RPC, Inc. (NYSE:RES) Shares Purchased by Inspire Investing LLC

Inspire Investing LLC raised its stake in shares of RPC, Inc. (NYSE:RES) by 21.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,942 shares of the oil and gas company’s stock after buying an additional 9,721 shares during the period. Inspire Investing LLC’s holdings in RPC were worth $350,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. CWM LLC increased 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 valued at $32,000 after buying an additional 3,678 shares during the period. Register Financial Advisors LLC bought a new position in shares of RPC during the 1st quarter valued at about $39,000. Innealta Capital LLC bought a new position in shares of RPC during the 2nd quarter valued at about $44,000. ICA Group Wealth Management LLC bought a new position in shares of RPC during the 4th quarter valued at about $47,000. Finally, TFO Wealth Partners LLC boosted its position in shares of RPC by 304,100.0% during the 4th quarter. TFO Wealth Partners LLC now owns 9,126 shares of the oil and gas company’s stock valued at $66,000 after purchasing an additional 9,123 shares in the last quarter. Institutional investors and hedge funds own 41.06% of the company’s stock.

Analysts Set New Price Targets

RES has been the subject of several research reports. Susquehanna reduced their price objective on shares of RPC from $7.00 to $6.50 and set a “neutral” rating for the company in a research report on Thursday, July 11th. Citigroup reduced their price objective on shares of RPC from $6.75 to $5.25 and set a “sell” rating for the company in a research report on Wednesday, July 10th. Finally, Stifel Nicolaus decreased their target price on shares of RPC from $8.00 to $7.00 and set a “hold” rating for the company in a report on Tuesday, July 16th.

RPC Price Performance

Shares of RES opened at $6.73 on Tuesday. RPC, Inc. has a one year low of $5.66 and a one year high of $9.41. The company has a 50-day moving average of $6.36 and a two-hundred day moving average of $6.76. The stock has a market cap of $1.44 billion, a price-to-earnings ratio of 9.61 and a beta of 1.56.

RPC (NYSE:RES) last announced its earnings results on Thursday, July 25th. The oil and gas company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.13 by $0.02. RPC had a net margin of 8.08% and a return on equity of 11.52%. The company had revenue of $364.20 million during the quarter, compared to analysts’ expectations of $381.18 million. During the same period last year, the company posted $0.30 earnings per share. The business’s revenue for the quarter was down 12.4% on a year-over-year basis. Analysts anticipate that RPC, Inc. will post 0.56 earnings per share for the current year.

RPC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date was Friday, August 9th. RPC’s 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.