Inspire Investing LLC Raises Stock Holdings in RPC, Inc. (NYSE:RES)

Inspire Investing LLC lifted its stake in RPC, Inc. (NYSE:RES) by 15.3% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,494 shares of the oil and gas company’s stock after buying an additional 8,552 shares during the quarter. Inspire Investing LLC’s holdings in RPC were worth $410,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. CWM LLC raised its stake in RPC by 256.5% during the 2nd quarter. CWM LLC now owns 5,112 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 3,678 shares during the period. Register Financial Advisors LLC bought a new stake in shares of RPC during the 1st quarter valued at $39,000. Innealta Capital LLC purchased a new position in shares of RPC during the 2nd quarter valued at $44,000. Vanguard Personalized Indexing Management LLC boosted its holdings in RPC by 38.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,821 shares of the oil and gas company’s stock worth $93,000 after buying an additional 4,136 shares during the period. Finally, nVerses Capital LLC boosted its holdings in RPC by 352.9% in the 2nd quarter. nVerses Capital LLC now owns 15,400 shares of the oil and gas company’s stock worth $96,000 after buying an additional 12,000 shares during the period. 41.06% of the stock is owned by hedge funds and other institutional investors.

RPC Stock Down 2.7 %

Shares of RPC stock opened at $6.40 on Friday. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 11.64 and a beta of 1.55. RPC, Inc. has a twelve month low of $5.66 and a twelve month high of $9.22. The business has a 50-day moving average price of $6.42 and a 200-day moving average price of $6.65.

RPC (NYSE:RES) last released its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. The business had revenue of $364.20 million for the quarter, compared to the consensus estimate of $381.18 million. RPC had a return on equity of 11.52% and a net margin of 8.08%. The company’s revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 EPS. On average, equities analysts expect that RPC, Inc. will post 0.55 EPS for the current fiscal year.

RPC Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend was Friday, August 9th. RPC’s payout ratio is 29.09%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RES. Susquehanna dropped their price objective on RPC from $7.00 to $6.50 and set a “neutral” rating for the company in a research note on Thursday, July 11th. Citigroup dropped their price target on RPC from $6.75 to $5.25 and set a “sell” rating for the company in a research note on Wednesday, July 10th. Finally, Stifel Nicolaus reduced their price objective on shares of RPC from $8.00 to $7.00 and set a “hold” rating on the stock in a research report on Friday, October 11th.

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.