Public Employees Retirement System of Ohio Has $415,000 Stock Position in RPC, Inc. $RES

Key Points

• The Public Employees Retirement System of Ohio increased its stake in RPC, Inc. by 166.1% during the second quarter, now owning 87,682 shares worth $415,000.
• RPC reported earnings of $0.08 per share for the last quarter, missing estimates by $0.01, with revenue of $420.81 million.
• A quarterly dividend of $0.04 per share was declared, yielding an annualized rate of 3.3% with a payout ratio of 61.54%.

Public Employees Retirement System of Ohio grew its holdings in RPC, Inc. (NYSE:RES - Free Report) by 166.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 87,682 shares of the oil and gas company's stock after purchasing an additional 54,737 shares during the period. Public Employees Retirement System of Ohio's holdings in RPC were worth $415,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Two Sigma Advisers LP acquired a new stake in RPC in the 4th quarter valued at $70,000. GAMMA Investing LLC grew its holdings in shares of RPC by 265.4% in the 1st quarter. GAMMA Investing LLC now owns 36,856 shares of the oil and gas company's stock valued at $203,000 after acquiring an additional 26,769 shares in the last quarter. Wedge Capital Management L L P NC increased its position in shares of RPC by 9.6% in the first quarter. Wedge Capital Management L L P NC now owns 178,369 shares of the oil and gas company's stock valued at $981,000 after acquiring an additional 15,686 shares during the last quarter. Bridge City Capital LLC raised its holdings 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 acquiring an additional 3,593 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in RPC by 144.2% during the first quarter. SG Americas Securities LLC now owns 101,940 shares of the oil and gas company's stock worth $561,000 after acquiring an additional 60,197 shares in the last quarter. Institutional investors and hedge funds own 41.06% of the company's stock.

RPC Price Performance

Shares of NYSE RES opened at $4.79 on Monday. The firm has a market cap of $1.06 billion, a P/E ratio of 18.42 and a beta of 0.83. The business's 50 day moving average is $4.64 and its 200-day moving average is $4.81. 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 1-year low of $4.10 and a 1-year high of $7.22.

RPC (NYSE:RES - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.01). The firm had revenue of $420.81 million during 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 for the quarter was up 15.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.15 earnings per share. Equities research analysts predict that RPC, Inc. will post 0.31 earnings per share for the current year.

RPC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Monday, August 11th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend was Monday, August 11th. RPC's dividend payout ratio (DPR) is currently 61.54%.

Wall Street Analysts Forecast Growth

RES has been the subject of a number of analyst reports. Piper Sandler decreased their price target on RPC from $5.00 to $4.00 and set an "underweight" rating for the company in a research note on Thursday, August 14th. Susquehanna lowered their target price on shares of RPC from $5.50 to $5.00 and set a "neutral" rating on the stock in a report on Friday, July 25th. Stifel Nicolaus dropped their price target on shares of RPC from $6.00 to $5.00 and set a "hold" rating on the stock in a research report on Wednesday, July 16th. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of RPC in a research report on Saturday, September 27th. 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, the stock currently has a consensus rating of "Reduce" and a consensus target price of $4.69.

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.

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