American Century Companies Inc. Raises Stock Holdings in RPC, Inc. $RES

Key Points

• American Century Companies Inc. raised its stake in RPC, Inc. by 11.5%, now owning 3,388,807 shares worth $18.6 million.
• RPC reported a quarterly earnings miss of $0.08 per share, which fell short of analyst expectations, while also achieving a 15.5% year-over-year revenue increase.
• The company has declared a quarterly dividend of $0.04 per share, with an upcoming ex-dividend date of August 11th and a yield of 3.4%.

American Century Companies Inc. lifted its holdings in shares of RPC, Inc. (NYSE:RES - Free Report) by 11.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,388,807 shares of the oil and gas company's stock after purchasing an additional 349,226 shares during the quarter. American Century Companies Inc. owned 1.54% of RPC worth $18,638,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in shares of RPC during the fourth quarter worth about $64,000. Vise Technologies Inc. purchased a new position in shares of RPC during the fourth quarter worth about $66,000. Renaissance Technologies LLC bought a new stake in RPC in the 4th quarter worth approximately $68,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in RPC in the 1st quarter worth approximately $64,000. Finally, XTX Topco Ltd bought a new stake in RPC in the 4th quarter worth approximately $69,000. Hedge funds and other institutional investors own 41.06% of the company's stock.

RPC Stock Performance

Shares of RES stock opened at $4.7550 on Monday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.16 and a current ratio of 2.64. RPC, Inc. has a fifty-two week low of $4.10 and a fifty-two week high of $7.22. The stock has a 50 day moving average price of $4.80 and a two-hundred day moving average price of $5.01. The company has a market capitalization of $1.05 billion, a P/E ratio of 18.29 and a beta of 0.88.

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 the consensus estimate of $0.09 by ($0.01). RPC had a net margin of 3.77% and a return on equity of 5.65%. The company had revenue of $420.81 million during the quarter, compared to the consensus estimate of $421.08 million. During the same quarter in the previous year, the firm posted $0.15 EPS. The business's revenue for the quarter was up 15.5% compared to the same quarter last year. Analysts expect that RPC, Inc. will post 0.31 earnings per share for the current year.

RPC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Monday, August 11th will be given a $0.04 dividend. The ex-dividend date is Monday, August 11th. This represents a $0.16 annualized dividend and a yield of 3.4%. RPC's payout ratio is presently 61.54%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Piper Sandler dropped their target price on RPC from $5.00 to $4.00 and set an "underweight" rating for the company in a research report on Thursday, August 14th. Stifel Nicolaus dropped their target price on RPC from $6.00 to $5.00 and set a "hold" rating for the company in a research report on Wednesday, July 16th. Finally, Susquehanna dropped their target price on RPC from $5.50 to $5.00 and set a "neutral" rating for the company in a research report on Friday, July 25th. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, RPC currently has a consensus rating of "Reduce" and an average price target of $4.69.

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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