Prescott Group Capital Management L.L.C. acquired a new position in RPC, Inc. (NYSE:RES) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 35,366 shares of the oil and gas company’s stock, valued at approximately $715,000.
Several other hedge funds have also recently made changes to their positions in the company. Alliancebernstein L.P. boosted its stake in shares of RPC by 21.6% in the first quarter. Alliancebernstein L.P. now owns 5,707,098 shares of the oil and gas company’s stock worth $104,497,000 after buying an additional 1,012,027 shares during the period. Vanguard Group Inc. boosted its stake in shares of RPC by 15.4% in the first quarter. Vanguard Group Inc. now owns 5,048,305 shares of the oil and gas company’s stock worth $92,434,000 after buying an additional 672,810 shares during the period. MARSHALL WACE ASIA Ltd purchased a new stake in shares of RPC during the first quarter worth about $28,788,000. Marshall Wace North America L.P. purchased a new stake in shares of RPC during the first quarter worth about $28,788,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of RPC by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,526,110 shares of the oil and gas company’s stock worth $27,941,000 after buying an additional 8,416 shares during the period. 38.43% of the stock is owned by hedge funds and other institutional investors.
Shares of RPC, Inc. (NYSE RES) traded down 0.16% during trading on Friday, hitting $18.61. 1,517,784 shares of the company’s stock were exchanged. The company has a 50-day moving average of $20.33 and a 200-day moving average of $19.54. The company’s market cap is $4.04 billion. RPC, Inc. has a 12-month low of $14.18 and a 12-month high of $23.36.
RPC (NYSE:RES) last announced its quarterly earnings data on Wednesday, July 26th. The oil and gas company reported $0.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.14 by $0.06. RPC had a negative net margin of 1.15% and a negative return on equity of 1.74%. The firm had revenue of $399 million during the quarter, compared to analyst estimates of $415.65 million. During the same quarter in the prior year, the firm posted ($0.23) earnings per share. RPC’s quarterly revenue was up 179.0% on a year-over-year basis. On average, equities analysts expect that RPC, Inc. will post $0.81 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Thursday, August 10th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.29%. This is a positive change from RPC’s previous quarterly dividend of $0.05. RPC’s dividend payout ratio is currently -183.30%.
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A number of analysts have recently issued reports on RES shares. Jefferies Group LLC reissued a “buy” rating and issued a $26.00 price objective on shares of RPC in a research note on Friday, July 21st. Morgan Stanley cut their target price on shares of RPC from $24.00 to $23.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 21st. Seaport Global Securities cut shares of RPC from a “buy” rating to a “neutral” rating and cut their target price for the company from $25.00 to $20.00 in a research note on Wednesday, June 21st. Cowen and Company raised their target price on shares of RPC from $20.00 to $24.00 and gave the company a “market perform” rating in a research note on Thursday, July 27th. Finally, Piper Jaffray Companies reaffirmed a “neutral” rating and set a $20.50 target price (up from $18.75) on shares of RPC in a research note on Wednesday, July 12th. Ten investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $22.91.
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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