Vanguard Personalized Indexing Management LLC Acquires 4,136 Shares of RPC, Inc. (NYSE:RES)

Vanguard Personalized Indexing Management LLC raised its holdings in shares of RPC, Inc. (NYSE:RES) by 38.7% during the second quarter, HoldingsChannel reports. The fund owned 14,821 shares of the oil and gas company’s stock after purchasing an additional 4,136 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in RPC were worth $93,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of RES. CWM LLC raised its holdings in RPC by 256.5% during the 2nd quarter. CWM LLC now owns 5,112 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 3,678 shares during the period. Register Financial Advisors LLC bought a new stake in RPC during the 1st quarter valued at $39,000. Innealta Capital LLC bought a new stake in RPC during the 2nd quarter valued at $44,000. ICA Group Wealth Management LLC bought a new stake in RPC during the 4th quarter valued at $47,000. Finally, TFO Wealth Partners LLC raised its holdings in RPC by 304,100.0% during the 4th quarter. TFO Wealth Partners LLC now owns 9,126 shares of the oil and gas company’s stock valued at $66,000 after acquiring an additional 9,123 shares during the period. Institutional investors own 41.06% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on RES. Stifel Nicolaus lowered their target price on shares of RPC from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Tuesday, July 16th. Citigroup decreased their price target on shares of RPC from $6.75 to $5.25 and set a “sell” rating on the stock in a report on Wednesday, July 10th. Finally, Susquehanna decreased their price target on shares of RPC from $7.00 to $6.50 and set a “neutral” rating on the stock in a report on Thursday, July 11th.

RPC Stock Performance

RPC stock opened at $6.37 on Tuesday. The stock has a market cap of $1.37 billion, a P/E ratio of 9.09 and a beta of 1.56. RPC, Inc. has a fifty-two week low of $5.66 and a fifty-two week high of $9.26. The firm’s fifty day moving average price is $6.38 and its 200-day moving average price is $6.72.

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

RPC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were given a $0.04 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.16 annualized dividend and a yield of 2.51%. RPC’s dividend payout ratio (DPR) is presently 22.86%.

About RPC

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.