in the 3rd quarter. International Assets Investment Management LLC now owns 4,560 shares of the oil and gas company's stock worth $29,000 after buying an additional 3,848 shares during the last quarter. Hedge funds and other institutional investors own 41.06% of the company's stock.

About RPC

(Get Free Report)

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.

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