Royce & Associates LP cut its position in RPC, Inc. (NYSE:RES – Free Report) by 21.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 326,108 shares of the oil and gas company’s stock after selling 88,219 shares during the quarter. Royce & Associates LP owned about 0.15% of RPC worth $1,774,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC increased its holdings in shares of RPC by 220.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,533 shares of the oil and gas company’s stock worth $31,000 after buying an additional 4,495 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of RPC by 243.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,681 shares of the oil and gas company’s stock worth $41,000 after buying an additional 6,153 shares during the last quarter. Hantz Financial Services Inc. increased its holdings in shares of RPC by 940.3% in the 3rd quarter. Hantz Financial Services Inc. now owns 9,113 shares of the oil and gas company’s stock worth $43,000 after buying an additional 8,237 shares during the last quarter. CWM LLC increased its holdings in shares of RPC by 88.2% in the 4th quarter. CWM LLC now owns 9,316 shares of the oil and gas company’s stock worth $51,000 after buying an additional 4,365 shares during the last quarter. Finally, Range Financial Group LLC bought a new position in shares of RPC in the 4th quarter worth $59,000. 41.06% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
RES has been the topic of a number of research analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of RPC in a report on Tuesday, April 14th. Susquehanna increased their price target on shares of RPC from $7.00 to $7.50 and gave the stock a “neutral” rating in a report on Friday, May 8th. Finally, Wall Street Zen lowered shares of RPC from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Four investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $5.63.
RPC Price Performance
RES stock opened at $6.61 on Friday. The firm has a market cap of $1.47 billion, a P/E ratio of 73.46 and a beta of 0.69. RPC, Inc. has a 52 week low of $4.18 and a 52 week high of $8.16. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.61 and a current ratio of 3.13. The firm’s fifty day moving average is $7.10 and its 200 day moving average is $6.28.
RPC (NYSE:RES – Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The business had revenue of $454.76 million for the quarter, compared to analyst estimates of $406.68 million. RPC had a net margin of 1.20% and a return on equity of 4.82%. The company’s revenue was up 36.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.06 EPS. Research analysts predict that RPC, Inc. will post 0.2 earnings per share for the current year.
RPC Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Monday, May 11th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Monday, May 11th. RPC’s dividend payout ratio (DPR) is 177.78%.
RPC Profile
RPC, Inc (NYSE: RES) provides essential equipment and services to companies engaged in the exploration, production and maintenance of oil and natural gas wells. The firm operates as an equity interest holding company, partnering with a network of independent service businesses to deliver a comprehensive suite of offerings for well completion and production operations.
Through its affiliated service companies, RPC offers pressure pumping and fracturing services, coiled tubing and nitrogen pumping, downhole tools and telemetry solutions, well intervention and workover services, along with rental tools and supply-chain logistics.
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