American Century Companies Inc. Raises Holdings in RPC, Inc. $RES

American Century Companies Inc. increased its stake in shares of RPC, Inc. (NYSE:RES) by 7.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,651,829 shares of the oil and gas company’s stock after acquiring an additional 263,022 shares during the period. American Century Companies Inc.’s holdings in RPC were worth $17,273,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of RES. Gabelli Funds LLC boosted its position in RPC by 0.3% in the 1st quarter. Gabelli Funds LLC now owns 2,269,415 shares of the oil and gas company’s stock worth $12,482,000 after purchasing an additional 6,938 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of RPC by 4.1% in the 2nd quarter. Geode Capital Management LLC now owns 2,078,778 shares of the oil and gas company’s stock valued at $9,834,000 after purchasing an additional 82,457 shares during the period. Charles Schwab Investment Management Inc. boosted 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 in the last quarter. Bank of New York Mellon Corp boosted its holdings in RPC by 1.4% during the second quarter. Bank of New York Mellon Corp now owns 1,692,483 shares of the oil and gas company’s stock worth $8,005,000 after buying an additional 23,408 shares in the last quarter. Finally, Bridgeway Capital Management LLC grew its position in RPC by 1.1% during the first quarter. Bridgeway Capital Management LLC now owns 1,684,972 shares of the oil and gas company’s stock valued at $9,267,000 after buying an additional 19,014 shares during the period. 41.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on RES shares. Weiss Ratings reiterated a “hold (c-)” rating on shares of RPC in a research report on Monday. Wall Street Zen upgraded RPC from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Piper Sandler reduced their price target on RPC from $5.00 to $4.00 and set an “underweight” rating for the company in a report on Thursday, August 14th. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $4.69.

RPC Price Performance

RPC stock opened at $5.41 on Wednesday. RPC, Inc. has a 12-month low of $4.10 and a 12-month high of $7.17. The stock has a market cap of $1.19 billion, a P/E ratio of 20.79 and a beta of 0.80. The company has a 50-day moving average price of $4.99 and a 200 day moving average price of $4.82. The company has a current ratio of 2.64, a quick ratio of 2.16 and a debt-to-equity ratio of 0.03.

RPC (NYSE:RES) last posted its earnings results on Wednesday, November 16th. The oil and gas company reported $0.02 earnings per share for the quarter. RPC had a net margin of 3.77% and a return on equity of 5.65%. The company had revenue of $225.31 million for the quarter. Sell-side analysts anticipate that RPC, Inc. will post 0.31 earnings per share for the current year.

RPC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Monday, November 10th will be issued a $0.04 dividend. The ex-dividend date is Monday, November 10th. This represents a $0.16 dividend on an annualized basis and a yield of 3.0%. RPC’s dividend payout ratio is currently 69.57%.

RPC Company 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.