Wasatch Advisors LP Takes Position in RPC, Inc. (NYSE:RES)

Wasatch Advisors LP acquired a new stake in RPC, Inc. (NYSE:RES) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 160,129 shares of the oil and gas company’s stock, valued at approximately $1,239,000. Wasatch Advisors LP owned 0.07% of RPC as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in RES. Signaturefd LLC grew its position in shares of RPC by 67.3% in the fourth quarter. Signaturefd LLC now owns 4,580 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 1,843 shares during the period. International Assets Investment Management LLC grew its position in RPC by 632.1% during the fourth quarter. International Assets Investment Management LLC now owns 5,125 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 4,425 shares during the period. Register Financial Advisors LLC purchased a new stake in RPC during the first quarter valued at about $39,000. ICA Group Wealth Management LLC purchased a new stake in RPC during the fourth quarter valued at about $47,000. Finally, TFO Wealth Partners LLC grew its position in RPC by 304,100.0% during the fourth quarter. TFO Wealth Partners LLC now owns 9,126 shares of the oil and gas company’s stock valued at $66,000 after acquiring an additional 9,123 shares during the period. Hedge funds and other institutional investors own 41.06% of the company’s stock.

RPC Trading Down 0.8 %

Shares of RES traded down $0.05 during midday trading on Tuesday, reaching $6.08. 1,058,002 shares of the company were exchanged, compared to its average volume of 1,612,548. The stock has a 50-day moving average price of $6.63 and a 200-day moving average price of $7.11. The company has a market cap of $1.30 billion, a price-to-earnings ratio of 8.69 and a beta of 1.59. RPC, Inc. has a 1-year low of $5.97 and a 1-year high of $9.41.

RPC (NYSE:RES) last issued its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The company had revenue of $377.80 million for the quarter, compared to analyst estimates of $393.33 million. RPC had a return on equity of 15.02% and a net margin of 9.95%. The company’s revenue for the quarter was down 20.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.39 EPS. Equities research analysts anticipate that RPC, Inc. will post 0.71 earnings per share for the current year.

RPC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Friday, May 10th were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date was Thursday, May 9th. RPC’s dividend payout ratio is presently 22.86%.

Analyst Ratings Changes

Separately, Susquehanna lowered their price target on RPC from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Friday, April 26th.

RPC Profile

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.