Schonfeld Strategic Advisors LLC Boosts Stock Holdings in RPC, Inc. (NYSE:RES)

Schonfeld Strategic Advisors LLC boosted its stake in RPC, Inc. (NYSE:RES) by 139.4% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 259,800 shares of the oil and gas company’s stock after purchasing an additional 151,300 shares during the quarter. Schonfeld Strategic Advisors LLC’s holdings in RPC were worth $1,543,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in RES. Franklin Resources Inc. grew its holdings in RPC by 3.8% during the 4th quarter. Franklin Resources Inc. now owns 48,030 shares of the oil and gas company’s stock valued at $285,000 after buying an additional 1,758 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of RPC by 9.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 21,950 shares of the oil and gas company’s stock valued at $130,000 after acquiring an additional 1,850 shares during the last quarter. Inspire Investing LLC grew its holdings in shares of RPC by 3.9% in the fourth quarter. Inspire Investing LLC now owns 66,994 shares of the oil and gas company’s stock valued at $398,000 after purchasing an additional 2,500 shares in the last quarter. Aquatic Capital Management LLC increased its position in 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 worth $479,000 after purchasing an additional 3,037 shares during the last quarter. Finally, HB Wealth Management LLC raised its stake in RPC by 12.9% during the fourth quarter. HB Wealth Management LLC now owns 32,280 shares of the oil and gas company’s stock valued at $192,000 after purchasing an additional 3,697 shares in the last quarter. Hedge funds and other institutional investors own 41.06% of the company’s stock.

Wall Street Analysts Forecast Growth

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

RPC Stock Down 1.7 %

Shares of RPC stock opened at $4.76 on Wednesday. The stock’s fifty day moving average is $5.11 and its two-hundred day moving average is $5.78. RPC, Inc. has a 52 week low of $4.10 and a 52 week high of $7.54. The company has a market capitalization of $1.05 billion, a PE ratio of 11.07 and a beta of 0.86.

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

RPC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 3.36%. RPC’s payout ratio is 44.44%.

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.