Register Financial Advisors LLC Makes New Investment in RPC, Inc. (NYSE:RES)

Register Financial Advisors LLC acquired a new position in shares of RPC, Inc. (NYSE:RES) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 5,000 shares of the oil and gas company’s stock, valued at approximately $39,000.

Other large investors have also recently made changes to their positions in the company. Pacer Advisors Inc. grew its stake in RPC by 274.1% during the 4th quarter. Pacer Advisors Inc. now owns 8,277,488 shares of the oil and gas company’s stock valued at $60,260,000 after purchasing an additional 6,064,627 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in RPC by 7.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,684,052 shares of the oil and gas company’s stock worth $63,221,000 after buying an additional 579,638 shares during the period. Invesco Ltd. raised its position in RPC by 48.2% during the 3rd quarter. Invesco Ltd. now owns 1,507,687 shares of the oil and gas company’s stock worth $13,479,000 after buying an additional 490,538 shares during the last quarter. Partnership Wealth Management LLC purchased a new position in RPC during the 4th quarter worth approximately $1,855,000. Finally, American Century Companies Inc. lifted its stake in RPC by 41.4% during the 3rd quarter. American Century Companies Inc. now owns 761,195 shares of the oil and gas company’s stock valued at $6,805,000 after acquiring an additional 222,888 shares during the period. 41.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

RPC Stock Up 0.2 %

Shares of RES opened at $6.25 on Friday. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 8.93 and a beta of 1.56. RPC, Inc. has a 52 week low of $5.97 and a 52 week high of $9.41. The stock’s 50-day moving average price is $6.71 and its 200-day moving average price is $7.12.

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

RPC Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $0.16 annualized dividend and a yield of 2.56%. RPC’s dividend payout ratio is presently 22.86%.

About RPC

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.