Dynamic Technology Lab Private Ltd decreased its stake in RPC, Inc. (NYSE:RES) by 47.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,745 shares of the oil and gas company’s stock after selling 14,188 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in RPC were worth $288,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Scout Investments Inc. raised its position in RPC by 15.1% in the third quarter. Scout Investments Inc. now owns 1,449,265 shares of the oil and gas company’s stock valued at $24,348,000 after buying an additional 189,991 shares during the last quarter. Ashburton Jersey Ltd bought a new stake in shares of RPC during the third quarter worth about $1,630,000. Russell Investments Group Ltd. bought a new stake in shares of RPC during the fourth quarter worth about $1,536,000. State Street Corp raised its stake in shares of RPC by 5.4% in the fourth quarter. State Street Corp now owns 1,272,632 shares of the oil and gas company’s stock worth $25,211,000 after buying an additional 64,684 shares in the last quarter. Finally, Federated Investors Inc. PA raised its stake in shares of RPC by 52.1% in the fourth quarter. Federated Investors Inc. PA now owns 23,005 shares of the oil and gas company’s stock worth $456,000 after buying an additional 7,881 shares in the last quarter. 39.92% of the stock is owned by institutional investors.
Shares of RPC, Inc. (RES) traded down 4.42% on Tuesday, hitting $20.09. The stock had a trading volume of 760,234 shares. RPC, Inc. has a 12 month low of $13.49 and a 12 month high of $23.36. The firm has a 50 day moving average of $19.17 and a 200 day moving average of $19.75. The stock’s market cap is $4.38 billion.
RPC (NYSE:RES) last released its earnings results on Wednesday, April 26th. The oil and gas company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.04. RPC had a negative return on equity of 12.86% and a negative net margin of 12.54%. The company had revenue of $298.12 million for the quarter, compared to the consensus estimate of $273.35 million. During the same quarter last year, the business posted ($0.15) EPS. RPC’s quarterly revenue was up 57.7% compared to the same quarter last year. On average, equities analysts forecast that RPC, Inc. will post $0.59 earnings per share for the current fiscal year.
A number of analysts have recently issued reports on the stock. Jefferies Group LLC set a $26.00 target price on shares of RPC and gave the company a “buy” rating in a research note on Saturday. Zacks Investment Research upgraded RPC from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Wednesday, March 15th. Susquehanna Bancshares Inc started coverage on RPC in a report on Wednesday, February 22nd. They issued a “neutral” rating and a $23.00 price objective for the company. BMO Capital Markets assumed coverage on RPC in a report on Wednesday, April 12th. They issued an “outperform” rating and a $24.00 price objective for the company. Finally, Wolfe Research downgraded shares of RPC from an “outperform” rating to a “market perform” rating and set a $20.00 target price for the company. in a report on Monday, April 17th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $23.00.
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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