RPC, Inc. (RES) Shares Bought by Commerce Bank
Commerce Bank boosted its stake in shares of RPC, Inc. (NYSE:RES) by 4.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 659,446 shares of the oil and gas company’s stock after buying an additional 27,686 shares during the period. Commerce Bank owned 0.30% of RPC worth $13,328,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Flinton Capital Management LLC raised its stake in RPC by 86.9% in the first quarter. Flinton Capital Management LLC now owns 7,296 shares of the oil and gas company’s stock valued at $134,000 after buying an additional 3,392 shares during the last quarter. Meadow Creek Investment Management LLC raised its stake in RPC by 86.9% in the first quarter. Meadow Creek Investment Management LLC now owns 10,032 shares of the oil and gas company’s stock valued at $184,000 after buying an additional 4,664 shares during the last quarter. Pacer Advisors Inc. raised its stake in RPC by 22.0% in the first quarter. Pacer Advisors Inc. now owns 10,144 shares of the oil and gas company’s stock valued at $186,000 after buying an additional 1,830 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in RPC by 40.9% in the first quarter. BNP Paribas Arbitrage SA now owns 10,503 shares of the oil and gas company’s stock valued at $192,000 after buying an additional 3,048 shares during the last quarter. Finally, Advisory Services Network LLC bought a new stake in RPC during the first quarter valued at about $206,000. Institutional investors and hedge funds own 38.18% of the company’s stock.
Shares of RPC, Inc. (NYSE RES) opened at 18.97 on Thursday. The company’s market capitalization is $4.12 billion. RPC, Inc. has a 12 month low of $14.18 and a 12 month high of $23.36. The firm’s 50-day moving average price is $20.10 and its 200-day moving average price is $19.43.
RPC (NYSE:RES) last posted its earnings results on Wednesday, July 26th. The oil and gas company reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.06. The business had revenue of $399 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 business’s quarterly revenue was up 179.0% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.23) EPS. Equities research analysts expect that RPC, Inc. will post $0.81 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Thursday, August 10th will be issued a $0.06 dividend. The ex-dividend date is Tuesday, August 8th. This represents a $0.24 dividend on an annualized basis and a yield of 1.28%. This is a positive change from RPC’s previous quarterly dividend of $0.05. RPC’s payout ratio is currently -183.30%.
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RES has been the subject of several analyst reports. Jefferies Group LLC set a $26.00 price objective on RPC and gave the company a “buy” rating in a research note on Monday. Morgan Stanley lowered their price objective on RPC from $24.00 to $23.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 21st. Zacks Investment Research lowered RPC from a “buy” rating to a “hold” rating in a research note on Tuesday, July 18th. Cowen and Company raised their price objective on RPC from $20.00 to $24.00 and gave the company a “market perform” rating in a research note on Thursday, July 27th. Finally, Seaport Global Securities reaffirmed a “neutral” rating on shares of RPC in a research note on Wednesday, July 26th. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $22.91.
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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