Tokio Marine Asset Management Co. Ltd. trimmed its holdings in RPC, Inc. (NYSE:RES) by 63.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,000 shares of the oil and gas company’s stock after selling 30,800 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in RPC were worth $460,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Zions Bancorporation acquired a new position in RPC in the third quarter valued at about $137,000. CENTRAL TRUST Co acquired a new position in RPC in the fourth quarter valued at about $147,000. State of Alaska Department of Revenue acquired a new position in RPC in the fourth quarter valued at about $147,000. The Manufacturers Life Insurance Company grew its stake in RPC by 7.6% in the second quarter. The Manufacturers Life Insurance Company now owns 6,514 shares of the oil and gas company’s stock valued at $132,000 after acquiring an additional 459 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in RPC by 52.8% in the third quarter. Envestnet Asset Management Inc. now owns 8,105 shares of the oil and gas company’s stock valued at $201,000 after acquiring an additional 2,800 shares during the period. 37.74% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts have issued reports on the company. B. Riley reissued a “buy” rating on shares of RPC in a research note on Wednesday, November 1st. Jefferies Group set a $25.00 target price on RPC and gave the company a “hold” rating in a research note on Thursday, October 26th. TheStreet raised RPC from a “c+” rating to a “b” rating in a research note on Wednesday, October 25th. Zacks Investment Research cut RPC from a “buy” rating to a “hold” rating in a research note on Saturday, October 28th. Finally, BMO Capital Markets decreased their target price on RPC from $29.00 to $27.00 and set an “outperform” rating for the company in a research note on Thursday, January 25th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. RPC presently has an average rating of “Hold” and an average price target of $24.75.
RPC (NYSE:RES) last issued its quarterly earnings results on Wednesday, January 24th. The oil and gas company reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.16). The firm had revenue of $427.30 million during the quarter, compared to the consensus estimate of $515.04 million. RPC had a net margin of 10.19% and a return on equity of 17.23%. The business’s revenue for the quarter was up 93.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.10) earnings per share. equities analysts forecast that RPC, Inc. will post 1.64 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Friday, February 9th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.26%. This is a positive change from RPC’s previous quarterly dividend of $0.07. The ex-dividend date is Thursday, February 8th. RPC’s payout ratio is 60.61%.
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RPC, Inc (RPC) is a holding company for several oilfield services companies. The Company provides a range of specialized oilfield services and equipment primarily to independent oil and gas companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the southwest, mid-continent, Gulf of Mexico, Rocky Mountain and Appalachian regions, and in selected international markets.
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