Two Sigma Advisers LP Acquires New Position in RPC, Inc. (NYSE:RES)

Two Sigma Advisers LP bought a new position in shares of RPC, Inc. (NYSE:RES) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 11,842 shares of the oil and gas company’s stock, valued at approximately $70,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Two Sigma Investments LP increased its position in shares of RPC by 68.8% during the fourth quarter. Two Sigma Investments LP now owns 330,114 shares of the oil and gas company’s stock worth $1,961,000 after acquiring an additional 134,579 shares during the period. ProShare Advisors LLC grew its stake in RPC by 44.6% during the 4th quarter. ProShare Advisors LLC now owns 25,563 shares of the oil and gas company’s stock worth $152,000 after purchasing an additional 7,880 shares in the last quarter. Quantedge Capital Pte Ltd acquired a new position in RPC during the 4th quarter worth $105,000. Quantinno Capital Management LP purchased a new stake in RPC during the 4th quarter worth about $101,000. Finally, Numerai GP LLC raised its position in RPC by 1,028.6% in the 4th quarter. Numerai GP LLC now owns 124,473 shares of the oil and gas company’s stock valued at $739,000 after purchasing an additional 113,444 shares in the last quarter. 41.06% of the stock is currently owned by institutional investors and hedge funds.

RPC Price Performance

RPC stock opened at $4.66 on Monday. RPC, Inc. has a 1-year low of $4.10 and a 1-year high of $7.54. The stock has a market cap of $1.03 billion, a PE ratio of 10.83 and a beta of 0.85. The stock’s fifty day moving average is $4.76 and its two-hundred day moving average is $5.57.

RPC (NYSE:RES) last released its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The business had revenue of $332.88 million during the quarter, compared to analysts’ expectations of $326.72 million. RPC had a net margin of 6.46% and a return on equity of 8.62%. The company’s revenue was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 EPS. On average, research analysts expect that RPC, Inc. will post 0.31 earnings per share for the current fiscal year.

RPC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.16 dividend on an annualized basis and a yield of 3.44%. RPC’s payout ratio is currently 44.44%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on RES shares. Susquehanna lowered their price objective on RPC from $6.00 to $5.50 and set a “neutral” rating for the company in a research report on Monday, April 14th. Citigroup upgraded shares of RPC from a “sell” rating to a “neutral” rating and decreased their price target for the stock from $5.50 to $4.75 in a research note on Tuesday, 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.