OppenheimerFunds Inc. boosted its position in RPC, Inc. (NYSE:RES) by 13.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,014,400 shares of the oil and gas company’s stock after buying an additional 121,280 shares during the period. OppenheimerFunds Inc. owned 0.47% of RPC worth $18,574,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently made changes to their positions in RES. Russell Investments Group Ltd. purchased a new stake in shares of RPC during the fourth quarter worth approximately $1,536,000. State Street Corp increased its stake in shares of RPC by 5.4% in the fourth quarter. State Street Corp now owns 1,272,632 shares of the oil and gas company’s stock worth $25,211,000 after buying an additional 64,684 shares in the last quarter. Federated Investors Inc. PA increased its stake in shares of RPC by 52.1% in the fourth quarter. Federated Investors Inc. PA now owns 23,005 shares of the oil and gas company’s stock worth $456,000 after buying an additional 7,881 shares in the last quarter. Trexquant Investment LP increased its stake in shares of RPC by 41.3% in the fourth quarter. Trexquant Investment LP now owns 40,200 shares of the oil and gas company’s stock worth $796,000 after buying an additional 11,746 shares in the last quarter. Finally, Elkfork Partners LLC purchased a new stake in shares of RPC during the fourth quarter worth approximately $164,000. Institutional investors own 40.01% of the company’s stock.
RPC, Inc. (NYSE RES) traded up 3.70% during midday trading on Friday, reaching $21.01. The company had a trading volume of 1,575,070 shares. The stock’s market cap is $4.58 billion. RPC, Inc. has a 12 month low of $13.49 and a 12 month high of $23.36. The firm has a 50-day moving average of $19.08 and a 200-day moving average of $19.74.
RPC (NYSE:RES) last announced its quarterly earnings results on Wednesday, April 26th. The oil and gas company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.04. The company had revenue of $298.12 million during the quarter, compared to the consensus estimate of $273.35 million. RPC had a negative net margin of 12.54% and a negative return on equity of 12.86%. The company’s revenue for the quarter was up 57.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.15) earnings per share. On average, equities analysts expect that RPC, Inc. will post $0.58 EPS for the current fiscal year.
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RES has been the subject of a number of research reports. Susquehanna Bancshares Inc initiated coverage on RPC in a research report on Wednesday, February 22nd. They issued a “neutral” rating and a $23.00 price objective for the company. Zacks Investment Research downgraded RPC from a “buy” rating to a “hold” rating in a research report on Friday, March 10th. FBR & Co reiterated a “buy” rating and issued a $24.00 price objective on shares of RPC in a research report on Sunday, March 12th. Tudor Pickering initiated coverage on RPC in a research report on Thursday, March 23rd. They issued a “buy” rating for the company. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $26.00 price objective on shares of RPC in a research report on Thursday, April 6th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $23.00.
RPC Company Profile
RPC, Inc (RPC) is a holding company for several oilfield services companies. The Company provides a range of specialized oilfield services and equipment primarily to independent oil and gas companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the southwest, mid-continent, Gulf of Mexico, Rocky Mountain and Appalachian regions, and in selected international markets.
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