Texas Permanent School Fund Corp Has $1 Million Stock Holdings in RPC, Inc. (NYSE:RES)

Texas Permanent School Fund Corp lifted its position in shares of RPC, Inc. (NYSE:RES) by 115.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 160,197 shares of the oil and gas company’s stock after buying an additional 85,738 shares during the quarter. Texas Permanent School Fund Corp owned about 0.07% of RPC worth $1,001,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of RES. Bridge City Capital LLC increased its position in RPC by 0.8% during the first quarter. Bridge City Capital LLC now owns 240,187 shares of the oil and gas company’s stock worth $1,859,000 after acquiring an additional 1,851 shares during the period. Swiss National Bank boosted its holdings in RPC by 1.4% in the 1st quarter. Swiss National Bank now owns 192,000 shares of the oil and gas company’s stock valued at $1,486,000 after purchasing an additional 2,600 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of RPC by 17.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,393 shares of the oil and gas company’s stock worth $189,000 after purchasing an additional 3,650 shares in the last quarter. CWM LLC increased its holdings in shares of RPC by 256.5% during the second quarter. CWM LLC now owns 5,112 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 3,678 shares during the period. Finally, Register Financial Advisors LLC acquired a new stake in shares of RPC in the first quarter valued at approximately $39,000. Institutional investors own 41.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on RES shares. Susquehanna reduced their price target on RPC from $7.00 to $6.50 and set a “neutral” rating on the stock in a research report on Thursday, July 11th. Stifel Nicolaus cut their target price on RPC from $8.00 to $7.00 and set a “hold” rating for the company in a research report on Tuesday, July 16th. Finally, Citigroup decreased their price target on RPC from $6.75 to $5.25 and set a “sell” rating on the stock in a research report on Wednesday, July 10th.

RPC Trading Up 0.6 %

NYSE RES opened at $6.59 on Friday. The firm’s 50 day simple moving average is $6.33 and its 200 day simple moving average is $6.78. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 9.41 and a beta of 1.56. RPC, Inc. has a 1 year low of $5.66 and a 1 year high of $9.41.

RPC (NYSE:RES) last issued its earnings results on Thursday, July 25th. The oil and gas company reported $0.15 earnings per share 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 for the quarter, compared to the consensus estimate of $381.18 million. During the same quarter last year, the business posted $0.30 EPS. The company’s revenue was down 12.4% compared to the same quarter last year. On average, equities research analysts forecast that RPC, Inc. will post 0.56 earnings per share for the current year.

RPC Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date was Friday, August 9th. RPC’s dividend payout ratio is presently 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.