Charles Schwab Investment Management Inc. Increases Stock Position in RPC, Inc. $RES

Key Points

• Charles Schwab Investment Management Inc. increased its stake in RPC, Inc. by 10.4%, holding approximately 1.87 million shares valued at $10.26 million as of the latest SEC filing.
• RPC, Inc. reported a 0.08 EPS for the last quarter, missing analyst estimates, with a year-over-year revenue increase of 15.5%.
• The company plans to pay a quarterly dividend of $0.04 per share on September 10th, reflecting an annualized yield of 3.4%.

Charles Schwab Investment Management Inc. grew its stake in shares of RPC, Inc. (NYSE:RES - Free Report) by 10.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,865,119 shares of the oil and gas company's stock after acquiring an additional 175,340 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.85% of RPC worth $10,258,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of RPC by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,368 shares of the oil and gas company's stock worth $287,000 after purchasing an additional 1,697 shares during the period. SummerHaven Investment Management LLC lifted its stake in shares of RPC by 1.8% in the 1st quarter. SummerHaven Investment Management LLC now owns 134,642 shares of the oil and gas company's stock worth $741,000 after purchasing an additional 2,346 shares during the period. Comerica Bank lifted its stake in shares of RPC by 3.6% in the 4th quarter. Comerica Bank now owns 86,007 shares of the oil and gas company's stock worth $511,000 after purchasing an additional 2,979 shares during the period. Aquatic Capital Management LLC lifted its stake in shares of RPC by 3.9% in the 4th quarter. Aquatic Capital Management LLC now owns 80,637 shares of the oil and gas company's stock worth $479,000 after purchasing an additional 3,037 shares during the period. Finally, Bridge City Capital LLC lifted its stake in shares of RPC by 1.3% in the 1st quarter. Bridge City Capital LLC now owns 281,538 shares of the oil and gas company's stock worth $1,548,000 after purchasing an additional 3,593 shares during the period. Hedge funds and other institutional investors own 41.06% of the company's stock.

RPC Price Performance

NYSE RES opened at $4.7550 on Monday. RPC, Inc. has a 12 month low of $4.10 and a 12 month high of $7.22. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 18.29 and a beta of 0.88. The company's 50 day moving average is $4.80 and its two-hundred day moving average is $5.01. The company has a current ratio of 2.64, a quick ratio of 2.16 and a debt-to-equity ratio of 0.03.

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

RPC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Monday, August 11th will be paid a dividend of $0.04 per share. The ex-dividend date is Monday, August 11th. This represents a $0.16 dividend on an annualized basis and a yield of 3.4%. RPC's dividend payout ratio (DPR) is presently 61.54%.

Analyst Upgrades and Downgrades

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

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.

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