Royce & Associates LP Has $22.80 Million Holdings in RPC, Inc. (RES)

Royce & Associates LP raised its position in RPC, Inc. (NYSE:RES) by 25.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,473,091 shares of the oil and gas company’s stock after buying an additional 302,200 shares during the period. Royce & Associates LP owned approximately 0.69% of RPC worth $22,803,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Royal Bank of Canada lifted its position in shares of RPC by 267.6% during the first quarter. Royal Bank of Canada now owns 12,375 shares of the oil and gas company’s stock worth $224,000 after purchasing an additional 19,760 shares during the last quarter. Comerica Bank lifted its position in shares of RPC by 19.7% during the second quarter. Comerica Bank now owns 150,751 shares of the oil and gas company’s stock worth $2,257,000 after purchasing an additional 24,858 shares during the last quarter. Engineers Gate Manager LP bought a new position in shares of RPC during the second quarter worth about $3,862,000. Mackay Shields LLC bought a new position in shares of RPC during the second quarter worth about $1,827,000. Finally, SG Americas Securities LLC bought a new position in shares of RPC during the second quarter worth about $1,646,000. 32.06% of the stock is owned by institutional investors.

Shares of NYSE RES opened at $13.08 on Friday. The company has a current ratio of 3.74, a quick ratio of 3.01 and a debt-to-equity ratio of 0.01. RPC, Inc. has a 52-week low of $12.86 and a 52-week high of $27.07. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 19.82, a price-to-earnings-growth ratio of 0.86 and a beta of 0.70.

RPC (NYSE:RES) last issued its earnings results on Wednesday, October 24th. The oil and gas company reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.04). RPC had a return on equity of 20.48% and a net margin of 12.40%. The business had revenue of $439.99 million during the quarter, compared to the consensus estimate of $456.54 million. During the same period in the prior year, the business earned $0.26 EPS. The business’s revenue was down 6.6% on a year-over-year basis. As a group, analysts anticipate that RPC, Inc. will post 0.84 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Shareholders of record on Friday, November 9th will be issued a $0.10 dividend. The ex-dividend date is Thursday, November 8th. This represents a $0.40 dividend on an annualized basis and a yield of 3.06%. RPC’s dividend payout ratio is currently 60.61%.

Several brokerages have recently commented on RES. Wolfe Research began coverage on shares of RPC in a research report on Wednesday, October 10th. They set an “underperform” rating on the stock. ValuEngine raised shares of RPC from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 2nd. Bank of America began coverage on shares of RPC in a research report on Wednesday, October 17th. They set a “neutral” rating on the stock. Morgan Stanley set a $14.00 price target on shares of RPC and gave the stock a “sell” rating in a research report on Thursday, October 11th. Finally, Zacks Investment Research raised shares of RPC from a “strong sell” rating to a “hold” rating in a research report on Friday, October 12th. Three equities research analysts have rated the stock with a sell rating and seventeen have issued a hold rating to the company’s stock. RPC presently has an average rating of “Hold” and a consensus price target of $17.35.

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RPC Company Profile

RPC, Inc provides 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 offers pressure pumping, fracturing, acidizing, 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.

Read More: Understanding Average Daily Trade Volume

Institutional Ownership by Quarter for RPC (NYSE:RES)

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