Charles Schwab Investment Management Inc. Has $10.26 Million Stake 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. increased its stake in shares of RPC, Inc. (NYSE:RES - Free Report) by 10.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,865,119 shares of the oil and gas company's stock after buying an additional 175,340 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.85% of RPC worth $10,258,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of RES. Annis Gardner Whiting Capital Advisors LLC bought a new position in RPC in the 1st quarter valued at $64,000. Atria Wealth Solutions Inc. bought a new position in RPC in the 1st quarter valued at $103,000. Jefferies Financial Group Inc. bought a new position in RPC in the 1st quarter valued at $180,000. Kapitalo Investimentos Ltda bought a new position in RPC in the 1st quarter valued at $258,000. Finally, Cetera Investment Advisers raised its position in RPC by 9.0% in the 1st quarter. Cetera Investment Advisers now owns 92,321 shares of the oil and gas company's stock valued at $508,000 after purchasing an additional 7,620 shares during the last quarter. Institutional investors own 41.06% of the company's stock.

RPC Trading Up 1.0%

Shares of RPC stock traded up $0.05 during trading on Friday, reaching $4.78. 797,752 shares of the company were exchanged, compared to its average volume of 1,734,995. The company has a quick ratio of 2.16, a current ratio of 2.64 and a debt-to-equity ratio of 0.03. RPC, Inc. has a twelve month low of $4.10 and a twelve month high of $7.22. The business has a 50-day moving average price of $4.76 and a 200-day moving average price of $4.98. The firm has a market capitalization of $1.05 billion, a price-to-earnings ratio of 18.37 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 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 company had revenue of $420.81 million for the quarter, compared to analyst estimates of $421.08 million. During the same period last year, the firm earned $0.15 earnings per share. The firm's revenue for the quarter was up 15.5% on a year-over-year basis. Sell-side analysts anticipate that RPC, Inc. will post 0.31 EPS for the current fiscal year.

RPC Announces Dividend

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

Wall Street Analysts Forecast Growth

RES has been the subject of several research analyst reports. Stifel Nicolaus cut their price objective on RPC from $6.00 to $5.00 and set a "hold" rating for the company in a research report on Wednesday, July 16th. Susquehanna lowered their target price on RPC from $5.50 to $5.00 and set a "neutral" rating for the company in a research note on Friday, July 25th. Finally, Piper Sandler lowered their target price on RPC from $5.00 to $4.00 and set an "underweight" rating for the company in a research note on Thursday, August 14th. Three research 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 company currently has a consensus rating of "Reduce" and an average target price of $4.69.

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.