Charles Schwab Investment Management Inc. Purchases 153,518 Shares of RPC, Inc. (NYSE:RES)

Charles Schwab Investment Management Inc. raised its holdings in shares of RPC, Inc. (NYSE:RESFree Report) by 12.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,401,619 shares of the oil and gas company’s stock after acquiring an additional 153,518 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.65% of RPC worth $10,204,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Pacer Advisors Inc. raised its holdings in RPC by 274.1% during the fourth quarter. Pacer Advisors Inc. now owns 8,277,488 shares of the oil and gas company’s stock worth $60,260,000 after acquiring an additional 6,064,627 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of RPC by 48.2% in the 3rd quarter. Invesco Ltd. now owns 1,507,687 shares of the oil and gas company’s stock valued at $13,479,000 after buying an additional 490,538 shares during the last quarter. American Century Companies Inc. grew its stake in shares of RPC by 41.4% in the third quarter. American Century Companies Inc. now owns 761,195 shares of the oil and gas company’s stock valued at $6,805,000 after buying an additional 222,888 shares in the last quarter. Glenorchy Capital Ltd acquired a new position in RPC during the fourth quarter worth $925,000. Finally, Jupiter Asset Management Ltd. raised its position in RPC by 148.9% during the third quarter. Jupiter Asset Management Ltd. now owns 186,008 shares of the oil and gas company’s stock worth $1,663,000 after acquiring an additional 111,273 shares in the last quarter. 41.06% of the stock is currently owned by institutional investors and hedge funds.

RPC Trading Down 0.9 %

RPC stock opened at $6.60 on Friday. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 9.43 and a beta of 1.65. RPC, Inc. has a 12 month low of $6.34 and a 12 month high of $9.41. The stock’s 50 day moving average is $7.34 and its 200-day moving average is $7.26.

RPC (NYSE:RESGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The oil and gas company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). RPC had a return on equity of 15.02% and a net margin of 9.95%. The firm had revenue of $377.80 million for the quarter, compared to analyst estimates of $393.33 million. During the same quarter in the previous year, the company earned $0.39 earnings per share. The company’s quarterly revenue was down 20.7% on a year-over-year basis. As a group, equities research analysts predict that RPC, Inc. will post 0.71 earnings per share for the current fiscal year.

RPC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 2.42%. The ex-dividend date of this dividend is Thursday, May 9th. RPC’s payout ratio is presently 22.86%.

Wall Street Analyst Weigh In

Separately, Susquehanna decreased their price objective on shares of RPC from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Friday, April 26th.

View Our Latest Stock Report on RES

RPC Profile

(Free Report)

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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Institutional Ownership by Quarter for RPC (NYSE:RES)

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