Caxton Associates LLP Buys Shares of 62,509 RPC, Inc. $RES

Key Points

• Caxton Associates LLP has purchased a new stake in RPC, Inc., acquiring 62,509 shares valued at approximately $344,000.
• Several institutional investors, including Price T Rowe Associates and Northern Trust Corp, have increased their holdings in RPC during the fourth quarter.
• RPC, Inc. reported earnings per share (EPS) of $0.08, missing the consensus estimate of $0.09, and plans to post a projected EPS of 0.31 for the current year.

Caxton Associates LLP purchased a new stake in shares of RPC, Inc. (NYSE:RES - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 62,509 shares of the oil and gas company's stock, valued at approximately $344,000.

A number of other large investors have also modified their holdings of RES. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of RPC by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,368 shares of the oil and gas company's stock worth $287,000 after acquiring an additional 1,697 shares in the last quarter. SummerHaven Investment Management LLC raised its holdings in RPC by 1.8% in the 1st 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 during the period. Bridge City Capital LLC boosted its position in RPC by 1.3% during the first quarter. Bridge City Capital LLC now owns 281,538 shares of the oil and gas company's stock worth $1,548,000 after purchasing an additional 3,593 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in RPC by 16.1% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,014 shares of the oil and gas company's stock valued at $191,000 after purchasing an additional 4,450 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of RPC by 1.1% in the first quarter. AQR Capital Management LLC now owns 544,365 shares of the oil and gas company's stock valued at $2,994,000 after buying an additional 5,914 shares in the last quarter. Institutional investors and hedge funds own 41.06% of the company's stock.

RPC Price Performance

RES traded up $0.01 on Monday, reaching $4.48. 1,092,040 shares of the company's stock were exchanged, compared to its average volume of 1,270,058. RPC, Inc. has a twelve month low of $4.10 and a twelve month high of $7.22. The stock has a market cap of $987.05 million, a PE ratio of 17.21 and a beta of 0.89. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.64 and a quick ratio of 2.16. The stock's fifty day moving average price is $4.70 and its 200-day moving average price is $4.87.

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

RPC Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Monday, August 11th were issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 3.6%. The ex-dividend date was Monday, August 11th. RPC's dividend payout ratio is presently 61.54%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Piper Sandler decreased their target price on RPC from $5.00 to $4.00 and set an "underweight" rating on the stock in a research report on Thursday, August 14th. Stifel Nicolaus reduced their price objective on shares of RPC from $6.00 to $5.00 and set a "hold" rating for the company in a research report on Wednesday, July 16th. Finally, Susquehanna dropped their target price on shares of RPC from $5.50 to $5.00 and set a "neutral" rating on the stock in a research report on Friday, July 25th. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, RPC currently has an average rating of "Reduce" and an average target price 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.