Geode Capital Management LLC lifted its position in RPC, Inc. (NYSE:RES) by 3.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 563,541 shares of the oil and gas company’s stock after acquiring an additional 21,068 shares during the quarter. Geode Capital Management LLC owned 0.26% of RPC worth $5,562,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in RES. Nisa Investment Advisors LLC lifted its holdings in shares of RPC by 243.8% in the 4th quarter. Nisa Investment Advisors LLC now owns 11,000 shares of the oil and gas company’s stock worth $109,000 after acquiring an additional 7,800 shares during the last quarter. LPL Financial LLC lifted its holdings in shares of RPC by 26.6% in the 4th quarter. LPL Financial LLC now owns 12,756 shares of the oil and gas company’s stock worth $126,000 after acquiring an additional 2,680 shares during the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of RPC by 85.8% in the 4th quarter. Great West Life Assurance Co. Can now owns 13,984 shares of the oil and gas company’s stock worth $129,000 after acquiring an additional 6,459 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of RPC by 31.0% in the 4th quarter. Raymond James & Associates now owns 13,130 shares of the oil and gas company’s stock worth $130,000 after acquiring an additional 3,110 shares during the last quarter. Finally, Martingale Asset Management L P bought a new stake in shares of RPC in the 3rd quarter worth about $202,000. Hedge funds and other institutional investors own 32.60% of the company’s stock.
In other RPC news, Director Pam R. Rollins purchased 10,000 shares of RPC stock in a transaction dated Thursday, January 31st. The stock was acquired at an average price of $10.85 per share, for a total transaction of $108,500.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 73.20% of the company’s stock.
NYSE:RES opened at $12.46 on Friday. RPC, Inc. has a one year low of $9.35 and a one year high of $20.18. The stock has a market capitalization of $2.68 billion, a PE ratio of 15.20, a price-to-earnings-growth ratio of 3.43 and a beta of 0.99.
RPC (NYSE:RES) last posted its quarterly earnings results on Wednesday, January 23rd. The oil and gas company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.04). RPC had a net margin of 10.19% and a return on equity of 17.63%. The business had revenue of $376.80 million during the quarter, compared to the consensus estimate of $385.48 million. During the same quarter in the prior year, the firm posted $0.18 EPS. The company’s revenue for the quarter was down 11.8% compared to the same quarter last year. On average, sell-side analysts expect that RPC, Inc. will post 0.3 earnings per share for the current year.
A number of brokerages recently weighed in on RES. ValuEngine upgraded shares of RPC from a “strong sell” rating to a “sell” rating in a report on Monday, April 1st. Zacks Investment Research upgraded shares of RPC from a “sell” rating to a “hold” rating in a report on Tuesday, February 26th. Morgan Stanley upgraded shares of RPC from an “underweight” rating to an “overweight” rating and lifted their price objective for the company from $11.00 to $15.00 in a report on Thursday, April 4th. Susquehanna Bancshares set a $13.00 price objective on shares of RPC and gave the company a “hold” rating in a report on Tuesday, April 2nd. Finally, Goldman Sachs Group began coverage on shares of RPC in a report on Sunday, March 10th. They set a “sell” rating and a $10.00 price objective for the company. Eight investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company. RPC has an average rating of “Hold” and a consensus target price of $12.69.
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RPC, Inc, through its subsidiaries, provides 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 offers pressure pumping, fracturing, acidizing, 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.
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