Deutsche Bank AG Sells 109,740 Shares of RPC, Inc. $RES

Key Points

• Deutsche Bank AG significantly decreased its stake in RPC, Inc. by 59.8% during Q1, owning 73,678 shares valued at approximately $405,000 after selling over 109,000 shares.
• Multiple institutional investors have acquired new positions in RPC, with ownership by these entities standing at 41.06% of the company's stock.
• Wall Street analysts have generally lowered their target prices for RPC, with an average rating of "Reduce" and a consensus price target of $4.69.

Deutsche Bank AG decreased its position in shares of RPC, Inc. (NYSE:RES - Free Report) by 59.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,678 shares of the oil and gas company's stock after selling 109,740 shares during the period. Deutsche Bank AG's holdings in RPC were worth $405,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new stake in RPC during the fourth quarter worth approximately $64,000. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of RPC in the first quarter valued at $64,000. Vise Technologies Inc. bought a new position in shares of RPC in the fourth quarter valued at $66,000. Renaissance Technologies LLC bought a new position in shares of RPC in the fourth quarter valued at $68,000. Finally, XTX Topco Ltd bought a new position in shares of RPC in the fourth quarter valued at $69,000. Institutional investors own 41.06% of the company's stock.

RPC Stock Up 0.1%

Shares of RPC stock traded up $0.01 on Tuesday, hitting $4.78. 733,801 shares of the company traded hands, compared to its average volume of 1,561,925. The company has a 50-day moving average price of $4.76 and a 200 day moving average price of $4.96. 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 12-month low of $4.10 and a 12-month high of $7.22. The company has a market cap of $1.05 billion, a PE ratio of 18.37 and a beta of 0.89.

RPC (NYSE:RES - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The oil and gas company reported $0.08 EPS 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 for the quarter, compared to analysts' expectations of $421.08 million. During the same quarter in the prior year, the firm earned $0.15 earnings per share. The company's revenue was up 15.5% on a year-over-year basis. Sell-side analysts predict that RPC, Inc. will post 0.31 earnings per share for the current year.

RPC Announces Dividend

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

Analyst Upgrades and Downgrades

RES has been the topic of several research reports. Susquehanna dropped their price target on RPC from $5.50 to $5.00 and set a "neutral" rating on the stock in a report on Friday, July 25th. Piper Sandler dropped their price target on RPC from $5.00 to $4.00 and set an "underweight" rating on the stock in a report on Thursday, August 14th. Finally, Stifel Nicolaus dropped their price target on RPC from $6.00 to $5.00 and set a "hold" rating on the stock in a report on Wednesday, July 16th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus target price 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.