Schwab Charles Investment Management Inc. Increases Position in RPC, Inc. (RES)

Schwab Charles Investment Management Inc. boosted its stake in RPC, Inc. (NYSE:RES) by 11.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 340,267 shares of the oil and gas company’s stock after buying an additional 34,317 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.16% of RPC worth $6,877,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in RES. Pacer Advisors Inc. grew its position in shares of RPC by 22.0% during the 1st quarter. Pacer Advisors Inc. now owns 10,144 shares of the oil and gas company’s stock worth $186,000 after purchasing an additional 1,830 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in shares of RPC by 40.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 10,503 shares of the oil and gas company’s stock worth $192,000 after purchasing an additional 3,048 shares in the last quarter. Bbva Compass Bancshares Inc. acquired a new position in shares of RPC during the 2nd quarter worth approximately $219,000. Legal & General Group Plc grew its position in shares of RPC by 110.0% during the 1st quarter. Legal & General Group Plc now owns 24,330 shares of the oil and gas company’s stock worth $445,000 after purchasing an additional 12,747 shares in the last quarter. Finally, Alpha Windward LLC grew its position in shares of RPC by 7.5% during the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 38.17% of the company’s stock.

Shares of RPC, Inc. (NYSE RES) opened at 23.09 on Monday. RPC, Inc. has a 52-week low of $16.48 and a 52-week high of $25.00. The company’s 50 day moving average is $21.62 and its 200 day moving average is $19.91. The firm’s market cap is $5.02 billion.

RPC (NYSE:RES) last issued its quarterly earnings data on Wednesday, July 26th. The oil and gas company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.14 by $0.06. The company had revenue of $399.00 million during the quarter, compared to analysts’ expectations of $415.65 million. RPC had a negative net margin of 1.15% and a negative return on equity of 1.74%. RPC’s revenue for the quarter was up 179.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.23) earnings per share. Analysts anticipate that RPC, Inc. will post $0.82 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Thursday, August 10th were paid a dividend of $0.06 per share. The ex-dividend date was Tuesday, August 8th. This represents a $0.24 annualized dividend and a yield of 1.04%. This is a boost from RPC’s previous quarterly dividend of $0.05. RPC’s payout ratio is currently -183.30%.

COPYRIGHT VIOLATION WARNING: “Schwab Charles Investment Management Inc. Increases Position in RPC, Inc. (RES)” was first posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this article on another site, it was copied illegally and reposted in violation of United States & international trademark and copyright law. The correct version of this article can be read at https://ledgergazette.com/2017/10/09/schwab-charles-investment-management-inc-increases-position-in-rpc-inc-res.html.

A number of research analysts have issued reports on the stock. Jefferies Group LLC lowered shares of RPC from a “buy” rating to a “hold” rating and set a $26.00 target price on the stock. in a research report on Thursday. Citigroup Inc. increased their target price on shares of RPC from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday. Cowen and Company set a $24.00 target price on shares of RPC and gave the stock a “hold” rating in a research report on Friday. Seaport Global Securities restated a “neutral” rating on shares of RPC in a research report on Wednesday, July 26th. Finally, Zacks Investment Research lowered shares of RPC from a “buy” rating to a “hold” rating in a research report on Tuesday, July 18th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company&

Several other large investors have also made changes to their positions in RES. Pacer Advisors Inc. grew its position in shares of RPC by 22.0% during the 1st quarter. Pacer Advisors Inc. now owns 10,144 shares of the oil and gas company’s stock worth $186,000 after purchasing an additional 1,830 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in shares of RPC by 40.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 10,503 shares of the oil and gas company’s stock worth $192,000 after purchasing an additional 3,048 shares in the last quarter. Bbva Compass Bancshares Inc. acquired a new position in shares of RPC during the 2nd quarter worth approximately $219,000. Legal & General Group Plc grew its position in shares of RPC by 110.0% during the 1st quarter. Legal & General Group Plc now owns 24,330 shares of the oil and gas company’s stock worth $445,000 after purchasing an additional 12,747 shares in the last quarter. Finally, Alpha Windward LLC grew its position in shares of RPC by 7.5% during the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 38.17% of the company’s stock.

Shares of RPC, Inc. (NYSE RES) opened at 23.09 on Monday. RPC, Inc. has a 52-week low of $16.48 and a 52-week high of $25.00. The company’s 50 day moving average is $21.62 and its 200 day moving average is $19.91. The firm’s market cap is $5.02 billion.

RPC (NYSE:RES) last issued its quarterly earnings data on Wednesday, July 26th. The oil and gas company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.14 by $0.06. The company had revenue of $399.00 million during the quarter, compared to analysts’ expectations of $415.65 million. RPC had a negative net margin of 1.15% and a negative return on equity of 1.74%. RPC’s revenue for the quarter was up 179.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.23) earnings per share. Analysts anticipate that RPC, Inc. will post $0.82 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Investors of record on Thursday, August 10th were paid a dividend of $0.06 per share. The ex-dividend date was Tuesday, August 8th. This represents a $0.24 annualized dividend and a yield of 1.04%. This is a boost from RPC’s previous quarterly dividend of $0.05. RPC’s payout ratio is currently -183.30%.

COPYRIGHT VIOLATION WARNING: “Schwab Charles Investment Management Inc. Increases Position in RPC, Inc. (RES)” was first posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this article on another site, it was copied illegally and reposted in violation of United States & international trademark and copyright law. The correct version of this article can be read at https://ledgergazette.com/2017/10/09/schwab-charles-investment-management-inc-increases-position-in-rpc-inc-res.html.

A number of research analysts have issued reports on the stock. Jefferies Group LLC lowered shares of RPC from a “buy” rating to a “hold” rating and set a $26.00 target price on the stock. in a research report on Thursday. Citigroup Inc. increased their target price on shares of RPC from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday. Cowen and Company set a $24.00 target price on shares of RPC and gave the stock a “hold” rating in a research report on Friday. Seaport Global Securities restated a “neutral” rating on shares of RPC in a research report on Wednesday, July 26th. Finally, Zacks Investment Research lowered shares of RPC from a “buy” rating to a “hold” rating in a research report on Tuesday, July 18th. Twelve analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $23.26.

RPC 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.

Want to see what other hedge funds are holding RES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RPC, Inc. (NYSE:RES).

Institutional Ownership by Quarter for RPC (NYSE:RES)

Receive News & Ratings for RPC Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RPC Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply