Denali Advisors LLC Makes New $1.47 Million Investment in RPC, Inc. $RES

Denali Advisors LLC purchased a new position in shares of RPC, Inc. (NYSE:RES) during the second quarter, Holdings Channel.com reports. The fund purchased 251,800 shares of the oil and gas company’s stock, valued at approximately $1,468,000.

Several other hedge funds have also recently modified their holdings of RES. EverSource Wealth Advisors LLC boosted its stake in RPC by 220.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,533 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 4,495 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of RPC by 243.4% during the second quarter. Tower Research Capital LLC TRC now owns 8,681 shares of the oil and gas company’s stock worth $41,000 after buying an additional 6,153 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in shares of RPC during the fourth quarter valued at $48,000. CWM LLC increased its position in shares of RPC by 88.2% in the 4th quarter. CWM LLC now owns 9,316 shares of the oil and gas company’s stock valued at $51,000 after acquiring an additional 4,365 shares during the period. Finally, State of Wyoming purchased a new position in RPC in the 2nd quarter worth $54,000. Institutional investors and hedge funds own 41.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on RES. Weiss Ratings cut RPC from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, August 14th. Susquehanna dropped their target price on RPC from $7.50 to $6.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 8th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $6.00.

RPC Trading Up 0.4%

NYSE RES opened at $6.34 on Thursday. RPC, Inc. has a 1 year low of $4.18 and a 1 year high of $8.16. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.34 and a quick ratio of 2.76. The company has a market capitalization of $1.41 billion, a PE ratio of 70.50 and a beta of 0.67. The company has a fifty day moving average of $5.99 and a 200 day moving average of $6.46.

RPC (NYSE:RES) last announced its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.04. The company had revenue of $460.87 million for the quarter, compared to the consensus estimate of $463.48 million. RPC had a return on equity of 4.82% and a net margin of 1.28%.The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period last year, the firm earned $0.08 EPS. Research analysts forecast that RPC, Inc. will post 0.26 earnings per share for the current year.

RPC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 10th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $0.16 dividend on an annualized basis and a yield of 2.5%. RPC’s payout ratio is presently 177.78%.

RPC Profile

RPC, Inc (NYSE: RES) provides essential equipment and services to companies engaged in the exploration, production and maintenance of oil and natural gas wells. The firm operates as an equity interest holding company, partnering with a network of independent service businesses to deliver a comprehensive suite of offerings for well completion and production operations.

Through its affiliated service companies, RPC offers pressure pumping and fracturing services, coiled tubing and nitrogen pumping, downhole tools and telemetry solutions, well intervention and workover services, along with rental tools and supply-chain logistics.