Syon Capital LLC Purchases Shares of 11,244 RPC, Inc. (NYSE:RES)

Syon Capital LLC purchased a new stake in shares of RPC, Inc. (NYSE:RES) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 11,244 shares of the oil and gas company’s stock, valued at approximately $82,000.

Several other large investors have also added to or reduced their stakes in the company. CoreCommodity Management LLC lifted its holdings in RPC by 128.1% during the fourth quarter. CoreCommodity Management LLC now owns 96,465 shares of the oil and gas company’s stock valued at $702,000 after purchasing an additional 54,178 shares in the last quarter. TFO Wealth Partners LLC raised its position in shares of RPC by 304,100.0% during the fourth quarter. TFO Wealth Partners LLC now owns 9,126 shares of the oil and gas company’s stock valued at $66,000 after buying an additional 9,123 shares during the last quarter. Aigen Investment Management LP raised its position in shares of RPC by 740.0% during the fourth quarter. Aigen Investment Management LP now owns 110,665 shares of the oil and gas company’s stock valued at $806,000 after buying an additional 97,491 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of RPC during the fourth quarter valued at approximately $183,000. Finally, First Eagle Investment Management LLC raised its position in shares of RPC by 1.0% during the fourth quarter. First Eagle Investment Management LLC now owns 278,049 shares of the oil and gas company’s stock valued at $2,024,000 after buying an additional 2,850 shares during the last quarter. Hedge funds and other institutional investors own 41.06% of the company’s stock.

RPC Stock Performance

Shares of RES opened at $6.11 on Wednesday. The company’s fifty day moving average is $7.01 and its 200 day moving average is $7.18. RPC, Inc. has a fifty-two week low of $5.97 and a fifty-two week high of $9.41. The stock has a market capitalization of $1.31 billion, a PE ratio of 8.73 and a beta of 1.56.

RPC (NYSE:RES) last announced its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.06). RPC had a return on equity of 15.02% and a net margin of 9.95%. The business had revenue of $377.80 million during the quarter, compared to the consensus estimate of $393.33 million. During the same quarter in the prior year, the firm posted $0.39 EPS. The company’s revenue for the quarter was down 20.7% on a year-over-year basis. As a group, research analysts forecast that RPC, Inc. will post 0.71 earnings per share for the current year.

RPC Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 2.62%. The ex-dividend date was Thursday, May 9th. RPC’s dividend payout ratio is presently 22.86%.

Wall Street Analysts Forecast Growth

Separately, Susquehanna reduced their price objective on shares of RPC from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Friday, April 26th.

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.