GSA Capital Partners LLP bought a new stake in shares of RPC, Inc. (NYSE:RES) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 56,227 shares of the oil and gas company’s stock, valued at approximately $405,000.
Several other large investors have also made changes to their positions in RES. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of RPC during the 1st quarter valued at approximately $3,321,000. Dean Investment Associates LLC lifted its position in shares of RPC by 25.2% during the 1st quarter. Dean Investment Associates LLC now owns 582,640 shares of the oil and gas company’s stock valued at $6,648,000 after buying an additional 117,180 shares in the last quarter. Morgan Dempsey Capital Management LLC lifted its position in shares of RPC by 384.1% during the 1st quarter. Morgan Dempsey Capital Management LLC now owns 128,249 shares of the oil and gas company’s stock valued at $1,463,000 after buying an additional 101,758 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of RPC by 1,870.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 80,024 shares of the oil and gas company’s stock valued at $913,000 after buying an additional 75,962 shares in the last quarter. Finally, New York State Common Retirement Fund lifted its position in shares of RPC by 19.3% during the 1st quarter. New York State Common Retirement Fund now owns 430,653 shares of the oil and gas company’s stock valued at $4,914,000 after buying an additional 69,660 shares in the last quarter. Hedge funds and other institutional investors own 33.78% of the company’s stock.
RES has been the topic of a number of recent analyst reports. AltaCorp Capital reiterated an “underperform” rating on shares of RPC in a research report on Thursday, June 20th. Citigroup set a $6.00 target price on RPC and gave the company a “sell” rating in a research report on Tuesday, July 2nd. Barclays reissued a “sell” rating and issued a $5.50 price objective on shares of RPC in a research note on Sunday, July 28th. ValuEngine raised RPC from a “strong sell” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, Wells Fargo & Co reduced their price objective on RPC from $5.50 to $4.50 and set an “underperform” rating for the company in a research note on Thursday, September 12th. Nine research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $10.42.
NYSE RES opened at $6.20 on Wednesday. RPC, Inc. has a one year low of $4.88 and a one year high of $17.24. The company has a market cap of $1.21 billion, a P/E ratio of 7.56, a P/E/G ratio of 285.62 and a beta of 1.08. The business has a fifty day moving average price of $5.68 and a 200 day moving average price of $8.24. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.45 and a current ratio of 3.13.
RPC (NYSE:RES) last issued its earnings results on Wednesday, July 24th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). RPC had a return on equity of 6.37% and a net margin of 4.55%. The company had revenue of $358.50 million during the quarter, compared to analyst estimates of $362.40 million. During the same period last year, the business earned $0.28 earnings per share. The firm’s revenue was down 23.4% compared to the same quarter last year.
RPC, Inc, through its subsidiaries, provides 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 offers pressure pumping, fracturing, acidizing, 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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