Inspire Investing LLC Grows Position in RPC, Inc. $RES

Inspire Investing LLC lifted its position in RPC, Inc. (NYSE:RES) by 31.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,752 shares of the oil and gas company’s stock after buying an additional 19,816 shares during the quarter. Inspire Investing LLC’s holdings in RPC were worth $391,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State of Wyoming purchased a new stake in shares of RPC in the first quarter worth about $53,000. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of RPC in the first quarter worth about $64,000. Teacher Retirement System of Texas purchased a new stake in shares of RPC in the first quarter worth about $69,000. DRW Securities LLC purchased a new stake in shares of RPC in the first quarter worth about $70,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of RPC in the second quarter worth about $69,000. 41.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RES. Weiss Ratings reissued a “sell (d+)” rating on shares of RPC in a report on Wednesday, October 8th. Susquehanna lowered their price target 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. Piper Sandler lowered their price target on shares of RPC from $5.00 to $4.00 and set an “underweight” rating on the stock in a report on Thursday, August 14th. Finally, Stifel Nicolaus lowered their target price on shares of RPC from $6.00 to $5.00 and set a “hold” rating on the stock in a research note on Wednesday, July 16th. Three research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $4.69.

RPC Trading Up 0.1%

Shares of RES opened at $4.33 on Wednesday. The firm’s 50 day simple moving average is $4.62 and its 200 day simple moving average is $4.76. The company has a market capitalization of $953.97 million, a P/E ratio of 16.64 and a beta of 0.83. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.64 and a quick ratio of 2.16. RPC, Inc. has a 1-year low of $4.10 and a 1-year high of $7.17.

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

RPC Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Monday, August 11th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.16 annualized dividend and a dividend yield of 3.7%. RPC’s dividend payout ratio (DPR) is 61.54%.

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.