American Century Companies Inc. Boosts Position in RPC, Inc. $RES

American Century Companies Inc. raised its stake in RPC, Inc. (NYSE:RES) by 7.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,651,829 shares of the oil and gas company’s stock after buying an additional 263,022 shares during the period. American Century Companies Inc. owned about 1.66% of RPC worth $17,273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in RES. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of RPC during the second quarter valued at approximately $47,000. State of Wyoming purchased a new position in RPC during the 1st quarter worth $53,000. Annis Gardner Whiting Capital Advisors LLC bought a new stake in RPC during the 1st quarter valued at $64,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of RPC in the 2nd quarter worth $69,000. Finally, DRW Securities LLC bought a new position in shares of RPC during the 1st quarter worth $70,000. 41.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

RES has been the topic of several research reports. Wall Street Zen upgraded RPC from a “hold” rating to a “buy” rating in a research note on Saturday. Weiss Ratings reissued a “hold (c-)” rating on shares of RPC in a research report on Monday. Finally, Piper Sandler lowered their price target on shares of RPC from $5.00 to $4.00 and set an “underweight” rating for the company in a research report on Thursday, August 14th. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $4.69.

RPC Stock Up 0.5%

Shares of RES stock opened at $5.41 on Wednesday. RPC, Inc. has a fifty-two week low of $4.10 and a fifty-two week high of $7.17. The firm has a market capitalization of $1.19 billion, a PE ratio of 20.79 and a beta of 0.80. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.16 and a current ratio of 2.64. The stock’s 50-day simple moving average is $4.99 and its 200-day simple moving average is $4.82.

RPC (NYSE:RES) last released its earnings results on Wednesday, November 16th. The oil and gas company reported $0.02 EPS for the quarter. RPC had a return on equity of 5.65% and a net margin of 3.77%.The firm had revenue of $225.31 million during the quarter. Equities analysts expect that RPC, Inc. will post 0.31 earnings per share for the current year.

RPC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Monday, November 10th will be paid a $0.04 dividend. The ex-dividend date is Monday, November 10th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 3.0%. RPC’s dividend payout ratio is presently 69.57%.

About RPC

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.