RPC, Inc. $RES Holdings Increased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP increased its position in shares of RPC, Inc. (NYSE:RES) by 7.6% during the first quarter, Holdings Channel.com reports. The fund owned 12,543,337 shares of the oil and gas company’s stock after acquiring an additional 883,118 shares during the quarter. Dimensional Fund Advisors LP owned 0.06% of RPC worth $88,809,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RES. State Street Corp lifted its position in shares of RPC by 6.1% in the fourth quarter. State Street Corp now owns 4,049,407 shares of the oil and gas company’s stock worth $22,029,000 after purchasing an additional 233,646 shares in the last quarter. IES Holdings Inc. bought a new stake in shares of RPC during the fourth quarter valued at approximately $14,144,000. Van ECK Associates Corp boosted its holdings in RPC by 13.0% during the fourth quarter. Van ECK Associates Corp now owns 2,508,890 shares of the oil and gas company’s stock valued at $13,648,000 after purchasing an additional 288,917 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in RPC by 103.2% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,882,657 shares of the oil and gas company’s stock valued at $10,242,000 after purchasing an additional 956,370 shares during the last quarter. Finally, Bridgeway Capital Management LLC raised its holdings in shares of RPC by 8.8% in the fourth quarter. Bridgeway Capital Management LLC now owns 1,675,024 shares of the oil and gas company’s stock valued at $9,112,000 after buying an additional 135,975 shares during the last quarter. Institutional investors and hedge funds own 41.06% of the company’s stock.

RPC Stock Down 0.5%

Shares of RES opened at $5.13 on Thursday. RPC, Inc. has a 12 month low of $4.18 and a 12 month high of $8.16. The stock’s 50-day moving average price is $6.27 and its two-hundred day moving average price is $6.48. The company has a market capitalization of $1.14 billion, a PE ratio of 57.06 and a beta of 0.64. The company has a current ratio of 3.13, a quick ratio of 2.61 and a debt-to-equity ratio of 0.03.

RPC (NYSE:RES) last released its earnings results on Thursday, May 7th. The oil and gas company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.02. The business had revenue of $454.75 million for the quarter, compared to analyst estimates of $406.68 million. RPC had a net margin of 1.20% and a return on equity of 4.82%. RPC’s revenue for the quarter was up 36.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.06 earnings per share. On average, analysts anticipate that RPC, Inc. will post 0.2 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on RES shares. Susquehanna reduced their price objective on shares of RPC from $7.50 to $6.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 8th. Weiss Ratings reissued a “hold (c)” rating on shares of RPC in a report on Friday, July 10th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $5.33.

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.