10,870 Shares in RPC, Inc. (NYSE:RES) Acquired by Bbva Compass Bancshares Inc.
Bbva Compass Bancshares Inc. bought a new position in RPC, Inc. (NYSE:RES) during the second quarter, Holdings Channel reports. The firm bought 10,870 shares of the oil and gas company’s stock, valued at approximately $219,000.
A number of other hedge funds have also recently bought and sold shares of the company. Alliancebernstein L.P. raised its stake in 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. raised its stake in 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 RPC during the first quarter worth $28,788,000. Marshall Wace North America L.P. purchased a new stake in RPC during the first quarter worth $28,788,000. Finally, Dimensional Fund Advisors LP raised its stake in 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. 40.24% of the stock is currently owned by institutional investors and hedge funds.
RPC, Inc. (NYSE:RES) opened at 20.70 on Thursday. The company’s market cap is $4.50 billion. The stock has a 50 day moving average of $20.39 and a 200-day moving average of $19.66. RPC, Inc. has a one year low of $14.18 and a one year high of $23.36.
RPC (NYSE:RES) last announced its quarterly earnings results on Wednesday, July 26th. The oil and gas company reported $0.20 earnings per share for the quarter, topping the 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 company had revenue of $399 million for the quarter, compared to analysts’ expectations of $415.65 million. During the same quarter in the previous year, the business posted ($0.23) earnings per share. RPC’s quarterly revenue was up 179.0% on a year-over-year basis. On average, equities analysts predict that RPC, Inc. will post $0.84 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 11th. Investors of record on Thursday, August 10th will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Tuesday, August 8th. This is a boost from RPC’s previous quarterly dividend of $0.05. RPC’s payout ratio is currently -183.30%.
A number of analysts recently weighed in on RES shares. Jefferies Group LLC reaffirmed a “buy” rating and set a $26.00 target price on shares of RPC in a report on Friday, July 21st. Morgan Stanley decreased their target price on shares of RPC from $24.00 to $23.00 and set an “equal weight” rating on the stock in a report on Wednesday, June 21st. Seaport Global Securities lowered shares of RPC from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $25.00 to $20.00 in a report on Wednesday, June 21st. Cowen and Company upped their target price on shares of RPC from $20.00 to $24.00 and gave the stock a “market perform” rating in a report on Thursday, July 27th. Finally, Wolfe Research lowered shares of RPC from an “outperform” rating to a “market perform” rating and set a $20.00 target price on the stock. in a report on Monday, April 17th. Ten research 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 target price 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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