Gallacher Capital Management LLC Increases Stock Position in RPC, Inc. (NYSE:RES)

Gallacher Capital Management LLC raised its holdings in shares of RPC, Inc. (NYSE:RES) by 66.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 32,195 shares of the oil and gas company’s stock after purchasing an additional 12,820 shares during the period. Gallacher Capital Management LLC’s holdings in RPC were worth $201,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of RES. Charles Schwab Investment Management Inc. raised its position in RPC by 12.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,401,619 shares of the oil and gas company’s stock worth $10,204,000 after buying an additional 153,518 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of RPC by 15.2% during the fourth quarter. BNP Paribas Financial Markets now owns 81,425 shares of the oil and gas company’s stock valued at $593,000 after purchasing an additional 10,737 shares during the last quarter. Jump Financial LLC bought a new position in RPC during the fourth quarter valued at approximately $996,000. Dimensional Fund Advisors LP lifted its position in RPC by 7.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,684,052 shares of the oil and gas company’s stock valued at $63,221,000 after purchasing an additional 579,638 shares during the period. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in RPC in the fourth quarter worth approximately $85,000. Institutional investors own 41.06% of the company’s stock.

Wall Street Analysts Forecast Growth

RES has been the subject of a number of research reports. Stifel Nicolaus decreased their target price on shares of RPC from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Tuesday, July 16th. Citigroup reduced their price objective on RPC from $6.75 to $5.25 and set a “sell” rating for the company in a research report on Wednesday, July 10th. Finally, Susquehanna lowered their target price on RPC from $7.00 to $6.50 and set a “neutral” rating on the stock in a report on Thursday, July 11th.

RPC Trading Up 0.3 %

Shares of RES stock opened at $5.99 on Tuesday. RPC, Inc. has a 12 month low of $5.66 and a 12 month high of $9.41. The stock has a market cap of $1.28 billion, a P/E ratio of 8.55 and a beta of 1.56. The company has a 50 day simple moving average of $6.32 and a two-hundred day simple moving average of $6.84.

RPC (NYSE:RES) last posted its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.13 by $0.02. The firm had revenue of $364.20 million during the quarter, compared to analyst estimates of $381.18 million. RPC had a return on equity of 11.52% and a net margin of 8.08%. RPC’s revenue was down 12.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.30 EPS. As a group, equities analysts forecast that RPC, Inc. will post 0.56 earnings per share for the current year.

RPC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend is Friday, August 9th. RPC’s dividend payout ratio (DPR) is currently 22.86%.

RPC Company Profile

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.