103,253 Shares in RPC, Inc. $RES Bought by Allianz Asset Management GmbH

Allianz Asset Management GmbH acquired a new stake in shares of RPC, Inc. (NYSE:RES) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 103,253 shares of the oil and gas company’s stock, valued at approximately $491,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RES. Carolina Wealth Advisors LLC increased its holdings in shares of RPC by 7,851.8% during the third quarter. Carolina Wealth Advisors LLC now owns 1,277,544 shares of the oil and gas company’s stock valued at $6,081,000 after acquiring an additional 1,261,478 shares in the last quarter. Congress Asset Management Co. bought a new position in shares of RPC in the 3rd quarter worth approximately $5,959,000. Brandywine Global Investment Management LLC bought a new stake in shares of RPC during the 2nd quarter valued at $4,465,000. Arrowstreet Capital Limited Partnership increased its position in RPC by 31.5% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,800,246 shares of the oil and gas company’s stock worth $13,245,000 after buying an additional 670,432 shares in the last quarter. Finally, Cresset Asset Management LLC raised its stake in RPC by 1,518.8% during the 2nd quarter. Cresset Asset Management LLC now owns 325,375 shares of the oil and gas company’s stock worth $1,539,000 after acquiring an additional 305,275 shares during the period. Hedge funds and other institutional investors own 41.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Susquehanna boosted their price target on RPC from $5.50 to $6.00 and gave the stock a “neutral” rating in a report on Wednesday, January 7th. Citigroup raised their price objective on RPC from $5.75 to $6.00 and gave the company a “neutral” rating in a research note on Thursday, December 11th. Piper Sandler reaffirmed an “underweight” rating on shares of RPC in a research note on Thursday, December 18th. Wall Street Zen lowered RPC from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of RPC in a research note on Monday, December 29th. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, RPC has an average rating of “Reduce” and an average price target of $5.25.

RPC Stock Performance

RES opened at $5.82 on Friday. The company has a quick ratio of 2.70, a current ratio of 3.24 and a debt-to-equity ratio of 0.03. RPC, Inc. has a 52-week low of $4.10 and a 52-week high of $6.85. The firm’s 50-day moving average price is $5.86 and its 200-day moving average price is $5.20. The company has a market cap of $1.28 billion, a P/E ratio of 38.77 and a beta of 0.72.

RPC (NYSE:RES) last released its quarterly earnings data on Tuesday, February 3rd. The oil and gas company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). RPC had a net margin of 1.97% and a return on equity of 5.24%. The business had revenue of $425.78 million during the quarter, compared to analyst estimates of $423.30 million. During the same quarter in the prior year, the company posted $0.06 earnings per share. The company’s revenue was up 26.9% on a year-over-year basis. As a group, equities analysts anticipate that RPC, Inc. will post 0.31 EPS for the current fiscal year.

RPC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 10th. Shareholders of record on Tuesday, February 10th will be given a $0.04 dividend. The ex-dividend date of this dividend is Tuesday, February 10th. This represents a $0.16 dividend on an annualized basis and a yield of 2.8%. RPC’s payout ratio is presently 106.67%.

RPC Company 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.