RPC (RES) Hits New 1-Year Low at $9.09

RPC, Inc. (NYSE:RES)’s share price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $9.09 and last traded at $9.13, with a volume of 13174 shares changing hands. The stock had previously closed at $9.12.

Several research firms have recently issued reports on RES. Bank of America reiterated an “underperform” rating and set a $9.50 target price (down from $12.00) on shares of RPC in a report on Thursday, April 25th. Goldman Sachs Group began coverage on shares of RPC in a report on Sunday, March 10th. They set a “sell” rating and a $10.00 target price for the company. ValuEngine upgraded shares of RPC from a “strong sell” rating to a “sell” rating in a report on Monday, April 1st. Morgan Stanley upgraded shares of RPC from an “underweight” rating to an “overweight” rating and lifted their target price for the company from $11.00 to $15.00 in a report on Thursday, April 4th. Finally, Susquehanna Bancshares set a $13.00 target price on shares of RPC and gave the company a “hold” rating in a report on Tuesday, April 2nd. Nine research analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the stock. RPC has a consensus rating of “Hold” and a consensus price target of $12.38.

The stock has a market cap of $1.96 billion, a price-to-earnings ratio of 11.01, a P/E/G ratio of 3.88 and a beta of 0.93. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.77 and a current ratio of 3.53.

RPC (NYSE:RES) last announced its quarterly earnings results on Wednesday, April 24th. The oil and gas company reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.05). The firm had revenue of $334.70 million for the quarter, compared to the consensus estimate of $351.95 million. RPC had a net margin of 7.57% and a return on equity of 11.99%. RPC’s revenue was down 23.3% on a year-over-year basis. During the same period last year, the business earned $0.24 EPS. On average, equities analysts anticipate that RPC, Inc. will post 0.23 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 2.21%. The ex-dividend date of this dividend is Thursday, May 9th. RPC’s dividend payout ratio (DPR) is currently 24.39%.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of RPC by 1.6% during the first quarter. BlackRock Inc. now owns 2,720,874 shares of the oil and gas company’s stock valued at $31,044,000 after acquiring an additional 43,424 shares in the last quarter. Van ECK Associates Corp increased its position in shares of RPC by 78.4% during the fourth quarter. Van ECK Associates Corp now owns 2,290,317 shares of the oil and gas company’s stock valued at $22,605,000 after acquiring an additional 1,006,368 shares in the last quarter. Royce & Associates LP grew its position in RPC by 1.2% in the 1st quarter. Royce & Associates LP now owns 2,095,261 shares of the oil and gas company’s stock worth $23,907,000 after purchasing an additional 25,717 shares during the period. Dimensional Fund Advisors LP grew its position in RPC by 6.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,857,948 shares of the oil and gas company’s stock worth $21,199,000 after purchasing an additional 119,787 shares during the period. Finally, Bank of New York Mellon Corp grew its position in RPC by 147.2% in the 4th quarter. Bank of New York Mellon Corp now owns 1,728,259 shares of the oil and gas company’s stock worth $17,059,000 after purchasing an additional 1,029,104 shares during the period. 32.29% of the stock is owned by institutional investors.

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RPC Company Profile (NYSE:RES)

RPC, Inc, through its subsidiaries, provides 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 offers pressure pumping, fracturing, acidizing, 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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