Energy Opportunities Capital Management LLC Has $3.25 Million Stake in RPC, Inc. (RES)

Energy Opportunities Capital Management LLC trimmed its holdings in RPC, Inc. (NYSE:RES) by 9.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 127,092 shares of the oil and gas company’s stock after selling 12,720 shares during the period. RPC accounts for 2.2% of Energy Opportunities Capital Management LLC’s holdings, making the stock its 16th largest position. Energy Opportunities Capital Management LLC owned 0.06% of RPC worth $3,245,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Eagle Boston Investment Management Inc. raised its position in shares of RPC by 6.7% in the fourth quarter. Eagle Boston Investment Management Inc. now owns 334,027 shares of the oil and gas company’s stock valued at $8,527,000 after buying an additional 21,000 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of RPC by 9.9% in the fourth quarter. Wells Fargo & Company MN now owns 92,283 shares of the oil and gas company’s stock valued at $2,355,000 after buying an additional 8,347 shares in the last quarter. First Trust Advisors LP raised its position in shares of RPC by 109.5% in the fourth quarter. First Trust Advisors LP now owns 322,447 shares of the oil and gas company’s stock valued at $8,232,000 after buying an additional 168,570 shares in the last quarter. Sei Investments Co. raised its position in shares of RPC by 26.6% in the fourth quarter. Sei Investments Co. now owns 226,106 shares of the oil and gas company’s stock valued at $5,772,000 after buying an additional 47,490 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of RPC by 3.4% in the fourth quarter. Swiss National Bank now owns 111,100 shares of the oil and gas company’s stock valued at $2,836,000 after buying an additional 3,700 shares in the last quarter. Institutional investors own 37.43% of the company’s stock.

Several research analysts have commented on the stock. B. Riley restated a “buy” rating on shares of RPC in a research report on Wednesday, November 1st. Wells Fargo & Co lowered their price objective on shares of RPC from $27.00 to $25.00 and set a “market perform” rating for the company in a research report on Thursday, January 25th. Credit Suisse Group lowered their price objective on shares of RPC from $25.00 to $21.00 and set a “neutral” rating for the company in a research report on Thursday, January 25th. Cowen set a $28.00 price objective on shares of RPC and gave the company a “hold” rating in a research report on Thursday, January 11th. Finally, BMO Capital Markets lowered their price objective on shares of RPC from $29.00 to $27.00 and set an “outperform” rating for the company in a research report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. RPC currently has a consensus rating of “Hold” and a consensus price target of $24.75.

Shares of RPC, Inc. (NYSE RES) opened at $18.44 on Friday. The firm has a market cap of $4,071.81, a price-to-earnings ratio of 28.06, a price-to-earnings-growth ratio of 0.64 and a beta of 0.73. RPC, Inc. has a one year low of $16.63 and a one year high of $27.07.

RPC (NYSE:RES) last posted its earnings results on Wednesday, January 24th. The oil and gas company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.16). The company had revenue of $427.30 million for the quarter, compared to the consensus estimate of $515.04 million. RPC had a return on equity of 17.23% and a net margin of 10.19%. The business’s quarterly revenue was up 93.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.10) EPS. equities analysts predict that RPC, Inc. will post 1.64 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 9th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Thursday, February 8th. This is a boost from RPC’s previous quarterly dividend of $0.07. RPC’s payout ratio is presently 53.33%.

RPC announced that its board has authorized a share repurchase program on Monday, February 12th that authorizes the company to buyback 10,000,000 outstanding shares. This buyback authorization authorizes the oil and gas company to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

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RPC Company Profile

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.

Institutional Ownership by Quarter for RPC (NYSE:RES)

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