Timpani Capital Management LLC lowered its stake in RPC, Inc. (NYSE:RES) by 53.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 43,660 shares of the oil and gas company’s stock after selling 49,912 shares during the period. Timpani Capital Management LLC’s holdings in RPC were worth $882,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Flinton Capital Management LLC increased its position in shares of RPC by 86.9% in the 1st quarter. Flinton Capital Management LLC now owns 7,296 shares of the oil and gas company’s stock worth $134,000 after purchasing an additional 3,392 shares during the last quarter. Meadow Creek Investment Management LLC increased its position in shares of RPC by 86.9% in the 1st quarter. Meadow Creek Investment Management LLC now owns 10,032 shares of the oil and gas company’s stock worth $184,000 after purchasing an additional 4,664 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of RPC by 22.0% in the 1st quarter. Pacer Advisors Inc. now owns 10,144 shares of the oil and gas company’s stock worth $186,000 after purchasing an additional 1,830 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of RPC by 40.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 10,503 shares of the oil and gas company’s stock worth $192,000 after purchasing an additional 3,048 shares during the last quarter. Finally, Bbva Compass Bancshares Inc. bought a new stake in shares of RPC in the 2nd quarter worth about $219,000. 38.18% of the stock is owned by institutional investors.
Several equities research analysts have recently weighed in on the stock. Jefferies Group LLC set a $26.00 target price on shares of RPC and gave the stock a “buy” rating in a research report on Monday, August 28th. Seaport Global Securities reaffirmed a “neutral” rating on shares of RPC in a research report on Wednesday, July 26th. Cowen and Company reaffirmed a “hold” rating and set a $24.00 price objective on shares of RPC in a research report on Friday, September 1st. Zacks Investment Research downgraded shares of RPC from a “buy” rating to a “hold” rating in a research report on Tuesday, July 18th. Finally, Piper Jaffray Companies reaffirmed a “neutral” rating and set a $20.50 price objective (up previously from $18.75) on shares of RPC in a research report on Wednesday, July 12th. Eleven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $22.69.
Shares of RPC, Inc. (NYSE RES) traded up 2.06% during mid-day trading on Monday, hitting $20.76. 148,036 shares of the stock were exchanged. The firm’s market cap is $4.51 billion. The company’s 50-day moving average is $19.90 and its 200-day moving average is $19.33. RPC, Inc. has a 1-year low of $14.18 and a 1-year high of $23.36.
RPC (NYSE:RES) last issued its quarterly earnings data on Wednesday, July 26th. The oil and gas company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $399 million for the quarter, compared to analyst estimates of $415.65 million. During the same quarter in the prior year, the firm earned ($0.23) EPS. The company’s revenue was up 179.0% on a year-over-year basis. Equities research analysts anticipate that RPC, Inc. will post $0.81 earnings per share for the current fiscal year.
The business 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 dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $0.24 dividend on an annualized basis and a yield of 1.18%. This is a positive change from RPC’s previous quarterly dividend of $0.05. RPC’s dividend payout ratio is currently -183.30%.
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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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