Carolina Wealth Advisors LLC Buys Shares of 16,066 RPC, Inc. $RES

Carolina Wealth Advisors LLC purchased a new stake in shares of RPC, Inc. (NYSE:RES) during the second quarter, Holdings Channel reports. The fund purchased 16,066 shares of the oil and gas company’s stock, valued at approximately $76,000.

Other large investors have also recently bought and sold shares of the company. State of Wyoming bought a new stake in shares of RPC during the 1st quarter worth about $53,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in RPC during the first quarter worth approximately $64,000. Teacher Retirement System of Texas acquired a new position in RPC during the first quarter valued at approximately $69,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of RPC in the second quarter valued at approximately $69,000. Finally, Two Sigma Advisers LP acquired a new position in RPC during the 4th quarter worth $70,000. 41.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on RES shares. Piper Sandler lowered their price target on RPC from $5.00 to $4.00 and set an “underweight” rating on the stock in a research report on Thursday, August 14th. Weiss Ratings reiterated a “sell (d+)” rating on shares of RPC in a report on Saturday, September 27th. Susquehanna dropped their target price on shares of RPC from $5.50 to $5.00 and set a “neutral” rating on the stock in a research report on Friday, July 25th. Finally, Stifel Nicolaus decreased their price target on shares of RPC from $6.00 to $5.00 and set a “hold” rating on the stock in a research report on Wednesday, July 16th. Three research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, RPC presently has a consensus rating of “Reduce” and a consensus price target of $4.69.

RPC Stock Up 2.8%

Shares of RES opened at $4.79 on Friday. The company has a quick ratio of 2.16, a current ratio of 2.64 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average price of $4.64 and a two-hundred day moving average price of $4.81. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 18.42 and a beta of 0.83. RPC, Inc. has a 12 month low of $4.10 and a 12 month high of $7.22.

RPC (NYSE:RES) last posted its earnings results on Thursday, July 24th. The oil and gas company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.01). RPC had a return on equity of 5.65% and a net margin of 3.77%.The company had revenue of $420.81 million for the quarter, compared to the consensus estimate of $421.08 million. During the same quarter last year, the business earned $0.15 EPS. RPC’s quarterly revenue was up 15.5% compared to the same quarter last year. Equities analysts predict that RPC, Inc. will post 0.31 EPS for the current fiscal year.

RPC Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Monday, August 11th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Monday, August 11th. RPC’s dividend payout ratio (DPR) is currently 61.54%.

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.