Louisiana State Employees Retirement System Invests $310,000 in RPC, Inc. (NYSE:RES)

Louisiana State Employees Retirement System bought a new stake in RPC, Inc. (NYSE:RES) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 42,600 shares of the oil and gas company’s stock, valued at approximately $310,000.

Several other hedge funds have also bought and sold shares of the stock. Pacer Advisors Inc. raised its position 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 buying an additional 6,064,627 shares in the last quarter. Gabelli Funds LLC raised its position in RPC by 2.1% during the third 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 stake in RPC by 48.2% during the third quarter. Invesco Ltd. now owns 1,507,687 shares of the oil and gas company’s stock worth $13,479,000 after purchasing an additional 490,538 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of RPC by 2.1% in the 3rd quarter. Victory Capital Management Inc. now owns 1,372,170 shares of the oil and gas company’s stock worth $12,267,000 after purchasing an additional 27,817 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of RPC by 14.9% during 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 purchasing an additional 161,871 shares during the last quarter. 41.06% of the stock is currently owned by institutional investors.

RPC Stock Down 2.2 %

RPC stock opened at $6.55 on Thursday. The firm has a fifty day simple moving average of $7.62 and a two-hundred day simple moving average of $7.48. RPC, Inc. has a twelve month low of $6.34 and a twelve month high of $9.41. The company has a market capitalization of $1.40 billion, a PE ratio of 9.35 and a beta of 1.60.

RPC (NYSE:RES) last released 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 company had revenue of $377.80 million during the quarter, compared to the consensus estimate of $393.33 million. RPC had a net margin of 9.95% and a return on equity of 15.02%. The company’s revenue was down 20.7% on a year-over-year basis. During the same period last year, the firm posted $0.39 EPS. As a group, equities analysts expect that RPC, Inc. will post 0.71 earnings per share for the current fiscal year.

RPC Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 57.45%. The ex-dividend date is Thursday, May 9th. This is a positive change from RPC’s previous quarterly dividend of $0.04. RPC’s dividend payout ratio is 22.86%.

Analyst Ratings Changes

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

RPC 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.