Prudential Financial Inc. trimmed its position in RPC, Inc. (NYSE:RES) by 28.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 24,060 shares of the oil and gas company’s stock after selling 9,560 shares during the period. Prudential Financial Inc.’s holdings in RPC were worth $486,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of RES. Pacer Advisors Inc. boosted its holdings in RPC by 22.0% in the 1st quarter. Pacer Advisors Inc. now owns 10,144 shares of the oil and gas company’s stock worth $186,000 after buying an additional 1,830 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in RPC by 40.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 10,503 shares of the oil and gas company’s stock worth $192,000 after buying an additional 3,048 shares during the last quarter. Bbva Compass Bancshares Inc. acquired a new stake in RPC in the 2nd quarter worth about $219,000. RFG Advisory Group LLC acquired a new stake in RPC in the 2nd quarter worth about $265,000. Finally, Winch Advisory Services LLC boosted its holdings in RPC by 284.9% in the 2nd quarter. Winch Advisory Services LLC now owns 20,055 shares of the oil and gas company’s stock worth $405,000 after buying an additional 14,845 shares during the last quarter. Institutional investors own 38.17% of the company’s stock.
RPC, Inc. (RES) opened at 22.73 on Wednesday. The stock’s market capitalization is $4.94 billion. The firm has a 50-day moving average of $21.88 and a 200-day moving average of $20.02. RPC, Inc. has a 1-year low of $16.48 and a 1-year high of $25.00.
RPC (NYSE:RES) last released its quarterly earnings results on Wednesday, July 26th. The oil and gas company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.14 by $0.06. The business had revenue of $399.00 million for the quarter, compared to analyst estimates of $415.65 million. RPC had a negative net margin of 1.15% and a negative return on equity of 1.74%. The company’s quarterly revenue was up 179.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.23) earnings per share. Equities research analysts anticipate that RPC, Inc. will post $0.82 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Thursday, August 10th were given a $0.06 dividend. The ex-dividend date of this dividend was Tuesday, August 8th. This is a positive change from RPC’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a dividend yield of 1.06%. RPC’s dividend payout ratio is currently -183.30%.
Several equities research analysts recently issued reports on the company. Jefferies Group LLC cut RPC from a “buy” rating to a “hold” rating and set a $26.00 price objective on the stock. in a report on Thursday, October 5th. Citigroup Inc. lifted their price objective on RPC from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, October 5th. Cowen and Company set a $24.00 price objective on RPC and gave the stock a “hold” rating in a report on Friday, October 6th. Deutsche Bank AG assumed coverage on RPC in a report on Tuesday. They issued a “hold” rating and a $25.00 price objective on the stock. Finally, Seaport Global Securities reiterated a “neutral” rating on shares of RPC in a report on Wednesday, July 26th. Thirteen analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $23.36.
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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