RPC (NYSE:RES) Sets New 52-Week Low at $7.09
RPC, Inc. (NYSE:RES) shares reached a new 52-week low during trading on Wednesday . The stock traded as low as $7.09 and last traded at $7.14, with a volume of 57470 shares trading hands. The stock had previously closed at $7.35.
Several research analysts have recently commented on RES shares. Goldman Sachs Group started coverage on shares of RPC in a research note on Sunday, March 10th. They issued a “sell” rating and a $10.00 price objective for the company. ValuEngine raised shares of RPC from a “strong sell” rating to a “sell” rating in a research note on Monday, April 1st. Morgan Stanley raised shares of RPC from an “underweight” rating to an “overweight” rating and raised their price objective for the company from $11.00 to $15.00 in a research note on Thursday, April 4th. Susquehanna Bancshares set a $13.00 price objective on shares of RPC and gave the company a “hold” rating in a research note on Tuesday, April 2nd. Finally, Zacks Investment Research raised shares of RPC from a “sell” rating to a “hold” rating in a research note on Tuesday, February 26th. Nine analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $12.38.
The company has a current ratio of 3.53, a quick ratio of 2.77 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $1.62 billion, a PE ratio of 8.56, a P/E/G ratio of 5.80 and a beta of 1.15.
The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were paid a $0.05 dividend. The ex-dividend date was Thursday, May 9th. This represents a $0.20 dividend on an annualized basis and a yield of 2.84%. RPC’s dividend payout ratio is currently 24.39%.
Hedge funds have recently added to or reduced their stakes in the business. Marshall Wace North America L.P. acquired a new stake in RPC during the first quarter worth approximately $25,000. Golden State Wealth Management LLC acquired a new stake in RPC during the first quarter worth approximately $40,000. Amalgamated Bank acquired a new stake in RPC during the fourth quarter worth approximately $114,000. LPL Financial LLC raised its holdings in RPC by 26.6% during the fourth quarter. LPL Financial LLC now owns 12,756 shares of the oil and gas company’s stock worth $126,000 after purchasing an additional 2,680 shares in the last quarter. Finally, Great West Life Assurance Co. Can raised its holdings in RPC by 85.8% during the fourth quarter. Great West Life Assurance Co. Can now owns 13,984 shares of the oil and gas company’s stock worth $129,000 after purchasing an additional 6,459 shares in the last quarter. 31.97% of the stock is currently 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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