American Century Companies Inc. Acquires 434,849 Shares of RPC, Inc. (NYSE:RES)

American Century Companies Inc. lifted its holdings in RPC, Inc. (NYSE:RES) by 24.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,236,307 shares of the oil and gas company’s stock after buying an additional 434,849 shares during the period. American Century Companies Inc.’s holdings in RPC were worth $13,977,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Bridge City Capital LLC increased its holdings in shares of RPC by 0.8% in the 1st quarter. Bridge City Capital LLC now owns 240,187 shares of the oil and gas company’s stock worth $1,859,000 after buying an additional 1,851 shares during the last quarter. Swiss National Bank increased its holdings in shares of RPC by 1.4% in the 1st quarter. Swiss National Bank now owns 192,000 shares of the oil and gas company’s stock worth $1,486,000 after buying an additional 2,600 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of RPC by 17.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,393 shares of the oil and gas company’s stock worth $189,000 after buying an additional 3,650 shares during the last quarter. CWM LLC increased its holdings in shares of RPC by 256.5% in the 2nd quarter. CWM LLC now owns 5,112 shares of the oil and gas company’s stock worth $32,000 after buying an additional 3,678 shares during the last quarter. Finally, Register Financial Advisors LLC bought a new position in RPC during the 1st quarter valued at about $39,000. 41.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on RES. Stifel Nicolaus cut their price target 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. Susquehanna cut their price target on shares of RPC from $7.00 to $6.50 and set a “neutral” rating on the stock in a report on Thursday, July 11th. Finally, Citigroup cut their price target on shares of RPC from $6.75 to $5.25 and set a “sell” rating on the stock in a report on Wednesday, July 10th.

RPC Price Performance

Shares of RES stock opened at $6.57 on Friday. The company has a market capitalization of $1.41 billion, a P/E ratio of 9.39 and a beta of 1.56. The company’s 50-day simple moving average is $6.35 and its two-hundred day simple moving average is $6.77. RPC, Inc. has a one year low of $5.66 and a one year high of $9.41.

RPC (NYSE:RES) last issued its earnings results on Thursday, July 25th. The oil and gas company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. The business had revenue of $364.20 million for the quarter, compared to the consensus estimate of $381.18 million. RPC had a net margin of 8.08% and a return on equity of 11.52%. The company’s revenue for the quarter was down 12.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.30 EPS. On average, research analysts expect that RPC, Inc. will post 0.56 EPS for the current fiscal year.

RPC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a $0.04 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.16 annualized dividend and a dividend yield of 2.44%. RPC’s payout ratio is presently 22.86%.

RPC 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.