Victory Capital Management Inc. Grows Stock Position in RPC, Inc. (NYSE:RES)

Victory Capital Management Inc. boosted its position in RPC, Inc. (NYSE:RES) by 48.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,004,789 shares of the oil and gas company’s stock after buying an additional 656,446 shares during the period. Victory Capital Management Inc. owned approximately 0.94% of RPC worth $12,530,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RES. Dimensional Fund Advisors LP boosted its holdings in RPC by 7.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,684,052 shares of the oil and gas company’s stock worth $63,221,000 after buying an additional 579,638 shares in the last quarter. Empowered Funds LLC grew its stake in RPC by 31.9% in the 1st quarter. Empowered Funds LLC now owns 777,986 shares of the oil and gas company’s stock valued at $6,022,000 after acquiring an additional 188,377 shares during the last quarter. Wasatch Advisors LP purchased a new position in shares of RPC during the 1st quarter worth approximately $1,239,000. Charles Schwab Investment Management Inc. lifted its stake in RPC by 12.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,401,619 shares of the oil and gas company’s stock valued at $10,204,000 after buying an additional 153,518 shares in the last quarter. Finally, Jump Financial LLC acquired a new stake in RPC during the 4th quarter valued at $996,000. 41.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on RES shares. Stifel Nicolaus decreased their price target on shares of RPC from $8.00 to $7.00 and set a “hold” rating on the stock in a research note on Tuesday, July 16th. Susquehanna decreased their price target on RPC from $7.00 to $6.50 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Finally, Citigroup dropped their price objective on shares of RPC from $6.75 to $5.25 and set a “sell” rating for the company in a research note on Wednesday, July 10th.

RPC Stock Up 0.9 %

Shares of NYSE RES opened at $5.78 on Friday. The stock has a market capitalization of $1.24 billion, a PE ratio of 8.26 and a beta of 1.56. The firm has a fifty day moving average of $6.29 and a 200-day moving average of $6.80. RPC, Inc. has a 52-week low of $5.66 and a 52-week high of $9.41.

RPC (NYSE:RES) last announced its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.13 by $0.02. The company had revenue of $364.20 million during the quarter, compared to analyst estimates of $381.18 million. RPC had a return on equity of 11.52% and a net margin of 8.08%. The firm’s revenue was down 12.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.30 earnings per share. Equities research analysts expect that RPC, Inc. will post 0.56 EPS for the current fiscal year.

RPC Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.16 dividend on an annualized basis and a yield of 2.77%. RPC’s dividend payout ratio (DPR) is 22.86%.

RPC Company Profile

RPC, Inc, through its subsidiaries, engages provision of 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 segment offers pressure pumping, fracturing, acidizing, cementing, 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.