If you go back and read the transcript from their last CC an analyst asks them the same question, and their reply if memory serves essentially boiled down to more liquidity.
I don't personally find this to be especially persuasive. If I had to guess the company may be using this as a way of signaling to the market that the company is doing fine, we're bullish about the future, and please ignore the large recent dip in share price. But that's just my little pet theory.
Personally I think that RPC's selloff since July is overdone, and that the company is due for a decent rally in the next few months. I'm not going to predict that RPC'll get back to $15 in the near future, but it wouldn't shock me if it does. I bought some $10 June Calls so obviously a rally to $15 would be welcome. I will say this: give this stock some good news and it'll probably go up quite a lot.
I have been in this stock for a long time. This happens every time they split as far as I remember. It seems to drop substantially. The stock has always rebounded. Buy more at these levels. You won't regret it. Also, they seem to increase the dividend shortly after as well. I'm not saying to go all in, but I would most definitely add to your current position if you want to get in on the cheap. This will go to $18 to $20 by the end of the year.