VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in RPC, Inc. $RES

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of RPC, Inc. (NYSE:RES) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,000 shares of the oil and gas company’s stock, valued at approximately $47,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of RES. Nuveen LLC acquired a new position in shares of RPC during the first quarter worth $2,299,000. American Century Companies Inc. grew its stake in shares of RPC by 11.5% during the first quarter. American Century Companies Inc. now owns 3,388,807 shares of the oil and gas company’s stock worth $18,638,000 after purchasing an additional 349,226 shares in the last quarter. Range Financial Group LLC acquired a new position in shares of RPC during the second quarter worth $1,309,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of RPC during the first quarter worth $1,432,000. Finally, Denali Advisors LLC acquired a new position in shares of RPC during the first quarter worth $1,386,000. Institutional investors and hedge funds own 41.06% of the company’s stock.

RPC Trading Up 0.1%

NYSE RES opened at $4.78 on Monday. 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, Inc. has a 52-week low of $4.10 and a 52-week high of $7.17. The firm has a 50-day moving average price of $4.62 and a 200 day moving average price of $4.74. The stock has a market capitalization of $1.05 billion, a P/E ratio of 18.37 and a beta of 0.83.

RPC (NYSE:RES) last announced its quarterly earnings data on Wednesday, November 16th. The oil and gas company reported $0.02 EPS for the quarter. RPC had a net margin of 3.77% and a return on equity of 5.65%. The firm had revenue of $225.31 million during the quarter. Equities research analysts expect that RPC, Inc. will post 0.31 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Stifel Nicolaus decreased their price objective 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. Piper Sandler decreased their price objective on shares of RPC from $5.00 to $4.00 and set an “underweight” rating for the company in a research note on Thursday, August 14th. Susquehanna decreased their price objective 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. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of RPC in a research note on Saturday. Three investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, RPC presently has a consensus rating of “Reduce” and an average price target of $4.69.

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.