Gamco Investors INC. ET AL lifted its stake in RPC, Inc. (NYSE:RES) by 3.0% in the third quarter, HoldingsChannel.com reports. The firm owned 2,518,979 shares of the oil and gas company’s stock after buying an additional 72,237 shares during the period. Gamco Investors INC. ET AL’s holdings in RPC were worth $38,994,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the company. NumerixS Investment Technologies Inc boosted its holdings in shares of RPC by 101.1% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 10,861 shares of the oil and gas company’s stock worth $159,000 after purchasing an additional 5,461 shares during the period. Alps Advisors Inc. raised its position in RPC by 38.9% during the 3rd quarter. Alps Advisors Inc. now owns 31,332 shares of the oil and gas company’s stock valued at $485,000 after purchasing an additional 8,777 shares in the last quarter. Cambiar Investors LLC raised its position in RPC by 1.9% during the 3rd quarter. Cambiar Investors LLC now owns 499,200 shares of the oil and gas company’s stock valued at $7,728,000 after purchasing an additional 9,526 shares in the last quarter. BlueMountain Capital Management LLC raised its position in RPC by 484.4% during the 2nd quarter. BlueMountain Capital Management LLC now owns 12,833 shares of the oil and gas company’s stock valued at $187,000 after purchasing an additional 10,637 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in RPC by 12.1% during the 1st quarter. Wells Fargo & Company MN now owns 103,424 shares of the oil and gas company’s stock valued at $1,865,000 after purchasing an additional 11,141 shares in the last quarter. Hedge funds and other institutional investors own 32.31% of the company’s stock.
Shares of NYSE:RES opened at $14.60 on Wednesday. RPC, Inc. has a 1 year low of $12.96 and a 1 year high of $27.07. The stock has a market cap of $3.18 billion, a P/E ratio of 22.12, a price-to-earnings-growth ratio of 0.97 and a beta of 0.70. The company has a current ratio of 3.74, a quick ratio of 3.01 and a debt-to-equity ratio of 0.01.
RPC (NYSE:RES) last announced its earnings results on Wednesday, October 24th. The oil and gas company reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.23 by ($0.04). RPC had a net margin of 12.40% and a return on equity of 20.48%. The business had revenue of $439.99 million for the quarter, compared to analyst estimates of $456.54 million. During the same period in the prior year, the company earned $0.26 earnings per share. The company’s quarterly revenue was down 6.6% on a year-over-year basis. Research analysts expect that RPC, Inc. will post 0.84 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 9th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.74%. The ex-dividend date is Thursday, November 8th. RPC’s dividend payout ratio is currently 60.61%.
A number of equities research analysts have weighed in on RES shares. Morgan Stanley set a $14.00 target price on RPC and gave the company a “sell” rating in a research report on Thursday, October 11th. Citigroup decreased their target price on RPC from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, September 14th. SunTrust Banks lowered RPC from a “buy” rating to a “hold” rating and decreased their target price for the company from $25.00 to $16.00 in a research report on Thursday, August 30th. Stifel Nicolaus started coverage on RPC in a research report on Monday, September 10th. They set a “hold” rating and a $15.00 target price for the company. Finally, Wolfe Research started coverage on RPC in a research report on Wednesday, October 10th. They set an “underperform” rating for the company. Three analysts have rated the stock with a sell rating and seventeen have issued a hold rating to the stock. The stock has an average rating of “Hold” and an average target price of $17.35.
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RPC Company Profile
RPC, Inc provides a range of oilfield services and equipment for the oil and gas companies involved in the exploration, production, and development of oil and gas properties. The company operates through Technical Services and Support Services segments. The Technical Services offers pressure pumping, fracturing, acidizing, downhole tools, coiled tubing, snubbing, nitrogen, well control, wireline, pump down, and fishing services that are used in the completion, production, and maintenance of oil and gas wells.
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