Savant Capital LLC Invests $165,000 in RPC, Inc. $RES

Savant Capital LLC bought a new stake in RPC, Inc. (NYSE:RES) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 34,866 shares of the oil and gas company’s stock, valued at approximately $165,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its holdings in RPC by 1.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,692,483 shares of the oil and gas company’s stock worth $8,005,000 after purchasing an additional 23,408 shares during the last quarter. Versor Investments LP increased its position in shares of RPC by 187.6% during the second quarter. Versor Investments LP now owns 71,900 shares of the oil and gas company’s stock worth $340,000 after buying an additional 46,900 shares during the period. Envestnet Asset Management Inc. raised its stake in RPC by 4.8% during the second quarter. Envestnet Asset Management Inc. now owns 321,915 shares of the oil and gas company’s stock worth $1,523,000 after buying an additional 14,782 shares during the last quarter. MQS Management LLC bought a new position in RPC during the second quarter worth $236,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in RPC in the second quarter valued at $47,000. Institutional investors and hedge funds own 41.06% of the company’s stock.

RPC Trading Down 2.4%

NYSE RES opened at $5.08 on Friday. The company has a market cap of $1.12 billion, a price-to-earnings ratio of 19.52 and a beta of 0.80. RPC, Inc. has a 52 week low of $4.10 and a 52 week high of $7.17. The business has a 50 day moving average price of $4.87 and a 200-day moving average price of $4.80. The company has a quick ratio of 2.16, a current ratio of 2.64 and a debt-to-equity ratio of 0.03.

RPC (NYSE:RES) last issued its earnings results on Wednesday, November 16th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter. The company had revenue of $225.31 million for the quarter. RPC had a return on equity of 5.65% and a net margin of 3.77%. As a group, equities analysts expect that RPC, Inc. will post 0.31 earnings per share for the current fiscal year.

RPC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Monday, November 10th. RPC’s dividend payout ratio (DPR) is currently 69.57%.

Analysts Set New Price Targets

RES has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of RPC in a report on Wednesday, October 8th. Piper Sandler cut their target price on RPC from $5.00 to $4.00 and set an “underweight” rating on the stock in a research report on Thursday, August 14th. Wall Street Zen cut RPC from a “buy” rating to a “hold” rating in a research note on Sunday, November 16th. Finally, Susquehanna lowered their target price on RPC from $5.50 to $5.00 and set a “neutral” rating for the company in a report on Friday, July 25th. Three investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, RPC currently has a consensus rating of “Reduce” and an average price target of $4.69.

RPC Company 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.