276,668 Shares in RPC, Inc. $RES Purchased by Range Financial Group LLC

Key Points

• Range Financial Group LLC acquired 276,668 shares of RPC, Inc. valued at approximately $1.3 million, indicating growing institutional investment in the company.
• Analysts have generally reduced their target prices for RPC, with Piper Sandler lowering it to $4.00 and a consensus average target price now at $4.69.
• RPC recently declared a quarterly dividend of $0.04 per share, resulting in an annualized yield of 3.6%.

Range Financial Group LLC acquired a new position in shares of RPC, Inc. (NYSE:RES - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 276,668 shares of the oil and gas company's stock, valued at approximately $1,309,000. Range Financial Group LLC owned about 0.13% of RPC as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the stock. American Century Companies Inc. increased its holdings in RPC by 11.5% during the first quarter. American Century Companies Inc. now owns 3,388,807 shares of the oil and gas company's stock worth $18,638,000 after buying an additional 349,226 shares during the last quarter. Gabelli Funds LLC increased its holdings in RPC by 0.3% during the first quarter. Gabelli Funds LLC now owns 2,269,415 shares of the oil and gas company's stock worth $12,482,000 after buying an additional 6,938 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in RPC by 10.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,865,119 shares of the oil and gas company's stock worth $10,258,000 after buying an additional 175,340 shares during the last quarter. Bridgeway Capital Management LLC increased its holdings in RPC by 1.1% during the first quarter. Bridgeway Capital Management LLC now owns 1,684,972 shares of the oil and gas company's stock worth $9,267,000 after buying an additional 19,014 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC increased its holdings in RPC by 1.1% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 1,550,650 shares of the oil and gas company's stock worth $8,529,000 after buying an additional 16,470 shares during the last quarter. Hedge funds and other institutional investors own 41.06% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Piper Sandler reduced their target price on shares of RPC from $5.00 to $4.00 and set an "underweight" rating for the company in a research note on Thursday, August 14th. Susquehanna reduced their target price on shares of RPC from $5.50 to $5.00 and set a "neutral" rating for the company in a research note on Friday, July 25th. Finally, Stifel Nicolaus reduced their target price on shares of RPC from $6.00 to $5.00 and set a "hold" rating for the company in a research note on Wednesday, July 16th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and an average target price of $4.69.

RPC Trading Up 0.1%

Shares of RPC stock opened at $4.48 on Tuesday. RPC, Inc. has a 1 year low of $4.10 and a 1 year high of $7.22. The firm has a market cap of $987.03 million, a PE ratio of 17.21 and a beta of 0.89. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.64 and a quick ratio of 2.16. The company has a 50 day simple moving average of $4.70 and a two-hundred day simple moving average of $4.87.

RPC (NYSE:RES - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The oil and gas company reported $0.08 earnings per share for the quarter, missing analysts' consensus estimates of $0.09 by ($0.01). The business had revenue of $420.81 million during the quarter, compared to the consensus estimate of $421.08 million. RPC had a return on equity of 5.65% and a net margin of 3.77%.The company's revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.15 earnings per share. Analysts expect that RPC, Inc. will post 0.31 earnings per share for the current fiscal year.

RPC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Monday, August 11th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Monday, August 11th. RPC's payout ratio is presently 61.54%.

RPC 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.

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