RPC, Inc. (RES) Position Increased by Rhumbline Advisers
Rhumbline Advisers lifted its position in RPC, Inc. (NYSE:RES) by 9.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 93,851 shares of the oil and gas company’s stock after buying an additional 7,973 shares during the period. Rhumbline Advisers’ holdings in RPC were worth $1,897,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RES. MARSHALL WACE ASIA Ltd bought a new stake in shares of RPC in the 1st quarter valued at $28,788,000. Marshall Wace North America L.P. bought a new position in RPC during the 1st quarter worth about $28,788,000. Alliancebernstein L.P. increased its holdings in RPC by 21.6% during the 1st quarter. Alliancebernstein L.P. now owns 5,707,098 shares of the oil and gas company’s stock worth $104,497,000 after purchasing an additional 1,012,027 shares in the last quarter. Investec Asset Management LTD bought a new position in RPC during the 1st quarter worth about $14,459,000. Finally, Mitchell Group Inc. bought a new position in RPC during the 1st quarter worth about $13,325,000. Institutional investors and hedge funds own 38.18% of the company’s stock.
A number of equities analysts have issued reports on the company. Barclays PLC assumed coverage on RPC in a report on Tuesday, September 5th. They set an “equal weight” rating and a $19.00 target price for the company. Cowen and Company reiterated a “hold” rating and set a $24.00 target price on shares of RPC in a report on Friday, September 1st. Jefferies Group LLC set a $26.00 target price on RPC and gave the stock a “buy” rating in a report on Monday, August 28th. Seaport Global Securities reiterated a “neutral” rating on shares of RPC in a report on Wednesday, July 26th. Finally, Zacks Investment Research cut RPC from a “buy” rating to a “hold” rating in a report on Tuesday, July 18th. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. RPC has an average rating of “Hold” and an average price target of $22.69.
Shares of RPC, Inc. (NYSE RES) opened at 22.69 on Friday. The company has a 50-day moving average of $20.06 and a 200 day moving average of $19.40. The firm’s market capitalization is $4.93 billion. RPC, Inc. has a 52 week low of $14.68 and a 52 week high of $23.36.
RPC (NYSE:RES) last issued its quarterly earnings data on Wednesday, July 26th. The oil and gas company reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 business had revenue of $399.00 million during the quarter, compared to the consensus estimate of $415.65 million. During the same period in the prior year, the firm posted ($0.23) EPS. The firm’s quarterly revenue was up 179.0% compared to the same quarter last year. Equities research analysts anticipate that RPC, Inc. will post $0.81 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Thursday, August 10th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.06%. This is an increase from RPC’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Tuesday, August 8th. RPC’s dividend payout ratio is presently -183.30%.
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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