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

Schonfeld Strategic Advisors LLC raised its stake in shares of RPC, Inc. (NYSE:RES) by 139.4% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 259,800 shares of the oil and gas company’s stock after acquiring an additional 151,300 shares during the period. Schonfeld Strategic Advisors LLC owned approximately 0.12% of RPC worth $1,543,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Barclays PLC grew its position in RPC by 230.1% in the 3rd quarter. Barclays PLC now owns 182,943 shares of the oil and gas company’s stock worth $1,163,000 after purchasing an additional 127,525 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of RPC by 17.0% in the third quarter. JPMorgan Chase & Co. now owns 489,401 shares of the oil and gas company’s stock worth $3,113,000 after acquiring an additional 71,064 shares during the period. XTX Topco Ltd purchased a new stake in RPC during the fourth quarter valued at $69,000. HB Wealth Management LLC lifted its holdings in RPC by 12.9% in 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 acquiring an additional 3,697 shares during the period. Finally, Empowered Funds LLC boosted its position in RPC by 5.1% in the fourth quarter. Empowered Funds LLC now owns 928,958 shares of the oil and gas company’s stock worth $5,518,000 after purchasing an additional 45,468 shares during the last quarter. Hedge funds and other institutional investors own 41.06% of the company’s stock.

Analyst Ratings Changes

RES has been the subject of several research reports. Susquehanna reduced their price target on shares of RPC from $6.00 to $5.50 and set a “neutral” rating for the company in a research report on Monday, April 14th. Citigroup upgraded shares of RPC from a “sell” rating to a “neutral” rating and decreased their price target for the stock from $5.50 to $4.75 in a research report on Tuesday, April 8th.

RPC Stock Down 1.7 %

RES stock opened at $4.76 on Wednesday. The business’s 50-day moving average price is $5.11 and its 200-day moving average price is $5.78. The stock has a market cap of $1.05 billion, a P/E ratio of 11.07 and a beta of 0.86. RPC, Inc. has a twelve month low of $4.10 and a twelve month high of $7.54.

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

RPC Announces Dividend

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

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.