RPC, Inc. (NYSE:RES) Shares Bought by SummerHaven Investment Management LLC

SummerHaven Investment Management LLC boosted its stake in RPC, Inc. (NYSE:RES) by 1.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 134,642 shares of the oil and gas company’s stock after acquiring an additional 2,346 shares during the quarter. SummerHaven Investment Management LLC owned 0.06% of RPC worth $741,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RES. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in RPC by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,368 shares of the oil and gas company’s stock valued at $287,000 after buying an additional 1,697 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of RPC by 3.8% during the fourth quarter. Franklin Resources Inc. now owns 48,030 shares of the oil and gas company’s stock valued at $285,000 after acquiring an additional 1,758 shares during the last quarter. Steward Partners Investment Advisory LLC raised its holdings in shares of RPC by 9.2% during the fourth 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. Comerica Bank lifted its position in shares of RPC by 3.6% in the fourth quarter. Comerica Bank now owns 86,007 shares of the oil and gas company’s stock valued at $511,000 after acquiring an additional 2,979 shares in the last quarter. Finally, Aquatic Capital Management LLC increased its position in shares of RPC by 3.9% during 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 in the last quarter. Hedge funds and other institutional investors own 41.06% of the company’s stock.

Analysts Set New Price Targets

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

RPC Stock Performance

NYSE RES opened at $4.95 on Thursday. The stock’s fifty day moving average is $4.76 and its two-hundred day moving average is $5.55. The firm has a market capitalization of $1.09 billion, a P/E ratio of 11.50 and a beta of 0.85. RPC, Inc. has a fifty-two week low of $4.10 and a fifty-two week high of $7.54.

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

RPC Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were paid a $0.04 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $0.16 annualized dividend and a dividend yield of 3.24%. RPC’s dividend payout ratio (DPR) is 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.