RPC, Inc. (NYSE:RES) Shares Purchased by Gallacher Capital Management LLC

Gallacher Capital Management LLC increased its stake in RPC, Inc. (NYSE:RES) by 444.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,546 shares of the oil and gas company’s stock after purchasing an additional 51,066 shares during the period. Gallacher Capital Management LLC’s holdings in RPC were worth $455,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of RES. Glenorchy Capital Ltd acquired a new stake in shares of RPC during the fourth quarter worth $925,000. Yousif Capital Management LLC raised its stake in RPC by 7.9% in the 4th quarter. Yousif Capital Management LLC now owns 50,303 shares of the oil and gas company’s stock worth $366,000 after acquiring an additional 3,680 shares during the last quarter. Illinois Municipal Retirement Fund lifted its position in RPC by 12.4% during the 4th quarter. Illinois Municipal Retirement Fund now owns 51,799 shares of the oil and gas company’s stock worth $377,000 after acquiring an additional 5,723 shares during the period. Signaturefd LLC grew its stake in RPC by 67.3% during the 4th quarter. Signaturefd LLC now owns 4,580 shares of the oil and gas company’s stock valued at $33,000 after purchasing an additional 1,843 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of RPC by 154.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,704 shares of the oil and gas company’s stock valued at $165,000 after purchasing an additional 13,789 shares during the period. Hedge funds and other institutional investors own 41.06% of the company’s stock.

Wall Street Analysts Forecast Growth

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

RPC Stock Performance

Shares of RPC stock traded up $0.15 during trading on Friday, hitting $6.77. 2,201,415 shares of the company’s stock were exchanged, compared to its average volume of 1,667,137. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 9.67 and a beta of 1.65. The business has a 50-day simple moving average of $7.58 and a 200-day simple moving average of $7.44. RPC, Inc. has a 52-week low of $6.34 and a 52-week high of $9.41.

RPC (NYSE:RES) last released its quarterly earnings data 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). RPC had a net margin of 9.95% and a return on equity of 15.02%. The company had revenue of $377.80 million for the quarter, compared to analysts’ expectations of $393.33 million. During the same quarter in the previous year, the business posted $0.39 EPS. The business’s quarterly revenue was down 20.7% on a year-over-year basis. On average, equities analysts anticipate that RPC, Inc. will post 0.71 earnings per share for the current fiscal year.

RPC Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be issued a $0.94 dividend. The ex-dividend date is Thursday, May 9th. This is an increase from RPC’s previous quarterly dividend of $0.04. This represents a $3.76 dividend on an annualized basis and a yield of 55.54%. RPC’s payout ratio is presently 22.86%.

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.