Los Angeles Capital Management LLC Invests $875,000 in RPC, Inc. $RES

Los Angeles Capital Management LLC acquired a new position in RPC, Inc. (NYSE:RES) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 184,916 shares of the oil and gas company’s stock, valued at approximately $875,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State of Wyoming purchased a new stake in shares of RPC during the first quarter worth $53,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of RPC during the 2nd quarter valued at $47,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in RPC during the 1st quarter worth about $64,000. Teacher Retirement System of Texas bought a new position in RPC in the 1st quarter worth about $69,000. Finally, DRW Securities LLC purchased a new position in RPC during the 1st quarter valued at about $70,000. Institutional investors own 41.06% of the company’s stock.

RPC Trading Down 2.2%

Shares of RES opened at $5.38 on Friday. RPC, Inc. has a 1-year low of $4.10 and a 1-year high of $7.17. The company has a market capitalization of $1.19 billion, a P/E ratio of 20.69 and a beta of 0.80. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.64 and a quick ratio of 2.16. The firm’s 50 day simple moving average is $4.81 and its 200 day simple moving average is $4.79.

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

RPC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Monday, November 10th will be given a dividend of $0.04 per share. The ex-dividend date is Monday, November 10th. This represents a $0.16 dividend on an annualized basis and a yield of 3.0%. RPC’s dividend payout ratio (DPR) is presently 69.57%.

Wall Street Analysts Forecast Growth

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

RPC 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.