HB Wealth Management LLC Raises Stock Position in RPC, Inc. (NYSE:RES)

HB Wealth Management LLC grew its holdings in RPC, Inc. (NYSE:RES) by 12.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 32,280 shares of the oil and gas company’s stock after purchasing an additional 3,697 shares during the quarter. HB Wealth Management LLC’s holdings in RPC were worth $192,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in RES. Dimensional Fund Advisors LP grew its stake in shares of RPC by 7.9% in the second quarter. Dimensional Fund Advisors LP now owns 10,456,497 shares of the oil and gas company’s stock worth $65,353,000 after acquiring an additional 769,578 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position 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 valued at $93,000 after purchasing an additional 4,136 shares in the last quarter. Hsbc Holdings PLC boosted its stake in shares of RPC by 54.9% in the 2nd quarter. Hsbc Holdings PLC now owns 48,739 shares of the oil and gas company’s stock valued at $308,000 after buying an additional 17,273 shares during the period. Intech Investment Management LLC acquired a new position in shares of RPC during the second quarter worth about $267,000. Finally, Public Sector Pension Investment Board increased its stake in shares of RPC by 5.3% during the second quarter. Public Sector Pension Investment Board now owns 185,860 shares of the oil and gas company’s stock worth $1,162,000 after buying an additional 9,306 shares during the period. Institutional investors and hedge funds own 41.06% of the company’s stock.

RPC Stock Performance

Shares of RES stock opened at $6.76 on Friday. RPC, Inc. has a 1 year low of $5.54 and a 1 year high of $8.19. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 12.06 and a beta of 1.59. The stock’s 50-day moving average is $6.22 and its two-hundred day moving average is $6.29.

RPC (NYSE:RES) last announced its earnings results on Thursday, October 24th. The oil and gas company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). The business had revenue of $337.70 million during the quarter, compared to analyst estimates of $365.33 million. RPC had a net margin of 8.07% and a return on equity of 11.36%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.08 earnings per share. As a group, research analysts predict that RPC, Inc. will post 0.43 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on RES shares. Stifel Nicolaus reduced their price objective on shares of RPC from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Friday, October 11th. Susquehanna decreased their price target on RPC from $6.50 to $6.00 and set a “neutral” rating for the company in a report on Friday, October 25th.

RPC 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.