Earnest Partners LLC reduced its stake in shares of RPC, Inc. (NYSE:RES) by 4.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 123,388 shares of the oil and gas company’s stock after selling 6,298 shares during the period. Earnest Partners LLC owned 0.06% of RPC worth $1,798,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the company. State Board of Administration of Florida Retirement System boosted its holdings in shares of RPC by 3.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 84,958 shares of the oil and gas company’s stock worth $1,532,000 after purchasing an additional 2,840 shares during the last quarter. Aperio Group LLC boosted its holdings in shares of RPC by 4.2% during the 1st quarter. Aperio Group LLC now owns 79,933 shares of the oil and gas company’s stock worth $1,441,000 after purchasing an additional 3,247 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings 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 purchasing an additional 3,885 shares during the last quarter. NumerixS Investment Technologies Inc boosted its holdings 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 purchasing an additional 5,461 shares during the last quarter. Finally, FDx Advisors Inc. boosted its holdings in shares of RPC by 51.4% during the 1st quarter. FDx Advisors Inc. now owns 17,946 shares of the oil and gas company’s stock worth $324,000 after purchasing an additional 6,089 shares during the last quarter. Institutional investors and hedge funds own 31.77% of the company’s stock.
RES opened at $13.29 on Friday. RPC, Inc. has a one year low of $12.96 and a one year high of $27.07. The company has a market capitalization of $2.86 billion, a P/E ratio of 13.60, a price-to-earnings-growth ratio of 0.78 and a beta of 0.89.
RPC (NYSE:RES) last released its quarterly earnings data on Wednesday, July 25th. The oil and gas company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.01). RPC had a net margin of 12.60% and a return on equity of 23.23%. The business had revenue of $467.93 million during the quarter, compared to analyst estimates of $488.40 million. During the same quarter in the prior year, the company posted $0.20 earnings per share. The company’s revenue was up 17.3% on a year-over-year basis. equities analysts anticipate that RPC, Inc. will post 0.95 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 10th. Shareholders of record on Friday, August 10th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date of this dividend is Thursday, August 9th. RPC’s dividend payout ratio (DPR) is 60.61%.
A number of research analysts recently commented on RES shares. Credit Suisse Group decreased their price objective on RPC from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, July 26th. Zacks Investment Research cut RPC from a “hold” rating to a “sell” rating in a report on Tuesday, July 31st. ValuEngine cut RPC from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 5th. Jefferies Financial Group reiterated a “hold” rating and issued a $15.00 price objective on shares of RPC in a report on Thursday, July 26th. Finally, SunTrust Banks cut RPC from a “buy” rating to a “hold” rating and decreased their price objective for the company from $25.00 to $16.00 in a report on Thursday, August 30th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $20.33.
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.
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