RPC, Inc. $RES Shares Acquired by American Century Companies Inc.

American Century Companies Inc. lifted its stake in shares of RPC, Inc. (NYSE:RES) by 8.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,960,190 shares of the oil and gas company’s stock after purchasing an additional 308,361 shares during the period. American Century Companies Inc. owned about 1.80% of RPC worth $18,851,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Arrowstreet Capital Limited Partnership increased its holdings in shares of RPC by 31.5% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,800,246 shares of the oil and gas company’s stock valued at $13,245,000 after acquiring an additional 670,432 shares during the last quarter. Geode Capital Management LLC increased its stake in RPC by 4.1% during the second quarter. Geode Capital Management LLC now owns 2,078,778 shares of the oil and gas company’s stock valued at $9,834,000 after purchasing an additional 82,457 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of RPC by 1.4% during the second quarter. Bank of New York Mellon Corp now owns 1,692,483 shares of the oil and gas company’s stock worth $8,005,000 after purchasing an additional 23,408 shares during the period. Carolina Wealth Advisors LLC raised 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 worth $6,081,000 after purchasing an additional 1,261,478 shares during the period. Finally, Congress Asset Management Co. bought a new position in shares of RPC in the 3rd quarter worth about $5,959,000. 41.06% of the stock is currently owned by institutional investors and hedge funds.

RPC Stock Performance

Shares of RES opened at $6.20 on Wednesday. The firm has a fifty day moving average of $5.99 and a 200-day moving average of $5.38. The company has a market cap of $1.37 billion, a price-to-earnings ratio of 41.30 and a beta of 0.69. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.70 and a current ratio of 3.24. RPC, Inc. has a 1 year low of $4.10 and a 1 year high of $6.85.

RPC (NYSE:RES) last released its quarterly earnings data on Tuesday, February 3rd. The oil and gas company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The firm had revenue of $425.78 million during the quarter, compared to analyst estimates of $423.30 million. RPC had a return on equity of 5.24% and a net margin of 1.97%.The firm’s revenue was up 26.9% on a year-over-year basis. During the same period last year, the business earned $0.06 EPS. As a group, equities analysts anticipate 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 was paid on Tuesday, March 10th. Investors of record on Tuesday, February 10th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Tuesday, February 10th. RPC’s dividend payout ratio is 106.67%.

Analyst Upgrades and Downgrades

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

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.