RPC, Inc. (RES) Shares Sold by NGAM Advisors L.P.
NGAM Advisors L.P. lowered its position in RPC, Inc. (NYSE:RES) by 0.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 88,102 shares of the oil and gas company’s stock after selling 480 shares during the period. NGAM Advisors L.P.’s holdings in RPC were worth $1,780,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. MARSHALL WACE ASIA Ltd acquired a new position in RPC during the first quarter worth approximately $28,788,000. Marshall Wace North America L.P. acquired a new position in RPC during the first quarter worth approximately $28,788,000. Alliancebernstein L.P. boosted its position in RPC by 21.6% in the first quarter. Alliancebernstein L.P. now owns 5,707,098 shares of the oil and gas company’s stock worth $104,497,000 after buying an additional 1,012,027 shares during the period. Investec Asset Management LTD acquired a new position in RPC during the first quarter worth approximately $14,459,000. Finally, Mitchell Group Inc. acquired a new position in RPC during the first quarter worth approximately $13,325,000. 40.24% of the stock is owned by institutional investors.
Shares of RPC, Inc. (NYSE RES) opened at 19.70 on Monday. The firm has a 50 day moving average price of $20.45 and a 200-day moving average price of $19.65. The company’s market cap is $4.28 billion. RPC, Inc. has a 52-week low of $14.18 and a 52-week high of $23.36.
RPC (NYSE:RES) last released its quarterly earnings data on Wednesday, July 26th. The oil and gas company reported $0.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.06. The firm had revenue of $399 million for the quarter, compared to the consensus estimate of $415.65 million. RPC had a negative return on equity of 1.74% and a negative net margin of 1.15%. The company’s quarterly revenue was up 179.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.23) earnings per share. Equities research analysts anticipate that RPC, Inc. will post $0.84 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Thursday, August 10th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, August 8th. This is a boost from RPC’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a dividend yield of 1.22%. RPC’s dividend payout ratio (DPR) is presently -183.30%.
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RES has been the subject of a number of research analyst reports. Jefferies Group LLC reissued a “buy” rating and set a $26.00 price target on shares of RPC in a report on Friday, June 9th. Morgan Stanley lowered their price target on RPC from $24.00 to $23.00 and set an “equal weight” rating for the company in a report on Wednesday, June 21st. Wolfe Research cut RPC from an “outperform” rating to a “market perform” rating and set a $20.00 price target for the company. in a report on Monday, April 17th. Seaport Global Securities cut RPC from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $25.00 to $20.00 in a report on Wednesday, June 21st. Finally, Zacks Investment Research cut RPC from a “buy” rating to a “hold” rating in a report on Tuesday, July 18th. Ten research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $22.91.
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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