Denali Advisors LLC Invests $1.39 Million in RPC, Inc. (NYSE:RES)

Denali Advisors LLC purchased a new position in RPC, Inc. (NYSE:RES - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 251,925 shares of the oil and gas company's stock, valued at approximately $1,386,000. Denali Advisors LLC owned approximately 0.11% of RPC at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of RES. Charles Schwab Investment Management Inc. lifted its holdings in shares of RPC by 11.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,689,779 shares of the oil and gas company's stock valued at $10,037,000 after buying an additional 180,301 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of RPC during the 4th quarter valued at about $64,000. American Century Companies Inc. lifted its holdings in shares of RPC by 11.2% during the 4th quarter. American Century Companies Inc. now owns 3,039,581 shares of the oil and gas company's stock valued at $18,055,000 after buying an additional 306,976 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of RPC by 37.4% during the 4th quarter. Sei Investments Co. now owns 56,304 shares of the oil and gas company's stock valued at $334,000 after buying an additional 15,340 shares during the last quarter. Finally, AXQ Capital LP acquired a new stake in shares of RPC during the 4th quarter valued at about $183,000. Hedge funds and other institutional investors own 41.06% of the company's stock.

RPC Stock Performance

RPC stock traded up $0.13 on Tuesday, reaching $4.80. The company's stock had a trading volume of 693,018 shares, compared to its average volume of 1,696,977. RPC, Inc. has a twelve month low of $4.10 and a twelve month high of $7.54. The company has a market cap of $1.06 billion, a price-to-earnings ratio of 13.35 and a beta of 0.85. The business's fifty day moving average price is $4.85 and its 200 day moving average price is $5.34.

RPC (NYSE:RES - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.01). The business had revenue of $332.88 million during the quarter, compared to analyst estimates of $326.72 million. RPC had a net margin of 5.55% and a return on equity of 7.08%. The business's quarterly revenue was down 11.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.13 earnings per share. As a group, equities analysts forecast that RPC, Inc. will post 0.31 earnings per share for the current year.

RPC Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Friday, May 9th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $0.16 annualized dividend and a dividend yield of 3.34%. RPC's payout ratio is 44.44%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RES. Piper Sandler began coverage on RPC in a research note on Monday, July 14th. They issued an "underweight" rating and a $5.00 price objective on the stock. Susquehanna dropped their price target on RPC from $6.00 to $5.50 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Citigroup upgraded RPC from a "sell" rating to a "neutral" rating and lowered their price objective for the company from $5.50 to $4.75 in a research report on Tuesday, April 8th. Finally, Stifel Nicolaus lowered their price objective on RPC from $6.00 to $5.00 and set a "hold" rating on the stock in a research report on Wednesday, July 16th.

About RPC

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.