Susquehanna International Group LLP Purchases 113,607 Shares of RPC, Inc. $RES

Susquehanna International Group LLP boosted its position in shares of RPC, Inc. (NYSE:RES) by 146.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 191,227 shares of the oil and gas company’s stock after purchasing an additional 113,607 shares during the quarter. Susquehanna International Group LLP’s holdings in RPC were worth $1,115,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Empowered Funds LLC bought a new position in shares of RPC during the 2nd quarter worth $6,469,000. Bank of America Corp DE purchased a new stake in RPC in the second quarter worth about $4,847,000. Man Group plc bought a new position in RPC during the 2nd quarter worth about $92,000. Jupiter Topco LLC bought a new position in RPC during the 2nd quarter worth about $178,000. Finally, PDT Partners LLC purchased a new position in RPC during the 2nd quarter valued at about $77,000. 41.06% of the stock is owned by institutional investors.

RPC Stock Up 0.2%

Shares of RES stock opened at $6.41 on Monday. The stock’s fifty day moving average price is $5.92 and its 200 day moving average price is $6.47. RPC, Inc. has a 1-year low of $4.18 and a 1-year high of $8.16. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 71.22 and a beta of 0.67. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.34 and a quick ratio of 2.76.

RPC (NYSE:RES) last released its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.04. The company 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 firm’s revenue was up 9.5% compared to the same quarter last year. During the same period last year, the business posted $0.08 earnings per share. On average, research analysts expect that RPC, Inc. will post 0.26 earnings per share 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 given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, August 10th. RPC’s dividend payout ratio (DPR) is presently 177.78%.

Analyst Ratings Changes

Several brokerages have recently weighed in on RES. Susquehanna lowered their price target 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. Weiss Ratings cut RPC from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, August 14th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $6.00.

About RPC

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.