Eagle Boston Investment Management Inc. Has $8.53 Million Holdings in RPC, Inc. (RES)
Eagle Boston Investment Management Inc. boosted its position in RPC, Inc. (NYSE:RES) by 22.9% in the 3rd quarter, Holdings Channel reports. The firm owned 550,919 shares of the oil and gas company’s stock after buying an additional 102,569 shares during the quarter. Eagle Boston Investment Management Inc.’s holdings in RPC were worth $8,528,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of RES. Bigelow Investment Advisors LLC acquired a new position in shares of RPC during the 3rd quarter worth about $311,000. Virginia Retirement Systems ET AL acquired a new position in shares of RPC during the 3rd quarter worth about $517,000. Gabelli Funds LLC raised its position in shares of RPC by 1.6% during the 3rd quarter. Gabelli Funds LLC now owns 2,691,185 shares of the oil and gas company’s stock worth $41,660,000 after purchasing an additional 43,080 shares during the last quarter. Gamco Investors INC. ET AL raised its position in shares of RPC by 3.0% during the 3rd quarter. Gamco Investors INC. ET AL now owns 2,518,979 shares of the oil and gas company’s stock worth $38,994,000 after purchasing an additional 72,237 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in shares of RPC during the 3rd quarter worth about $262,000. 32.33% of the stock is owned by hedge funds and other institutional investors.
RPC stock opened at $14.01 on Monday. RPC, Inc. has a 1-year low of $12.86 and a 1-year high of $27.07. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.74 and a quick ratio of 3.01. The company has a market capitalization of $3.01 billion, a PE ratio of 21.23, a PEG ratio of 0.92 and a beta of 0.70.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Friday, November 9th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $0.40 annualized dividend and a dividend yield of 2.86%. RPC’s dividend payout ratio (DPR) is 60.61%.
Several research analysts recently weighed in on RES shares. Cowen restated a “hold” rating and set a $15.00 price target on shares of RPC in a research report on Thursday, July 26th. Macquarie set a $13.00 price objective on shares of RPC and gave the company a “hold” rating in a research note on Thursday, October 25th. Bank of America initiated coverage on shares of RPC in a research note on Wednesday, October 17th. They set a “neutral” rating for the company. BMO Capital Markets cut shares of RPC from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $19.00 to $16.00 in a research note on Thursday, August 9th. Finally, Zacks Investment Research cut shares of RPC from a “hold” rating to a “sell” rating in a research note on Tuesday, July 31st. Three investment analysts have rated the stock with a sell rating and seventeen have assigned a hold rating to the company’s stock. RPC currently has an average rating of “Hold” and a consensus price target of $17.35.
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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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