Round Rock Advisors LLC Invests $584,000 in RPC, Inc. $RES

Round Rock Advisors LLC bought a new stake in RPC, Inc. (NYSE:RES) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 100,088 shares of the oil and gas company’s stock, valued at approximately $584,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RES. EverSource Wealth Advisors LLC boosted its stake in RPC by 220.6% in the second quarter. EverSource Wealth Advisors LLC now owns 6,533 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 4,495 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in RPC by 243.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 8,681 shares of the oil and gas company’s stock worth $41,000 after buying an additional 6,153 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new stake in RPC during the 4th quarter worth about $48,000. State of Wyoming acquired a new stake in RPC in the 2nd quarter valued at about $54,000. Finally, CWM LLC increased its position in RPC by 88.2% in the 4th quarter. CWM LLC now owns 9,316 shares of the oil and gas company’s stock valued at $51,000 after acquiring an additional 4,365 shares in the last quarter. 41.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Weiss Ratings upgraded shares of RPC from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday. Susquehanna dropped their price objective on shares of RPC from $7.50 to $6.00 and set a “neutral” rating for the company in a research report on Wednesday, July 8th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, RPC presently has a consensus rating of “Reduce” and a consensus price target of $6.00.

RPC Stock Up 0.7%

Shares of NYSE RES opened at $6.59 on Thursday. The firm has a 50 day moving average price of $5.94 and a 200 day moving average price of $6.49. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.76 and a current ratio of 3.34. The stock has a market cap of $1.46 billion, a P/E ratio of 73.28 and a beta of 0.70. RPC, Inc. has a 52-week low of $4.18 and a 52-week high of $8.16.

RPC (NYSE:RES) last posted its earnings results on Thursday, July 30th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.04. The firm had revenue of $460.87 million during the quarter, compared to analysts’ expectations of $463.48 million. RPC had a return on equity of 4.82% and a net margin of 1.28%.The company’s revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.08 earnings per share. Analysts expect that RPC, Inc. will post 0.26 EPS for the current year.

RPC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 10th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Monday, August 10th. RPC’s dividend payout ratio is 177.78%.

RPC Company Profile

RPC, Inc (NYSE: RES) provides essential equipment and services to companies engaged in the exploration, production and maintenance of oil and natural gas wells. The firm operates as an equity interest holding company, partnering with a network of independent service businesses to deliver a comprehensive suite of offerings for well completion and production operations.

Through its affiliated service companies, RPC offers pressure pumping and fracturing services, coiled tubing and nitrogen pumping, downhole tools and telemetry solutions, well intervention and workover services, along with rental tools and supply-chain logistics.