Cetera Investment Advisers Increases Stock Holdings in RPC, Inc. (NYSE:RES)

Cetera Investment Advisers raised its position in RPC, Inc. (NYSE:RES) by 9.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 92,321 shares of the oil and gas company’s stock after purchasing an additional 7,620 shares during the period. Cetera Investment Advisers’ holdings in RPC were worth $508,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in shares of RPC during the fourth quarter worth $64,000. Vise Technologies Inc. purchased a new stake in shares of RPC during the fourth quarter worth $66,000. Renaissance Technologies LLC purchased a new stake in shares of RPC during the fourth quarter worth $68,000. XTX Topco Ltd purchased a new stake in shares of RPC during the fourth quarter worth $69,000. Finally, Two Sigma Advisers LP purchased a new stake in shares of RPC during the fourth quarter worth $70,000. Institutional investors and hedge funds own 41.06% of the company’s stock.

RPC Stock Down 1.4%

Shares of RES opened at $4.37 on Friday. RPC, Inc. has a 52-week low of $4.10 and a 52-week high of $7.22. The company has a market capitalization of $963.87 million, a PE ratio of 16.81 and a beta of 0.88. The stock has a fifty day simple moving average of $4.84 and a two-hundred day simple moving average of $5.08. The company has a quick ratio of 2.16, a current ratio of 2.64 and a debt-to-equity ratio of 0.03.

RPC (NYSE:RES) last issued its earnings results on Thursday, July 24th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01). RPC had a return on equity of 5.65% and a net margin of 3.77%. The company had revenue of $420.81 million during the quarter, compared to analyst estimates of $421.08 million. During the same period last year, the business earned $0.15 earnings per share. The firm’s revenue was up 15.5% compared to the same quarter last year. As a group, equities analysts forecast that RPC, Inc. will post 0.31 EPS for the current year.

RPC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Monday, August 11th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, August 11th. RPC’s dividend payout ratio (DPR) is presently 61.54%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on RES shares. Stifel Nicolaus dropped their target price 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. Susquehanna cut their target price on RPC from $5.50 to $5.00 and set a “neutral” rating for the company in a research note on Friday, July 25th. Finally, Piper Sandler cut their target price on RPC from $5.00 to $4.00 and set an “underweight” rating for the company in a research note on Thursday.

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.