Arizona State Retirement System Acquires 2,581 Shares of RPC, Inc. (NYSE:RES)

Arizona State Retirement System grew its position in shares of RPC, Inc. (NYSE:RES) by 10.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,224 shares of the oil and gas company’s stock after purchasing an additional 2,581 shares during the quarter. Arizona State Retirement System’s holdings in RPC were worth $198,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Quarry LP increased its position in shares of RPC by 84.0% during the 1st quarter. Quarry LP now owns 3,764 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 1,718 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of RPC by 54.2% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 4,565 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 1,605 shares during the last quarter. Advisor Group Holdings Inc. increased its position in shares of RPC by 165.3% during the 4th quarter. Advisor Group Holdings Inc. now owns 5,076 shares of the oil and gas company’s stock valued at $46,000 after purchasing an additional 3,163 shares during the last quarter. Coppell Advisory Solutions Corp. bought a new position in shares of RPC during the 4th quarter valued at about $48,000. Finally, ICA Group Wealth Management LLC bought a new position in shares of RPC during the 1st quarter valued at about $50,000. 41.06% of the stock is currently owned by institutional investors.

RPC Price Performance

Shares of RES stock opened at $7.96 on Monday. The stock has a market capitalization of $1.71 billion, a PE ratio of 8.84 and a beta of 1.60. RPC, Inc. has a 1-year low of $6.34 and a 1-year high of $9.41. The business has a 50-day moving average of $7.57 and a 200 day moving average of $7.54.

RPC (NYSE:RES) last issued its earnings results on Thursday, January 25th. The oil and gas company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.01. The company had revenue of $394.50 million during the quarter, compared to analysts’ expectations of $374.22 million. RPC had a return on equity of 21.26% and a net margin of 12.06%. RPC’s quarterly revenue was down 18.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.41 EPS. Analysts anticipate that RPC, Inc. will post 0.88 EPS for the current year.

RPC Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 9th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend was Thursday, February 8th. RPC’s dividend payout ratio is presently 17.78%.

Wall Street Analysts Forecast Growth

Separately, Susquehanna increased their price objective on RPC from $6.50 to $8.00 and gave the company a “neutral” rating in a research report on Monday, April 8th.

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.