Round Rock Advisors LLC Purchases Shares of 100,088 RPC, Inc. $RES

Round Rock Advisors LLC purchased a new position in shares of RPC, Inc. (NYSE:RES) during the 2nd quarter, Holdings Channel reports. The fund purchased 100,088 shares of the oil and gas company’s stock, valued at approximately $584,000.

Several other hedge funds also recently modified their holdings of RES. AQR Capital Management LLC boosted its holdings in shares of RPC by 1.1% in the 1st quarter. AQR Capital Management LLC now owns 544,365 shares of the oil and gas company’s stock valued at $2,994,000 after buying an additional 5,914 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of RPC by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,558 shares of the oil and gas company’s stock valued at $278,000 after purchasing an additional 2,190 shares during the last quarter. Strs Ohio bought a new position in RPC during the first quarter worth about $92,000. Rhumbline Advisers raised its stake in RPC by 3.2% in the 2nd quarter. Rhumbline Advisers now owns 306,126 shares of the oil and gas company’s stock worth $1,448,000 after purchasing an additional 9,481 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its position in RPC by 51,372.2% during the second quarter. Russell Investments Group Ltd. now owns 118,386 shares of the oil and gas company’s stock worth $560,000 after buying an additional 118,156 shares in the last quarter. Institutional investors own 41.06% of the company’s stock.

RPC Trading Up 0.7%

Shares of RES stock opened at $6.59 on Thursday. The stock’s fifty day simple moving average is $5.94 and its 200 day simple moving average is $6.49. RPC, Inc. has a twelve month low of $4.18 and a twelve month high of $8.16. The company has a quick ratio of 2.76, a current ratio of 3.34 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $1.46 billion, a P/E ratio of 73.28 and a beta of 0.70.

RPC (NYSE:RES) last posted its earnings results on Thursday, July 30th. The oil and gas company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.04 by $0.04. RPC had a net margin of 1.28% and a return on equity of 4.82%. The business had revenue of $460.87 million for the quarter, compared to the consensus estimate of $463.48 million. During the same period last year, the company earned $0.08 EPS. The firm’s revenue was up 9.5% compared to the same quarter last year. As a group, sell-side analysts predict that RPC, Inc. will post 0.26 EPS for the current fiscal year.

RPC Announces Dividend

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

Analyst Ratings Changes

Several research firms recently weighed in on RES. Weiss Ratings raised shares of RPC from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday. Susquehanna dropped their target price 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 analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $6.00.

RPC 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.