RPC, Inc. $RES Shares Sold by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL reduced its position in RPC, Inc. (NYSE:RES) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,941,346 shares of the oil and gas company’s stock after selling 119,500 shares during the quarter. Gamco Investors INC. ET AL’s holdings in RPC were worth $16,001,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its stake in RPC by 8.4% in the 3rd quarter. American Century Companies Inc. now owns 3,960,190 shares of the oil and gas company’s stock valued at $18,851,000 after purchasing an additional 308,361 shares during the last quarter. Van ECK Associates Corp raised its stake in RPC by 14.6% in the 3rd quarter. Van ECK Associates Corp now owns 2,219,973 shares of the oil and gas company’s stock valued at $10,567,000 after purchasing an additional 283,213 shares during the last quarter. Bridgeway Capital Management LLC raised its stake in RPC by 0.7% in the 3rd quarter. Bridgeway Capital Management LLC now owns 1,539,049 shares of the oil and gas company’s stock valued at $7,326,000 after purchasing an additional 9,991 shares during the last quarter. UBS Group AG raised its stake in RPC by 134.3% in the 3rd quarter. UBS Group AG now owns 1,499,425 shares of the oil and gas company’s stock valued at $7,137,000 after purchasing an additional 859,406 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in RPC by 44.0% in the 3rd quarter. Bank of America Corp DE now owns 1,388,128 shares of the oil and gas company’s stock valued at $6,607,000 after purchasing an additional 424,104 shares during the last quarter. 41.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on RES. Wall Street Zen downgraded RPC from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RPC in a research note on Tuesday, April 14th. Finally, Susquehanna raised their target price on RPC from $7.00 to $7.50 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $5.63.

RPC Stock Up 2.1%

Shares of RES opened at $7.07 on Tuesday. RPC, Inc. has a 52-week low of $4.18 and a 52-week high of $8.16. The company has a market capitalization of $1.57 billion, a PE ratio of 78.50 and a beta of 0.69. The stock has a fifty day simple moving average of $7.01 and a two-hundred day simple moving average of $6.18. The company has a quick ratio of 2.61, a current ratio of 3.13 and a debt-to-equity ratio of 0.03.

RPC (NYSE:RES) last issued its earnings results on Thursday, May 7th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. RPC had a return on equity of 4.82% and a net margin of 1.20%.The business had revenue of $454.76 million during the quarter, compared to the consensus estimate of $406.68 million. During the same period last year, the company earned $0.06 EPS. The company’s revenue for the quarter was up 36.6% on a year-over-year basis. As a group, equities analysts forecast that RPC, Inc. will post 0.18 EPS for the current year.

RPC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 10th. Shareholders of record on Monday, May 11th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Monday, May 11th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.3%. RPC’s dividend payout ratio (DPR) is 177.78%.

RPC Profile

RPC, Inc (NYSE: RES) provides essential equipment and services to companies engaged in the exploration, production and maintenance of oil and natural gas wells. The firm operates as an equity interest holding company, partnering with a network of independent service businesses to deliver a comprehensive suite of offerings for well completion and production operations.

Through its affiliated service companies, RPC offers pressure pumping and fracturing services, coiled tubing and nitrogen pumping, downhole tools and telemetry solutions, well intervention and workover services, along with rental tools and supply-chain logistics.