RPC, Inc. $RES Shares Purchased by Bridgeway Capital Management LLC

Bridgeway Capital Management LLC raised its stake in shares of RPC, Inc. (NYSE:RES) by 1.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,684,972 shares of the oil and gas company’s stock after buying an additional 19,014 shares during the quarter. Bridgeway Capital Management LLC’s holdings in RPC were worth $9,267,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. State of Wyoming acquired a new stake in RPC during the first quarter worth approximately $53,000. Raymond James Financial Inc. purchased a new position in shares of RPC during the 4th quarter worth $64,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in shares of RPC during the first quarter worth $64,000. Vise Technologies Inc. purchased a new stake in shares of RPC in the fourth quarter valued at $66,000. Finally, Renaissance Technologies LLC acquired a new position in RPC in the fourth quarter valued at $68,000. 41.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Stifel Nicolaus dropped their price objective on shares of RPC from $6.00 to $5.00 and set a “hold” rating for the company in a research note on Wednesday, July 16th. Susquehanna lowered their target price on shares of RPC from $5.50 to $5.00 and set a “neutral” rating for the company in a report on Friday, July 25th. Finally, Piper Sandler dropped their price target on shares of RPC from $5.00 to $4.00 and set an “underweight” rating for the company in a research report on Thursday, August 14th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $4.69.

RPC Trading Down 3.7%

NYSE:RES opened at $4.61 on Thursday. The business’s 50-day moving average is $4.75 and its two-hundred day moving average is $4.95. The firm has a market capitalization of $1.02 billion, a PE ratio of 17.71 and a beta of 0.89. RPC, Inc. has a 12 month low of $4.10 and a 12 month high of $7.22. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.64 and a quick ratio of 2.16.

RPC (NYSE:RES) last posted its earnings results on Thursday, July 24th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). The company had revenue of $420.81 million during the quarter, compared to analyst estimates of $421.08 million. RPC had a net margin of 3.77% and a return on equity of 5.65%. RPC’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.15 EPS. Research analysts predict that RPC, Inc. will post 0.31 earnings per share for the current fiscal year.

RPC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Monday, August 11th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, August 11th. RPC’s payout ratio is presently 61.54%.

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.