Creative Planning Acquires 216,742 Shares of RPC, Inc. (NYSE:RES)

Creative Planning boosted its stake in RPC, Inc. (NYSE:RES - Free Report) by 876.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 241,471 shares of the oil and gas company's stock after purchasing an additional 216,742 shares during the quarter. Creative Planning owned about 0.11% of RPC worth $1,509,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Empowered Funds LLC lifted its holdings in shares of RPC by 31.9% in the 1st quarter. Empowered Funds LLC now owns 777,986 shares of the oil and gas company's stock worth $6,022,000 after purchasing an additional 188,377 shares in the last quarter. Texas Permanent School Fund Corp lifted its stake in shares of RPC by 115.1% in the second quarter. Texas Permanent School Fund Corp now owns 160,197 shares of the oil and gas company's stock valued at $1,001,000 after buying an additional 85,738 shares in the last quarter. Wasatch Advisors LP acquired a new position in shares of RPC during the first quarter valued at about $1,239,000. Price T Rowe Associates Inc. MD increased its position in shares of RPC by 17.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 24,393 shares of the oil and gas company's stock worth $189,000 after acquiring an additional 3,650 shares in the last quarter. Finally, BOKF NA raised its holdings in shares of RPC by 115.1% in the 1st quarter. BOKF NA now owns 31,789 shares of the oil and gas company's stock worth $248,000 after acquiring an additional 17,013 shares during the last quarter. 41.06% of the stock is owned by institutional investors.

RPC Trading Down 0.6 %

Shares of RES stock traded down $0.04 during trading on Wednesday, hitting $6.93. The company's stock had a trading volume of 1,278,382 shares, compared to its average volume of 1,718,232. The company has a market cap of $1.49 billion, a PE ratio of 9.91 and a beta of 1.55. The business has a fifty day moving average of $6.40 and a 200-day moving average of $6.68. RPC, Inc. has a 52 week low of $5.66 and a 52 week high of $9.26.

RPC (NYSE:RES - Get Free Report) last announced its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $0.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.02. The firm had revenue of $364.20 million during the quarter, compared to the consensus estimate of $381.18 million. RPC had a return on equity of 11.52% and a net margin of 8.08%. The business's revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 EPS. As a group, research analysts predict that RPC, Inc. will post 0.56 EPS for the current year.

RPC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 2.31%. The ex-dividend date was Friday, August 9th. RPC's dividend payout ratio is 22.86%.

Analysts Set New Price Targets

Several brokerages have recently commented on RES. Citigroup lowered their price objective on RPC from $6.75 to $5.25 and set a "sell" rating for the company in a research note on Wednesday, July 10th. Susquehanna lowered their price target on RPC from $7.00 to $6.50 and set a "neutral" rating for the company in a research report on Thursday, July 11th. Finally, Stifel Nicolaus cut their price objective on shares of RPC from $8.00 to $7.00 and set a "hold" rating on the stock in a report on Tuesday, July 16th.

RPC Company Profile

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.