Gamco Investors INC. ET AL lifted its holdings in shares of RPC, Inc. (NYSE:RES) by 4.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,446,742 shares of the oil and gas company’s stock after buying an additional 94,891 shares during the period. Gamco Investors INC. ET AL’s holdings in RPC were worth $35,649,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. NumerixS Investment Technologies Inc raised its stake in shares of RPC by 101.1% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 10,861 shares of the oil and gas company’s stock worth $159,000 after buying an additional 5,461 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of RPC by 73.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 9,164 shares of the oil and gas company’s stock worth $166,000 after buying an additional 3,885 shares during the period. Quantitative Systematic Strategies LLC acquired a new position in shares of RPC during the 2nd quarter worth approximately $169,000. Brinker Capital Inc. acquired a new position in shares of RPC during the 1st quarter worth approximately $188,000. Finally, Pitcairn Co. acquired a new position in shares of RPC during the 1st quarter worth approximately $205,000. 31.77% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently weighed in on RES shares. Credit Suisse Group reduced their target price on RPC from $17.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, July 26th. Zacks Investment Research downgraded RPC from a “hold” rating to a “sell” rating in a research note on Tuesday, July 31st. ValuEngine downgraded RPC from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 5th. Jefferies Financial Group reissued a “hold” rating and issued a $15.00 price objective on shares of RPC in a research note on Thursday, July 26th. Finally, B. Riley set a $16.00 price objective on RPC and gave the company a “hold” rating in a research note on Thursday, July 26th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $20.33.

Shares of RES opened at $13.41 on Friday. RPC, Inc. has a 52-week low of $12.98 and a 52-week high of $27.07. The firm has a market capitalization of $3.14 billion, a price-to-earnings ratio of 20.32, a P/E/G ratio of 0.81 and a beta of 0.90.

RPC (NYSE:RES) last issued its earnings results on Wednesday, July 25th. The oil and gas company reported $0.28 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). RPC had a return on equity of 23.23% and a net margin of 12.60%. The company had revenue of $467.93 million during the quarter, compared to analyst estimates of $488.40 million. During the same period last year, the business earned $0.20 earnings per share. The firm’s revenue was up 17.3% compared to the same quarter last year. sell-side analysts anticipate that RPC, Inc. will post 1 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Friday, August 10th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Thursday, August 9th. RPC’s dividend payout ratio (DPR) is presently 60.61%.

RPC Company Profile

RPC, Inc provides a range of oilfield services and equipment for the oil and gas companies involved in the exploration, production, and development of oil and gas properties. The company operates through Technical Services and Support Services segments. The Technical Services offers pressure pumping, fracturing, acidizing, downhole tools, coiled tubing, snubbing, nitrogen, well control, wireline, pump down, and fishing services that are used in the completion, production, and maintenance of oil and gas wells.

Further Reading: Technical Analysis of Stocks and What It Means

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Institutional Ownership by Quarter for RPC (NYSE:RES)

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