Ridgepost Capital (NYSE:RPC) Shares Gap Down - Here's Why

Key Points

• RPC shares fell sharply at the open, dropping from a prior close of $8.50 to $7.97 before recovering to about $8.35 on relatively light trading volume.
• Analyst sentiment remains cautiously positive: the stock has a “Moderate Buy” consensus rating and a $13 average price target, although Barclays and Oppenheimer recently lowered their targets.
• The company declared a quarterly dividend of $0.04 per share, implying a 1.9% annualized yield, while institutional investors own approximately 48.05% of the stock.

Ridgepost Capital, Inc (NYSE:RPC - Get Free Report)'s share price gapped down prior to trading on Tuesday . The stock had previously closed at $8.50, but opened at $7.97. Ridgepost Capital shares last traded at $8.35, with a volume of 9,831 shares trading hands.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Barclays reduced their target price on shares of Ridgepost Capital from $12.00 to $11.00 and set an "overweight" rating for the company in a research report on Monday, August 10th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Ridgepost Capital in a research note on Friday. Oppenheimer cut their price objective on shares of Ridgepost Capital from $16.00 to $15.00 and set an "outperform" rating for the company in a report on Thursday, August 27th. Finally, Wall Street Zen upgraded shares of Ridgepost Capital from a "hold" rating to a "buy" rating in a research report on Saturday. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $13.00.

Ridgepost Capital Trading Down 0.8%

The company has a debt-to-equity ratio of 0.95, a quick ratio of 2.71 and a current ratio of 2.71. The firm has a market cap of $929.10 million, a price-to-earnings ratio of 33.74 and a beta of 0.87. The business has a fifty day simple moving average of $8.48 and a 200-day simple moving average of $8.10.

Ridgepost Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Monday, August 31st will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Monday, August 31st. Ridgepost Capital's dividend payout ratio is currently 64.00%.

Institutional Trading of Ridgepost Capital

A number of large investors have recently bought and sold shares of the business. Susquehanna International Group LLP bought a new stake in Ridgepost Capital in the second quarter valued at $96,000. Caz Investments LP acquired a new stake in shares of Ridgepost Capital in the 2nd quarter valued at about $157,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Ridgepost Capital in the second quarter valued at approximately $988,000. Guardian Wealth Management Inc. bought a new position in shares of Ridgepost Capital in the 2nd quarter worth $2,996,000. Finally, California State Teachers Retirement System bought a new position in shares of Ridgepost Capital in the 2nd quarter worth $4,317,000. 48.05% of the stock is currently owned by institutional investors and hedge funds.

About Ridgepost Capital

P10 NYSE: RPC is an oilfield services company that provides specialized equipment and field services to upstream oil and gas operators. The company focuses on supplying non‑exclusive, rental and production support products and technical services that help customers complete, produce and maintain wells. Its offerings are designed to support a range of onshore operations, with emphasis on scalable, modular solutions that can be deployed across multiple basins.

Products and services typically include surface and downhole rental tools, completion and production accessories, well intervention and maintenance services, and related operational support.

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