Jupiter Asset Management Ltd. Grows Position in RPC, Inc. (NYSE:RES)

Jupiter Asset Management Ltd. increased its holdings in shares of RPC, Inc. (NYSE:RESFree Report) by 148.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 186,008 shares of the oil and gas company’s stock after acquiring an additional 111,273 shares during the period. Jupiter Asset Management Ltd. owned about 0.09% of RPC worth $1,663,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Credit Suisse AG raised its position in RPC by 2.1% during the 3rd quarter. Credit Suisse AG now owns 51,753 shares of the oil and gas company’s stock valued at $358,000 after purchasing an additional 1,086 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its position in RPC by 5.7% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 27,027 shares of the oil and gas company’s stock valued at $193,000 after purchasing an additional 1,461 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in RPC by 13.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,054 shares of the oil and gas company’s stock valued at $116,000 after purchasing an additional 1,540 shares in the last quarter. Captrust Financial Advisors raised its position in RPC by 20.6% during the 1st quarter. Captrust Financial Advisors now owns 9,037 shares of the oil and gas company’s stock valued at $96,000 after purchasing an additional 1,545 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in RPC by 7.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 22,901 shares of the oil and gas company’s stock valued at $205,000 after purchasing an additional 1,548 shares in the last quarter. 36.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Citigroup lifted their target price on RPC from $7.00 to $8.00 and gave the company a “sell” rating in a research report on Thursday, October 26th.

Get Our Latest Report on RES

RPC Trading Down 0.6 %

Shares of NYSE:RES opened at $6.94 on Friday. RPC, Inc. has a 12-month low of $6.34 and a 12-month high of $9.98. The business’s fifty day simple moving average is $7.08 and its 200-day simple moving average is $7.83. The company has a market capitalization of $1.50 billion, a PE ratio of 7.71 and a beta of 1.61.

RPC (NYSE:RESGet Free Report) last announced its quarterly earnings results on Thursday, January 25th. The oil and gas company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. RPC had a return on equity of 21.26% and a net margin of 12.06%. The business had revenue of $394.50 million for the quarter, compared to the consensus estimate of $374.22 million. During the same period last year, the business posted $0.41 EPS. The business’s revenue was down 18.2% compared to the same quarter last year. Research analysts predict that RPC, Inc. will post 0.88 EPS for the current year.

RPC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 11th. Stockholders of record on Friday, February 9th will be issued a $0.04 dividend. The ex-dividend date is Thursday, February 8th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.31%. RPC’s dividend payout ratio is presently 17.78%.

RPC Company Profile

(Free Report)

RPC, Inc, through its subsidiaries, 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. It 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.

See Also

Institutional Ownership by Quarter for RPC (NYSE:RES)

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