RPC, Inc. $RES Shares Acquired by First Eagle Investment Management LLC

First Eagle Investment Management LLC lifted its position in RPC, Inc. (NYSE:RES) by 4.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 328,149 shares of the oil and gas company’s stock after acquiring an additional 13,000 shares during the period. First Eagle Investment Management LLC owned 0.15% of RPC worth $1,552,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in RPC during the 2nd quarter valued at about $47,000. State of Wyoming purchased a new stake in RPC in the first quarter valued at approximately $53,000. Annis Gardner Whiting Capital Advisors LLC acquired a new position in RPC in the 1st quarter worth approximately $64,000. Teacher Retirement System of Texas acquired a new position in RPC in the 1st quarter worth approximately $69,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in RPC during the 2nd quarter worth approximately $69,000. Hedge funds and other institutional investors own 41.06% of the company’s stock.

RPC Stock Up 1.0%

RES stock opened at $5.49 on Monday. RPC, Inc. has a 52 week low of $4.10 and a 52 week high of $7.17. The company has a quick ratio of 2.16, a current ratio of 2.64 and a debt-to-equity ratio of 0.03. The firm has a 50-day simple moving average of $4.75 and a 200-day simple moving average of $4.77. The stock has a market capitalization of $1.21 billion, a P/E ratio of 21.10 and a beta of 0.80.

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

RPC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Monday, November 10th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 2.9%. The ex-dividend date is Monday, November 10th. RPC’s payout ratio is presently 69.57%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Piper Sandler dropped their price objective on shares of RPC from $5.00 to $4.00 and set an “underweight” rating on the stock in a report on Thursday, August 14th. Susquehanna lowered their price target on shares of RPC from $5.50 to $5.00 and set a “neutral” rating on the stock in a report on Friday, July 25th. Weiss Ratings reiterated a “sell (d+)” rating on shares of RPC in a research note on Wednesday, October 8th. Stifel Nicolaus decreased their price objective on RPC from $6.00 to $5.00 and set a “hold” rating for the company in a report on Wednesday, July 16th. Finally, Wall Street Zen raised RPC from a “hold” rating to a “buy” rating in a report on Saturday. Three investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, RPC presently has an average rating of “Reduce” and a consensus price target of $4.69.

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.