Strategic Global Advisors LLC lessened its holdings in shares of RPC, Inc. (NYSE:RES) by 17.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 46,293 shares of the oil and gas company’s stock after selling 9,960 shares during the quarter. Strategic Global Advisors LLC’s holdings in RPC were worth $936,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. Alliancebernstein L.P. increased its position in shares of RPC by 58.4% during the 2nd quarter. Alliancebernstein L.P. now owns 9,040,717 shares of the oil and gas company’s stock valued at $182,713,000 after purchasing an additional 3,333,619 shares during the last quarter. Vanguard Group Inc. increased its position in shares of RPC by 15.4% during the 1st quarter. Vanguard Group Inc. now owns 5,048,305 shares of the oil and gas company’s stock valued at $92,434,000 after purchasing an additional 672,810 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of RPC by 0.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,167,567 shares of the oil and gas company’s stock valued at $43,807,000 after purchasing an additional 16,785 shares during the last quarter. MARSHALL WACE ASIA Ltd bought a new position in shares of RPC during the 1st quarter valued at approximately $28,788,000. Finally, Marshall Wace North America L.P. purchased a new stake in shares of RPC in the 1st quarter worth $28,788,000. 38.17% of the stock is currently owned by institutional investors and hedge funds.
Shares of RPC, Inc. (NYSE RES) traded up 1.41% during trading on Friday, reaching $23.74. The company’s stock had a trading volume of 1,546,064 shares. The company has a 50 day moving average price of $20.15 and a 200 day moving average price of $19.42. The firm’s market capitalization is $5.16 billion. RPC, Inc. has a 52 week low of $15.01 and a 52 week high of $23.77.
RPC (NYSE:RES) last issued its earnings results on Wednesday, July 26th. The oil and gas company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. The company had revenue of $399.00 million during the quarter, compared to analyst estimates of $415.65 million. RPC had a negative net margin of 1.15% and a negative return on equity of 1.74%. The company’s revenue for the quarter was up 179.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.23) EPS. On average, equities research analysts expect that RPC, Inc. will post $0.83 EPS for the current fiscal year.
The company 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. This represents a $0.24 annualized dividend and a yield of 1.01%. The ex-dividend date was Tuesday, August 8th. This is an increase from RPC’s previous quarterly dividend of $0.05. RPC’s dividend payout ratio (DPR) is -183.30%.
Several research analysts have recently commented on the company. Seaport Global Securities reissued a “neutral” rating on shares of RPC in a research report on Wednesday, July 26th. Jefferies Group LLC reissued a “buy” rating and issued a $26.00 price target on shares of RPC in a research report on Friday, July 21st. Cowen and Company upped their target price on RPC from $20.00 to $24.00 and gave the company a “market perform” rating in a research report on Thursday, July 27th. Zacks Investment Research lowered RPC from a “buy” rating to a “hold” rating in a research report on Tuesday, July 18th. Finally, Morgan Stanley reduced their target price on RPC from $24.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Wednesday, June 21st. Eleven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. RPC presently has a consensus rating of “Hold” and a consensus target price of $22.69.
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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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