Bridge City Capital LLC Grows Stock Holdings in RPC, Inc. (NYSE:RES)

Bridge City Capital LLC grew its position in RPC, Inc. (NYSE:RES) by 1.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 281,538 shares of the oil and gas company’s stock after acquiring an additional 3,593 shares during the quarter. Bridge City Capital LLC’s holdings in RPC were worth $1,548,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in RPC by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,368 shares of the oil and gas company’s stock valued at $287,000 after purchasing an additional 1,697 shares during the last quarter. Franklin Resources Inc. raised its position in shares of RPC by 3.8% during the 4th quarter. Franklin Resources Inc. now owns 48,030 shares of the oil and gas company’s stock worth $285,000 after buying an additional 1,758 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of RPC by 9.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 21,950 shares of the oil and gas company’s stock worth $130,000 after buying an additional 1,850 shares in the last quarter. Comerica Bank boosted its position in shares of RPC by 3.6% during the 4th quarter. Comerica Bank now owns 86,007 shares of the oil and gas company’s stock valued at $511,000 after purchasing an additional 2,979 shares in the last quarter. Finally, Aquatic Capital Management LLC increased its holdings in shares of RPC by 3.9% in the fourth quarter. Aquatic Capital Management LLC now owns 80,637 shares of the oil and gas company’s stock valued at $479,000 after buying an additional 3,037 shares in the last quarter. 41.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Susquehanna reduced their price target on shares of RPC from $6.00 to $5.50 and set a “neutral” rating for the company in a research report on Monday, April 14th. Citigroup raised RPC from a “sell” rating to a “neutral” rating and lowered their target price for the company from $5.50 to $4.75 in a report on Tuesday, April 8th.

RPC Price Performance

RES opened at $4.66 on Monday. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of 10.83 and a beta of 0.85. The business’s 50-day moving average price is $4.76 and its two-hundred day moving average price is $5.57. RPC, Inc. has a 1 year low of $4.10 and a 1 year high of $7.54.

RPC (NYSE:RES) last released its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). The business had revenue of $332.88 million during the quarter, compared to the consensus estimate of $326.72 million. RPC had a net margin of 6.46% and a return on equity of 8.62%. RPC’s quarterly revenue was down 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.13 EPS. Sell-side analysts anticipate that RPC, Inc. will post 0.31 earnings per share for the current fiscal year.

RPC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.16 dividend on an annualized basis and a yield of 3.44%. RPC’s payout ratio is 44.44%.

RPC Company 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.