RPC, Inc. (RES) Shares Bought by Eagle Boston Investment Management Inc.
Eagle Boston Investment Management Inc. increased its stake in RPC, Inc. (NYSE:RES) by 3.6% during the second quarter, according to its most recent filing with the SEC. The firm owned 308,510 shares of the oil and gas company’s stock after buying an additional 10,607 shares during the period. Eagle Boston Investment Management Inc. owned 0.14% of RPC worth $6,234,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of RES. Flinton Capital Management LLC boosted its position in shares of RPC by 86.9% in the first quarter. Flinton Capital Management LLC now owns 7,296 shares of the oil and gas company’s stock valued at $134,000 after buying an additional 3,392 shares during the last quarter. Meadow Creek Investment Management LLC boosted its position in shares of RPC by 86.9% in the first quarter. Meadow Creek Investment Management LLC now owns 10,032 shares of the oil and gas company’s stock valued at $184,000 after buying an additional 4,664 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of RPC by 22.0% in the first quarter. Pacer Advisors Inc. now owns 10,144 shares of the oil and gas company’s stock valued at $186,000 after buying an additional 1,830 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of RPC by 40.9% in the first quarter. BNP Paribas Arbitrage SA now owns 10,503 shares of the oil and gas company’s stock valued at $192,000 after buying an additional 3,048 shares during the last quarter. Finally, Advisory Services Network LLC bought a new position in shares of RPC during the first quarter valued at approximately $206,000. 38.18% of the stock is currently owned by institutional investors and hedge funds.
RPC, Inc. (NYSE RES) opened at 19.41 on Friday. The company’s 50 day moving average is $20.04 and its 200-day moving average is $19.36. RPC, Inc. has a 1-year low of $14.18 and a 1-year high of $23.36. The firm’s market cap is $4.22 billion.
RPC (NYSE:RES) last released its quarterly earnings results on Wednesday, July 26th. The oil and gas company reported $0.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.06. The firm had revenue of $399 million for 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% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.23) earnings per share. On average, analysts predict that RPC, Inc. will post $0.81 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Thursday, August 10th will be given a $0.06 dividend. The ex-dividend date of this dividend is 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 yield of 1.24%. RPC’s payout ratio is -183.30%.
RES has been the topic of a number of recent research reports. Jefferies Group LLC set a $26.00 target price on shares of RPC and gave the stock a “buy” rating in a report on Monday. Seaport Global Securities reissued a “neutral” rating on shares of RPC in a report on Wednesday, July 26th. Cowen and Company reissued a “hold” rating and issued a $24.00 target price on shares of RPC in a report on Friday. Zacks Investment Research cut shares of RPC from a “buy” rating to a “hold” rating in a report on Tuesday, July 18th. Finally, Piper Jaffray Companies reissued a “neutral” rating and issued a $20.50 target price (up previously from $18.75) on shares of RPC in a report on Wednesday, July 12th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. RPC presently has a consensus rating of “Hold” and an average 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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