Vanguard Personalized Indexing Management LLC Purchases 4,136 Shares of RPC, Inc. (NYSE:RES)

Vanguard Personalized Indexing Management LLC boosted its position in RPC, Inc. (NYSE:RES) by 38.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,821 shares of the oil and gas company’s stock after buying an additional 4,136 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in RPC were worth $93,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position in RPC by 7.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 10,456,497 shares of the oil and gas company’s stock valued at $65,353,000 after buying an additional 769,578 shares in the last quarter. Van ECK Associates Corp boosted its stake in RPC by 0.7% during the 1st quarter. Van ECK Associates Corp now owns 2,998,405 shares of the oil and gas company’s stock valued at $23,207,000 after purchasing an additional 19,702 shares during the last quarter. American Century Companies Inc. boosted its stake in RPC by 24.1% during the 2nd quarter. American Century Companies Inc. now owns 2,236,307 shares of the oil and gas company’s stock valued at $13,977,000 after purchasing an additional 434,849 shares during the last quarter. Victory Capital Management Inc. boosted its stake in RPC by 48.7% during the 2nd quarter. Victory Capital Management Inc. now owns 2,004,789 shares of the oil and gas company’s stock valued at $12,530,000 after purchasing an additional 656,446 shares during the last quarter. Finally, Empowered Funds LLC boosted its stake in RPC by 31.9% during the 1st quarter. Empowered Funds LLC now owns 777,986 shares of the oil and gas company’s stock valued at $6,022,000 after purchasing an additional 188,377 shares during the last quarter. 41.06% of the stock is owned by institutional investors.

RPC Stock Up 1.2 %

Shares of NYSE RES opened at $6.37 on Tuesday. RPC, Inc. has a twelve month low of $5.66 and a twelve month high of $9.26. The stock’s 50 day moving average price is $6.38 and its 200-day moving average price is $6.72. The company has a market capitalization of $1.37 billion, a PE ratio of 9.09 and a beta of 1.56.

RPC (NYSE:RES) last announced its earnings results on Thursday, July 25th. The oil and gas company reported $0.15 earnings per share for the quarter, topping 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 in the previous year, the business earned $0.30 EPS. The company’s revenue was down 12.4% compared to the same quarter last year. As a group, research analysts expect that RPC, Inc. will post 0.56 EPS for the current fiscal year.

RPC Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were paid a $0.04 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.51%. RPC’s payout ratio is presently 22.86%.

Wall Street Analysts Forecast Growth

RES has been the subject of a number of analyst reports. Stifel Nicolaus cut their price target on RPC from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Tuesday, July 16th. Susquehanna cut their price target 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 cut their price target on RPC from $6.75 to $5.25 and set a “sell” rating for the company in a research note on Wednesday, July 10th.

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.