Industry News

GSA Capital Partners LLP Acquires New Holdings in RPC, Inc. (NYSE:RES)

By September 11, 2019 No Comments

GSA Capital Partners LLP purchased a new stake in shares of RPC, Inc. (NYSE:RES) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 56,227 shares of the oil and gas company’s stock, valued at approximately $405,000.

A number of other institutional investors have also modified their holdings of the stock. Stone Ridge Asset Management LLC lifted its holdings in RPC by 113.2% during the second quarter. Stone Ridge Asset Management LLC now owns 113,392 shares of the oil and gas company’s stock worth $818,000 after buying an additional 60,200 shares during the period. Swiss National Bank boosted its holdings in RPC by 2.0% during the second quarter. Swiss National Bank now owns 119,900 shares of the oil and gas company’s stock worth $864,000 after buying an additional 2,400 shares in the last quarter. Virginia Retirement Systems ET AL grew its holdings in shares of RPC by 4.2% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 44,600 shares of the oil and gas company’s stock worth $322,000 after acquiring an additional 1,800 shares during the last quarter. Strs Ohio purchased a new position in RPC in the 2nd quarter worth about $28,000. Finally, WINTON GROUP Ltd acquired a new stake in shares of RPC during the second quarter valued at approximately $342,000. Institutional investors and hedge funds own 33.79% of the company’s stock.

RES stock traded up $0.22 during trading on Tuesday, hitting $5.87. The company had a trading volume of 50,797 shares, compared to its average volume of 1,959,103. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 7.18, a PEG ratio of 68.43 and a beta of 1.08. The company has a quick ratio of 2.45, a current ratio of 3.13 and a debt-to-equity ratio of 0.03. The firm has a 50-day moving average price of $5.70 and a 200-day moving average price of $8.41. RPC, Inc. has a 12 month low of $4.88 and a 12 month high of $17.24.

RPC (NYSE:RES) last issued its quarterly earnings results on Wednesday, July 24th. The oil and gas company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). RPC had a return on equity of 6.37% and a net margin of 4.55%. The business had revenue of $358.50 million for the quarter, compared to analyst estimates of $362.40 million. During the same quarter last year, the firm posted $0.28 EPS. RPC’s revenue for the quarter was down 23.4% on a year-over-year basis. Equities analysts expect that RPC, Inc. will post 0.01 EPS for the current year.

Several research firms have commented on RES. Citigroup set a $6.00 target price on shares of RPC and gave the stock a “sell” rating in a research report on Tuesday, July 2nd. ValuEngine upgraded shares of RPC from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 1st. Gabelli cut shares of RPC from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Barclays reissued a “sell” rating and issued a $5.50 price target on shares of RPC in a report on Sunday, July 28th. Finally, AltaCorp Capital reaffirmed an “underperform” rating on shares of RPC in a report on Thursday, June 20th. Nine research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. RPC currently has a consensus rating of “Hold” and a consensus price target of $11.23.

About RPC

RPC, Inc, through its subsidiaries, provides 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 offers pressure pumping, fracturing, acidizing, 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.

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Institutional Ownership by Quarter for RPC (NYSE:RES)

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