Dimensional Fund Advisors LP trimmed its position in shares of RPC, Inc. (NYSE:RES) by 15.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,284,388 shares of the oil and gas company’s stock after selling 241,722 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.59% of RPC worth $25,958,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of RES. Alliancebernstein L.P. boosted its position in RPC by 58.4% during the second quarter. Alliancebernstein L.P. now owns 9,040,717 shares of the oil and gas company’s stock worth $182,713,000 after purchasing an additional 3,333,619 shares in the last quarter. Vanguard Group Inc. boosted its position in RPC by 20.4% during the second quarter. Vanguard Group Inc. now owns 6,076,306 shares of the oil and gas company’s stock worth $122,802,000 after purchasing an additional 1,028,001 shares in the last quarter. Investec Asset Management LTD boosted its position in RPC by 52.7% during the second quarter. Investec Asset Management LTD now owns 1,205,839 shares of the oil and gas company’s stock worth $24,370,000 after purchasing an additional 416,157 shares in the last quarter. Chicago Equity Partners LLC boosted its position in RPC by 41.3% during the second quarter. Chicago Equity Partners LLC now owns 1,136,435 shares of the oil and gas company’s stock worth $22,967,000 after purchasing an additional 331,890 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in RPC during the first quarter worth $5,669,000. Institutional investors own 38.08% of the company’s stock.
In related news, Director Amy Rollins Kreisler bought 5,000 shares of the stock in a transaction dated Friday, October 27th. The stock was acquired at an average price of $23.21 per share, for a total transaction of $116,050.00. Following the completion of the purchase, the director now owns 5,000 shares in the company, valued at $116,050. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 73.50% of the stock is currently owned by company insiders.
A number of analysts have commented on RES shares. Citigroup Inc. downgraded RPC from a “strong-buy” rating to a “market perform” rating in a research report on Thursday, October 26th. They noted that the move was a valuation call. Credit Suisse Group downgraded RPC from an “outperform” rating to a “neutral” rating in a research report on Friday, October 13th. They noted that the move was a valuation call. Barclays PLC initiated coverage on RPC in a research report on Tuesday, September 5th. They issued an “equal weight” rating and a $19.00 price objective on the stock. Jefferies Group LLC set a $26.00 price objective on RPC and gave the company a “buy” rating in a research report on Monday, August 28th. Finally, Deutsche Bank AG initiated coverage on RPC in a research report on Tuesday, October 10th. They issued a “hold” rating and a $25.00 price objective on the stock. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $23.97.
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Shares of RPC, Inc. (NYSE RES) opened at $24.15 on Tuesday. The company has a market capitalization of $5,362.66, a PE ratio of 63.49, a price-to-earnings-growth ratio of 1.70 and a beta of 1.16. RPC, Inc. has a 12 month low of $16.63 and a 12 month high of $26.45.
RPC (NYSE:RES) last announced its quarterly earnings results on Wednesday, October 25th. The oil and gas company reported $0.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.03). The firm had revenue of $471.00 million for the quarter, compared to analyst estimates of $474.41 million. RPC had a return on equity of 10.31% and a net margin of 6.03%. The business’s revenue was up 167.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.18) earnings per share. research analysts forecast that RPC, Inc. will post 0.81 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Friday, November 10th will be paid a $0.07 dividend. The ex-dividend date is Thursday, November 9th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.16%. This is a positive change from RPC’s previous quarterly dividend of $0.06. RPC’s dividend payout ratio (DPR) is 73.69%.
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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