Scout Investments Inc. lessened its position in shares of RPC, Inc. (NYSE:RES) by 9.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 587,394 shares of the oil and gas company’s stock after selling 59,690 shares during the period. Scout Investments Inc. owned approximately 0.27% of RPC worth $11,871,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently modified their holdings of the company. Pacer Advisors Inc. raised its stake in shares of RPC by 12.0% during the second quarter. Pacer Advisors Inc. now owns 11,360 shares of the oil and gas company’s stock valued at $230,000 after acquiring an additional 1,216 shares during the last quarter. Sei Investments Co. increased its position in shares of RPC by 5.0% during the first quarter. Sei Investments Co. now owns 32,451 shares of the oil and gas company’s stock worth $594,000 after buying an additional 1,535 shares during the period. Virginia Retirement Systems ET AL grew its holdings in RPC by 8.3% in the first quarter. Virginia Retirement Systems ET AL now owns 20,471 shares of the oil and gas company’s stock worth $375,000 after purchasing an additional 1,571 shares during the period. Alpha Windward LLC grew its holdings in RPC by 7.5% in the second quarter. Alpha Windward LLC now owns 24,637 shares of the oil and gas company’s stock worth $498,000 after purchasing an additional 1,717 shares during the period. Finally, AlphaOne Investment Services LLC grew its holdings in RPC by 0.9% in the first quarter. AlphaOne Investment Services LLC now owns 189,247 shares of the oil and gas company’s stock worth $3,465,000 after purchasing an additional 1,726 shares during the period. 38.18% of the stock is owned by institutional investors.
Shares of RPC, Inc. (RES) traded up 1.93% during midday trading on Friday, hitting $22.69. 3,547,880 shares of the stock were exchanged. The firm’s market cap is $4.93 billion. The firm’s 50-day moving average is $20.06 and its 200 day moving average is $19.40. RPC, Inc. has a 52-week low of $14.68 and a 52-week high of $23.36.
RPC (NYSE:RES) last posted its earnings results on Wednesday, July 26th. The oil and gas company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. RPC had a negative net margin of 1.15% and a negative return on equity of 1.74%. The firm had revenue of $399.00 million during the quarter, compared to analyst estimates of $415.65 million. During the same period last year, the firm posted ($0.23) earnings per share. RPC’s revenue for the quarter was up 179.0% compared to the same quarter last year. On average, analysts forecast that RPC, Inc. will post $0.81 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Thursday, August 10th were issued a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, August 8th. This is a positive change from RPC’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.06%. RPC’s dividend payout ratio (DPR) is -183.30%.
A number of research analysts have recently issued reports on the stock. Barclays PLC assumed coverage on shares of RPC in a report on Tuesday, September 5th. They set an “equal weight” rating and a $19.00 price objective for the company. Cowen and Company reaffirmed a “hold” rating and issued a $24.00 price objective on shares of RPC in a research report on Friday, September 1st. Jefferies Group LLC set a $26.00 price objective on shares of RPC and gave the company a “buy” rating in a research note on Monday, August 28th. Seaport Global Securities reaffirmed a “neutral” rating on shares of RPC in a research note on Wednesday, July 26th. Finally, Zacks Investment Research cut shares of RPC from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. RPC currently has a consensus rating of “Hold” and a consensus target price of $22.69.
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RPC Company Profile
RPC, Inc (RPC) is a holding company for several oilfield services companies. The Company provides a range of specialized oilfield services and equipment primarily to independent oil and gas companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the southwest, mid-continent, Gulf of Mexico, Rocky Mountain and Appalachian regions, and in selected international markets.
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