Dimensional Fund Advisors LP cut its holdings in RPC, Inc. (NYSE:RES) by 21.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,015,177 shares of the oil and gas company’s stock after selling 269,211 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.47% of RPC worth $25,165,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its stake in RPC by 7.6% in the second quarter. The Manufacturers Life Insurance Company now owns 6,514 shares of the oil and gas company’s stock valued at $132,000 after buying an additional 459 shares in the last quarter. Calamos Advisors LLC acquired a new stake in RPC in the third quarter valued at about $206,000. Raymond James Financial Services Advisors Inc. acquired a new stake in RPC in the third quarter valued at about $216,000. Brown Advisory Inc. acquired a new stake in RPC in the third quarter valued at about $231,000. Finally, FDx Advisors Inc. acquired a new stake in RPC in the third quarter valued at about $237,000. 38.10% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Amy Rollins Kreisler acquired 5,000 shares of the stock in a transaction dated Friday, October 27th. The stock was bought at an average cost of $23.21 per share, for a total transaction of $116,050.00. Following the completion of the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at $116,050. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 73.50% of the stock is owned by company insiders.
RPC, Inc. (NYSE RES) opened at $24.65 on Friday. The company has a market capitalization of $5,270.00, a PE ratio of 64.87, a price-to-earnings-growth ratio of 0.84 and a beta of 1.14. RPC, Inc. has a 1 year low of $16.63 and a 1 year high of $27.07.
RPC (NYSE:RES) last posted its earnings results on Wednesday, October 25th. The oil and gas company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.03). The firm had revenue of $471.00 million during the quarter, compared to the consensus estimate of $474.41 million. RPC had a net margin of 6.03% and a return on equity of 10.31%. RPC’s revenue for the quarter was up 167.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.18) earnings per share. equities analysts expect that RPC, Inc. will post 0.82 EPS for the current fiscal year.
Several analysts recently weighed in on the company. B. Riley lowered RPC from a “buy” rating to a “neutral” rating and set a $27.00 price objective on the stock. in a research note on Friday, December 22nd. Stephens assumed coverage on RPC in a research note on Tuesday, January 9th. They issued an “equal weight” rating and a $28.00 price objective on the stock. Zacks Investment Research raised RPC from a “hold” rating to a “strong-buy” rating and set a $29.00 price objective on the stock in a research note on Thursday, January 4th. Jefferies Group set a $29.00 price objective on RPC and gave the company a “hold” rating in a research note on Thursday, January 4th. Finally, Cowen set a $28.00 price objective on RPC and gave the company a “hold” rating in a research note on Thursday, January 11th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $25.32.
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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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