RPC, Inc. $RES Holdings Raised by Versor Investments LP

Versor Investments LP grew its position in RPC, Inc. (NYSE:RES) by 187.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,900 shares of the oil and gas company’s stock after acquiring an additional 46,900 shares during the quarter. Versor Investments LP’s holdings in RPC were worth $340,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. American Century Companies Inc. boosted its position in RPC by 11.5% during the 1st quarter. American Century Companies Inc. now owns 3,388,807 shares of the oil and gas company’s stock valued at $18,638,000 after purchasing an additional 349,226 shares during the period. Gabelli Funds LLC boosted its position in RPC by 0.3% during the 1st quarter. Gabelli Funds LLC now owns 2,269,415 shares of the oil and gas company’s stock valued at $12,482,000 after purchasing an additional 6,938 shares during the period. Charles Schwab Investment Management Inc. boosted its position in RPC by 10.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,865,119 shares of the oil and gas company’s stock valued at $10,258,000 after purchasing an additional 175,340 shares during the period. Bridgeway Capital Management LLC boosted its position in RPC by 1.1% during the 1st quarter. Bridgeway Capital Management LLC now owns 1,684,972 shares of the oil and gas company’s stock valued at $9,267,000 after purchasing an additional 19,014 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC boosted its position in RPC by 1.1% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 1,550,650 shares of the oil and gas company’s stock valued at $8,529,000 after purchasing an additional 16,470 shares during the period. 41.06% of the stock is currently owned by institutional investors.

RPC Trading Down 0.1%

Shares of RES stock opened at $5.42 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.16 and a current ratio of 2.64. RPC, Inc. has a 1 year low of $4.10 and a 1 year high of $7.17. The stock has a fifty day moving average of $4.72 and a two-hundred day moving average of $4.76. The firm has a market capitalization of $1.19 billion, a PE ratio of 20.83 and a beta of 0.83.

RPC (NYSE:RES) last announced its quarterly earnings results on Wednesday, November 16th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter. RPC had a return on equity of 5.65% and a net margin of 3.77%.The company had revenue of $225.31 million during the quarter. As a group, research analysts expect that RPC, Inc. will post 0.31 EPS for the current year.

RPC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Monday, November 10th. RPC’s payout ratio is currently 69.57%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on RES shares. Weiss Ratings restated a “sell (d+)” rating on shares of RPC in a research report on Wednesday, October 8th. Stifel Nicolaus reduced their price objective on RPC from $6.00 to $5.00 and set a “hold” rating for the company in a research report on Wednesday, July 16th. Susquehanna reduced their price objective on RPC from $5.50 to $5.00 and set a “neutral” rating for the company in a research report on Friday, July 25th. Finally, Piper Sandler reduced their price objective on RPC from $5.00 to $4.00 and set an “underweight” rating for the company in a research report on Thursday, August 14th. Three equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $4.69.

About RPC

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.