MQS Management LLC Takes Position in RPC, Inc. $RES

MQS Management LLC acquired a new stake in RPC, Inc. (NYSE:RES) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 49,916 shares of the oil and gas company’s stock, valued at approximately $236,000.

A number of other hedge funds have also made changes to their positions in RES. Nuveen LLC purchased a new position in shares of RPC in the 1st quarter valued at about $2,299,000. American Century Companies Inc. increased its holdings in shares of RPC by 11.5% in the 1st quarter. American Century Companies Inc. now owns 3,388,807 shares of the oil and gas company’s stock valued at $18,638,000 after acquiring an additional 349,226 shares during the last quarter. Range Financial Group LLC purchased a new position in shares of RPC in the 2nd quarter valued at about $1,309,000. Jacobs Levy Equity Management Inc. purchased a new position in shares of RPC in the 1st quarter valued at about $1,432,000. Finally, Denali Advisors LLC purchased a new position in shares of RPC in the 1st quarter valued at about $1,386,000. Hedge funds and other institutional investors own 41.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RES. Weiss Ratings reiterated a “sell (d+)” rating on shares of RPC in a report on Wednesday, October 8th. Stifel Nicolaus decreased their target price on RPC from $6.00 to $5.00 and set a “hold” rating for the company in a research report on Wednesday, July 16th. Susquehanna decreased their target price on RPC from $5.50 to $5.00 and set a “neutral” rating for the company in a research report on Friday, July 25th. Finally, Piper Sandler decreased their target price on RPC from $5.00 to $4.00 and set an “underweight” rating for the company in a research report on Thursday, August 14th. Three research analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, RPC currently has an average rating of “Reduce” and a consensus price target of $4.69.

RPC Stock Performance

Shares of RES stock opened at $4.80 on Tuesday. The company has a market cap of $1.06 billion, a price-to-earnings ratio of 18.44 and a beta of 0.83. The stock has a 50 day simple moving average of $4.62 and a 200-day simple moving average of $4.74. RPC, Inc. has a 12-month low of $4.10 and a 12-month high of $7.17. 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 (NYSE:RES) last issued its earnings results on Wednesday, November 16th. The oil and gas company reported $0.02 earnings per share (EPS) for the quarter. RPC had a return on equity of 5.65% and a net margin of 3.77%.The business had revenue of $225.31 million during the quarter. On average, equities analysts forecast that RPC, Inc. will post 0.31 EPS for the current year.

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.