18,800 Shares in RPC, Inc. $RES Bought by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. bought a new position in RPC, Inc. (NYSE:RES) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 18,800 shares of the oil and gas company’s stock, valued at approximately $103,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new stake in RPC in the fourth quarter worth $64,000. Vise Technologies Inc. bought a new stake in RPC in the fourth quarter worth $66,000. Renaissance Technologies LLC bought a new stake in RPC in the fourth quarter worth $68,000. XTX Topco Ltd bought a new stake in RPC in the fourth quarter worth $69,000. Finally, Two Sigma Advisers LP bought a new stake in RPC in the fourth quarter worth $70,000. 41.06% of the stock is currently owned by hedge funds and other institutional investors.

RPC Stock Performance

Shares of NYSE:RES opened at $4.37 on Monday. The company has a market cap of $963.89 million, a price-to-earnings ratio of 16.81 and a beta of 0.88. The company has a 50-day moving average price of $4.84 and a 200-day moving average price of $5.07. The company has a current ratio of 2.64, a quick ratio of 2.16 and a debt-to-equity ratio of 0.03. RPC, Inc. has a 12 month low of $4.10 and a 12 month high of $7.22.

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

RPC Announces Dividend

The business also recently declared 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. The ex-dividend date is Monday, August 11th. This represents a $0.16 annualized dividend and a dividend yield of 3.7%. RPC’s payout ratio is currently 61.54%.

Wall Street Analyst Weigh In

RES has been the subject of several recent research reports. Piper Sandler lowered their price target on shares of RPC from $5.00 to $4.00 and set an “underweight” rating for the company in a research note on Thursday. 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 research note on Wednesday, July 16th. Finally, Susquehanna lowered their price target on shares of RPC from $5.50 to $5.00 and set a “neutral” rating for the company in a research note on Friday, July 25th.

RPC 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.