Teacher Retirement System of Texas Acquires New Holdings in RPC, Inc. (NYSE:RES)

Teacher Retirement System of Texas purchased a new stake in shares of RPC, Inc. (NYSE:RES) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 12,571 shares of the oil and gas company’s stock, valued at approximately $69,000.

A number of other institutional investors have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of RPC by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,368 shares of the oil and gas company’s stock worth $287,000 after purchasing an additional 1,697 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of RPC by 3.8% during the fourth quarter. Franklin Resources Inc. now owns 48,030 shares of the oil and gas company’s stock worth $285,000 after buying an additional 1,758 shares during the period. SummerHaven Investment Management LLC raised its holdings in RPC by 1.8% during the first quarter. SummerHaven Investment Management LLC now owns 134,642 shares of the oil and gas company’s stock worth $741,000 after purchasing an additional 2,346 shares in the last quarter. Comerica Bank raised its holdings in RPC by 3.6% during the fourth quarter. Comerica Bank now owns 86,007 shares of the oil and gas company’s stock worth $511,000 after purchasing an additional 2,979 shares in the last quarter. Finally, Aquatic Capital Management LLC raised its holdings in RPC by 3.9% during the fourth quarter. Aquatic Capital Management LLC now owns 80,637 shares of the oil and gas company’s stock worth $479,000 after purchasing an additional 3,037 shares in the last quarter. 41.06% of the stock is owned by institutional investors and hedge funds.

RPC Price Performance

Shares of NYSE RES opened at $4.68 on Tuesday. RPC, Inc. has a one year low of $4.10 and a one year high of $7.54. The business’s 50-day moving average price is $4.85 and its two-hundred day moving average price is $5.34. The company has a market capitalization of $1.03 billion, a P/E ratio of 13.25 and a beta of 0.85.

RPC (NYSE:RES) last released its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $326.72 million. RPC had a return on equity of 7.08% and a net margin of 5.55%. The firm’s revenue was down 11.9% on a year-over-year basis. During the same quarter last year, the company earned $0.13 earnings per share. On average, equities analysts anticipate that RPC, Inc. will post 0.31 EPS for the current year.

RPC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were given a $0.04 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 3.42%. RPC’s payout ratio is 44.44%.

Analyst Ratings Changes

RES has been the topic of several research reports. Piper Sandler started coverage on shares of RPC in a research report on Monday, July 14th. They issued an “underweight” rating and a $5.00 price objective on the stock. Susquehanna reduced their target price on shares of RPC from $6.00 to $5.50 and set a “neutral” rating for the company in a research report on Monday, April 14th. Stifel Nicolaus lowered their price target on shares of RPC from $6.00 to $5.00 and set a “hold” rating for the company in a report on Wednesday, July 16th. Finally, Citigroup raised shares of RPC from a “sell” rating to a “neutral” rating and cut their price objective for the company from $5.50 to $4.75 in a research report 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.