Yousif Capital Management LLC Acquires 3,680 Shares of RPC, Inc. (NYSE:RES)

Yousif Capital Management LLC increased its holdings in shares of RPC, Inc. (NYSE:RES) by 7.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,303 shares of the oil and gas company’s stock after purchasing an additional 3,680 shares during the period. Yousif Capital Management LLC’s holdings in RPC were worth $366,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. Pacer Advisors Inc. lifted its holdings in shares of RPC by 274.1% during the 4th quarter. Pacer Advisors Inc. now owns 8,277,488 shares of the oil and gas company’s stock valued at $60,260,000 after purchasing an additional 6,064,627 shares in the last quarter. Gabelli Funds LLC lifted its holdings in shares of RPC by 2.1% during the 3rd quarter. Gabelli Funds LLC now owns 2,277,634 shares of the oil and gas company’s stock valued at $20,362,000 after purchasing an additional 47,634 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of RPC by 48.2% during the 3rd quarter. Invesco Ltd. now owns 1,507,687 shares of the oil and gas company’s stock valued at $13,479,000 after purchasing an additional 490,538 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of RPC by 2.1% during the 3rd quarter. Victory Capital Management Inc. now owns 1,372,170 shares of the oil and gas company’s stock valued at $12,267,000 after purchasing an additional 27,817 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in RPC by 14.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,248,101 shares of the oil and gas company’s stock valued at $11,158,000 after acquiring an additional 161,871 shares in the last quarter. Institutional investors own 41.06% of the company’s stock.

RPC Stock Performance

NYSE RES opened at $6.86 on Tuesday. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 9.79 and a beta of 1.65. The stock’s 50 day moving average price is $7.58 and its two-hundred day moving average price is $7.43. RPC, Inc. has a 52 week low of $6.34 and a 52 week high of $9.41.

RPC (NYSE:RES) last posted its earnings results on Thursday, April 25th. The oil and gas company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The business had revenue of $377.80 million for the quarter, compared to analyst estimates of $393.33 million. RPC had a return on equity of 15.02% and a net margin of 9.95%. The firm’s revenue was down 20.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.39 earnings per share. On average, equities research analysts forecast that RPC, Inc. will post 0.71 EPS for the current year.

RPC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend is Thursday, May 9th. RPC’s payout ratio is presently 22.86%.

Wall Street Analysts Forecast Growth

Separately, Susquehanna cut their target price on RPC from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Friday, April 26th.

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.