Legal & General Group Plc purchased a new position in RPC, Inc. (NYSE:RES – Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 212,694 shares of the oil and gas company’s stock, valued at approximately $1,240,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in RES. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in RPC by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 50,558 shares of the oil and gas company’s stock valued at $278,000 after buying an additional 2,190 shares during the last quarter. Mariner LLC grew its stake in shares of RPC by 3.3% in the third quarter. Mariner LLC now owns 76,699 shares of the oil and gas company’s stock worth $365,000 after acquiring an additional 2,446 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of RPC by 2.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 128,551 shares of the oil and gas company’s stock worth $699,000 after acquiring an additional 2,648 shares during the last quarter. State Board of Administration of Florida Retirement System increased its holdings in shares of RPC by 1.7% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 204,551 shares of the oil and gas company’s stock valued at $1,113,000 after acquiring an additional 3,411 shares in the last quarter. Finally, Baird Financial Group Inc. increased its holdings in shares of RPC by 0.9% during the second quarter. Baird Financial Group Inc. now owns 396,393 shares of the oil and gas company’s stock valued at $1,875,000 after acquiring an additional 3,542 shares in the last quarter. Hedge funds and other institutional investors own 41.06% of the company’s stock.
RPC Trading Up 0.2%
RPC stock opened at $6.51 on Monday. RPC, Inc. has a 1 year low of $4.18 and a 1 year high of $8.16. The firm’s 50 day moving average price is $5.96 and its 200-day moving average price is $6.50. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.34 and a quick ratio of 2.76. The stock has a market cap of $1.44 billion, a P/E ratio of 72.33 and a beta of 0.70.
RPC Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Monday, August 10th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, August 10th. RPC’s dividend payout ratio is 177.78%.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on RES shares. Weiss Ratings upgraded shares of RPC from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, August 31st. Susquehanna reduced their price objective on shares of RPC from $7.50 to $6.00 and set a “neutral” rating for the company in a research note on Wednesday, July 8th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, RPC has a consensus rating of “Reduce” and an average target price of $6.00.
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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