Exchange Traded Concepts LLC Has $1.21 Million Stock Holdings in RPC, Inc. $RES

Exchange Traded Concepts LLC boosted its holdings in shares of RPC, Inc. (NYSE:RES - Free Report) by 30.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 256,291 shares of the oil and gas company's stock after buying an additional 59,216 shares during the period. Exchange Traded Concepts LLC owned approximately 0.12% of RPC worth $1,212,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. American Century Companies Inc. raised 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 raised 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. raised 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 grew its stake in shares of RPC by 1.1% in the 1st quarter. Bridgeway Capital Management LLC now owns 1,684,972 shares of the oil and gas company's stock worth $9,267,000 after acquiring an additional 19,014 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its stake in shares of RPC by 1.1% in the 1st 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 acquiring an additional 16,470 shares in the last quarter. Institutional investors and hedge funds own 41.06% of the company's stock.

Wall Street Analyst Weigh In

RES has been the subject of several recent analyst reports. 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. 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, 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. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus price target of $4.69.

RPC Trading Up 0.4%

Shares of RES opened at $4.53 on Tuesday. The firm's 50 day simple moving average is $4.64 and its 200 day simple moving average is $4.85. The company has a market capitalization of $999.18 million, a P/E ratio of 17.42 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. RPC, Inc. has a 1-year low of $4.10 and a 1-year high of $7.22.

RPC (NYSE:RES - Get Free Report) last announced its earnings results 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 company had revenue of $420.81 million during the quarter, compared to analysts' expectations of $421.08 million. RPC had a net margin of 3.77% and a return on equity of 5.65%. The company's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.15 earnings per share. Sell-side analysts forecast that RPC, Inc. will post 0.31 earnings per share for the current fiscal year.

RPC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Monday, August 11th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $0.16 annualized dividend and a dividend yield of 3.5%. RPC's dividend payout ratio (DPR) is 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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