RPC, Inc. (NYSE:RES) Stock Holdings Lifted by Creative Planning

Creative Planning grew its stake in shares of RPC, Inc. (NYSE:RES) by 876.5% in the second quarter, according to its most recent filing with the SEC. The fund owned 241,471 shares of the oil and gas company’s stock after acquiring an additional 216,742 shares during the period. Creative Planning owned about 0.11% of RPC worth $1,509,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of RES. CWM LLC boosted its position in shares of RPC by 256.5% in the 2nd quarter. CWM LLC now owns 5,112 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 3,678 shares during the period. Register Financial Advisors LLC acquired a new stake in shares of RPC during the first quarter valued at approximately $39,000. Innealta Capital LLC purchased a new stake in shares of RPC in the 2nd quarter valued at approximately $44,000. Syon Capital LLC purchased a new stake in shares of RPC in the 4th quarter valued at approximately $82,000. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in RPC by 38.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,821 shares of the oil and gas company’s stock worth $93,000 after purchasing an additional 4,136 shares during the period. 41.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RES has been the subject of a number of research analyst reports. Stifel Nicolaus reduced their target price on RPC from $8.00 to $7.00 and set a “hold” rating for the company in a report on Tuesday, July 16th. Susquehanna reduced their price objective on RPC from $7.00 to $6.50 and set a “neutral” rating for the company in a research note on Thursday, July 11th. Finally, Citigroup lowered their target price on RPC from $6.75 to $5.25 and set a “sell” rating on the stock in a research note on Wednesday, July 10th.

RPC Stock Down 2.4 %

RES stock opened at $6.97 on Wednesday. The company has a 50 day moving average of $6.40 and a two-hundred day moving average of $6.68. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 9.96 and a beta of 1.55. RPC, Inc. has a 12-month low of $5.66 and a 12-month high of $9.26.

RPC (NYSE:RES) last released its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. RPC had a return on equity of 11.52% and a net margin of 8.08%. The firm had revenue of $364.20 million during the quarter, compared to analysts’ expectations of $381.18 million. During the same quarter last year, the firm earned $0.30 earnings per share. The business’s revenue for the quarter was down 12.4% on a year-over-year basis. On average, research analysts anticipate that RPC, Inc. will post 0.56 EPS for the current year.

RPC Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a $0.04 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.16 annualized dividend and a dividend yield of 2.30%. RPC’s payout ratio is 22.86%.

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.