Caz Investments LP Takes Position in Ridgepost Capital, Inc $RPC

Key Points

• Caz Investments LP acquired 3.86 million Ridgepost Capital shares worth approximately $30.3 million, representing about 3.5% of the company and 5.9% of the fund’s holdings.
• Institutional ownership stands at 48.05%, while analyst sentiment is moderately positive: Ridgepost has a consensus “Moderate Buy” rating and an average price target of $13 versus a recent price of $8.51.
• Ridgepost declared a quarterly dividend of $0.04 per share, equating to $0.16 annually and a 1.9% yield; the company’s shares have traded between $6.79 and $12.55 over the past year.

Caz Investments LP acquired a new position in shares of Ridgepost Capital, Inc (NYSE:RPC - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 3,855,757 shares of the company's stock, valued at approximately $30,345,000. Ridgepost Capital accounts for about 5.9% of Caz Investments LP's holdings, making the stock its 2nd largest position. Caz Investments LP owned approximately 3.50% of Ridgepost Capital at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. California State Teachers Retirement System bought a new stake in Ridgepost Capital during the 2nd quarter valued at $4,317,000. Guardian Wealth Management Inc. bought a new position in shares of Ridgepost Capital in the second quarter worth $2,996,000. Finally, Susquehanna International Group LLP acquired a new position in shares of Ridgepost Capital during the second quarter valued at $96,000. 48.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on RPC shares. Wall Street Zen raised shares of Ridgepost Capital from a "hold" rating to a "buy" rating in a report on Saturday. Weiss Ratings reissued a "hold (c-)" rating on shares of Ridgepost Capital in a research note on Monday, June 8th. Barclays reduced their price target on shares of Ridgepost Capital from $12.00 to $11.00 and set an "overweight" rating for the company in a research note on Monday, August 10th. Finally, Oppenheimer decreased their price objective on shares of Ridgepost Capital from $16.00 to $15.00 and set an "outperform" rating for the company in a report on Thursday, August 27th. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $13.00.

Ridgepost Capital Trading Up 0.1%

Shares of Ridgepost Capital stock opened at $8.51 on Monday. The business has a fifty day simple moving average of $8.47 and a 200-day simple moving average of $8.10. Ridgepost Capital, Inc has a fifty-two week low of $6.79 and a fifty-two week high of $12.55. The firm has a market cap of $938.14 million, a price-to-earnings ratio of 34.04 and a beta of 0.87. The company has a quick ratio of 2.71, a current ratio of 2.71 and a debt-to-equity ratio of 0.95.

Ridgepost Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Monday, August 31st will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Monday, August 31st. Ridgepost Capital's dividend payout ratio is presently 64.00%.

Ridgepost Capital Company Profile

P10 NYSE: RPC is an oilfield services company that provides specialized equipment and field services to upstream oil and gas operators. The company focuses on supplying non‑exclusive, rental and production support products and technical services that help customers complete, produce and maintain wells. Its offerings are designed to support a range of onshore operations, with emphasis on scalable, modular solutions that can be deployed across multiple basins.

Products and services typically include surface and downhole rental tools, completion and production accessories, well intervention and maintenance services, and related operational support.

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