First Trust Advisors LP Acquires Shares of 153,877 RPC, Inc. (RES)
First Trust Advisors LP acquired a new stake in RPC, Inc. (NYSE:RES) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 153,877 shares of the oil and gas company’s stock, valued at approximately $3,815,000. First Trust Advisors LP owned 0.07% of RPC as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently made changes to their positions in the company. Commerce Bank grew its stake in RPC by 4.4% in the second quarter. Commerce Bank now owns 659,446 shares of the oil and gas company’s stock valued at $13,328,000 after acquiring an additional 27,686 shares during the period. Russell Investments Group Ltd. grew its stake in RPC by 12.5% in the second quarter. Russell Investments Group Ltd. now owns 186,991 shares of the oil and gas company’s stock valued at $3,779,000 after acquiring an additional 20,832 shares during the period. Victory Capital Management Inc. grew its stake in RPC by 16.5% in the second quarter. Victory Capital Management Inc. now owns 599,280 shares of the oil and gas company’s stock valued at $12,111,000 after acquiring an additional 84,880 shares during the period. Schwab Charles Investment Management Inc. grew its stake in RPC by 11.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 340,267 shares of the oil and gas company’s stock valued at $6,877,000 after acquiring an additional 34,317 shares during the period. Finally, Principal Financial Group Inc. grew its stake in RPC by 41.8% in the second quarter. Principal Financial Group Inc. now owns 16,357 shares of the oil and gas company’s stock valued at $331,000 after acquiring an additional 4,822 shares during the period. 38.08% of the stock is owned by hedge funds and other institutional investors.
In other RPC news, Director Amy Rollins Kreisler purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The shares were acquired at an average cost of $23.21 per share, for a total transaction of $116,050.00. Following the completion of the acquisition, the director now owns 5,000 shares of the company’s stock, valued at approximately $116,050. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 73.50% of the company’s stock.
Shares of RPC, Inc. (NYSE:RES) opened at $23.30 on Friday. The company has a market capitalization of $5,046.45, a price-to-earnings ratio of 59.74, a P/E/G ratio of 1.59 and a beta of 1.16. RPC, Inc. has a fifty-two week low of $16.63 and a fifty-two week high of $26.45.
RPC (NYSE:RES) last issued its quarterly earnings results on Wednesday, October 25th. The oil and gas company reported $0.26 EPS for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.03). The business had revenue of $471.00 million for the quarter, compared to the consensus estimate of $474.41 million. RPC had a return on equity of 10.31% and a net margin of 6.03%. The business’s revenue was up 167.8% compared to the same quarter last year. During the same quarter last 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.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Friday, November 10th will be issued a dividend of $0.07 per share. This is a positive change from RPC’s previous quarterly dividend of $0.06. This represents a $0.28 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Thursday, November 9th. RPC’s dividend payout ratio (DPR) is 73.69%.
A number of equities research analysts have commented on the company. Zacks Investment Research raised RPC from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research note on Tuesday, October 17th. Cowen and Company set a $24.00 price objective on RPC and gave the company a “hold” rating in a research note on Friday, October 6th. Jefferies Group LLC set a $25.00 price objective on RPC and gave the company a “hold” rating in a research note on Thursday, October 26th. Seaport Global Securities restated a “neutral” rating on shares of RPC in a report on Wednesday, July 26th. Finally, Raymond James Financial, Inc. lowered RPC from a “strong-buy” rating to an “outperform” rating in a report on Thursday, October 26th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $24.23.
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.
Want to see what other hedge funds are holding RES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RPC, Inc. (NYSE:RES).
Receive News & Ratings for RPC Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RPC Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.