Wells Fargo & Company MN Grows Stock Holdings in RPC, Inc. (NYSE:RES)

Wells Fargo & Company MN raised its stake in RPC, Inc. (NYSE:RES) by 219.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 113,164 shares of the oil and gas company’s stock after buying an additional 77,762 shares during the period. Wells Fargo & Company MN’s holdings in RPC were worth $816,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP boosted its position in RPC by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,738,161 shares of the oil and gas company’s stock valued at $17,156,000 after buying an additional 13,560 shares during the period. First Trust Advisors LP boosted its position in RPC by 3.1% in the 1st quarter. First Trust Advisors LP now owns 1,158,663 shares of the oil and gas company’s stock valued at $13,220,000 after buying an additional 35,006 shares during the period. Federated Investors Inc. PA boosted its position in RPC by 10.0% in the 1st quarter. Federated Investors Inc. PA now owns 443,714 shares of the oil and gas company’s stock valued at $5,063,000 after buying an additional 40,413 shares during the period. New York State Common Retirement Fund boosted its position in RPC by 19.3% in the 1st quarter. New York State Common Retirement Fund now owns 430,653 shares of the oil and gas company’s stock valued at $4,914,000 after buying an additional 69,660 shares during the period. Finally, Swiss National Bank boosted its position in RPC by 2.0% in the 2nd quarter. Swiss National Bank now owns 119,900 shares of the oil and gas company’s stock valued at $864,000 after buying an additional 2,400 shares during the period. 33.78% of the stock is owned by institutional investors.

Shares of NYSE RES traded up $0.10 during trading hours on Thursday, hitting $5.28. 57,181 shares of the stock were exchanged, compared to its average volume of 2,640,042. The company has a quick ratio of 2.45, a current ratio of 3.13 and a debt-to-equity ratio of 0.03. The company has a market cap of $1.10 billion, a PE ratio of 6.43, a PEG ratio of 377.46 and a beta of 1.09. The firm has a fifty day moving average price of $5.58 and a 200-day moving average price of $7.89. RPC, Inc. has a 12 month low of $4.88 and a 12 month high of $17.24.

RPC (NYSE:RES) last posted its quarterly earnings data on Wednesday, July 24th. The oil and gas company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The firm had revenue of $358.50 million for the quarter, compared to the consensus estimate of $362.40 million. RPC had a return on equity of 6.37% and a net margin of 4.55%. The company’s revenue was down 23.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.28 EPS.

Several brokerages have recently weighed in on RES. Morgan Stanley lowered their price target on shares of RPC from $15.00 to $10.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Gabelli cut shares of RPC from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Citigroup lowered their price target on shares of RPC from $5.50 to $5.00 and set a “sell” rating for the company in a research report on Monday, September 23rd. ValuEngine raised shares of RPC from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, Barclays lowered their price target on shares of RPC from $5.50 to $5.00 and set an “underweight” rating for the company in a research report on Monday. Eight equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $10.31.

RPC Profile

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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Institutional Ownership by Quarter for RPC (NYSE:RES)

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