Empowered Funds LLC Takes $6.47 Million Position in RPC, Inc. $RES

Empowered Funds LLC acquired a new position in shares of RPC, Inc. (NYSE:RES) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,109,612 shares of the oil and gas company’s stock, valued at approximately $6,469,000.

A number of other large investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC grew its holdings in RPC by 220.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,533 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 4,495 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of RPC by 243.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,681 shares of the oil and gas company’s stock valued at $41,000 after purchasing an additional 6,153 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of RPC in the 4th quarter valued at $48,000. State of Wyoming purchased a new stake in shares of RPC during the 2nd quarter worth $54,000. Finally, CWM LLC lifted its position in shares of RPC by 88.2% during the 4th quarter. CWM LLC now owns 9,316 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 4,365 shares during the last quarter. 41.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on RES. Susquehanna dropped their target price on RPC from $7.50 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, July 8th. Weiss Ratings downgraded RPC from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, August 14th. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, RPC currently has a consensus rating of “Reduce” and a consensus target price of $6.00.

RPC Stock Up 0.2%

Shares of NYSE RES opened at $6.41 on Monday. The stock has a market cap of $1.42 billion, a PE ratio of 71.22 and a beta of 0.67. The company has a quick ratio of 2.76, a current ratio of 3.34 and a debt-to-equity ratio of 0.02. RPC, Inc. has a 52-week low of $4.18 and a 52-week high of $8.16. The business has a 50-day moving average price of $5.92 and a 200 day moving average price of $6.47.

RPC (NYSE:RES) last released its quarterly earnings results on Thursday, July 30th. The oil and gas company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.04. The firm had revenue of $460.87 million for the quarter, compared to the consensus estimate of $463.48 million. RPC had a return on equity of 4.82% and a net margin of 1.28%.The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.08 EPS. Equities research analysts forecast that RPC, Inc. will post 0.26 earnings per share for the current year.

RPC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Monday, August 10th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, August 10th. RPC’s dividend payout ratio is presently 177.78%.

RPC Company Profile

RPC, Inc (NYSE: RES) provides essential equipment and services to companies engaged in the exploration, production and maintenance of oil and natural gas wells. The firm operates as an equity interest holding company, partnering with a network of independent service businesses to deliver a comprehensive suite of offerings for well completion and production operations.

Through its affiliated service companies, RPC offers pressure pumping and fracturing services, coiled tubing and nitrogen pumping, downhole tools and telemetry solutions, well intervention and workover services, along with rental tools and supply-chain logistics.