Russell Investments Group Ltd. lifted its position in RPC, Inc. (NYSE:RES) by 0.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 280,301 shares of the oil and gas company’s stock after buying an additional 1,913 shares during the period. Russell Investments Group Ltd. owned approximately 0.13% of RPC worth $2,019,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of RES. Virginia Retirement Systems ET AL boosted its holdings in shares of RPC by 4.2% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 44,600 shares of the oil and gas company’s stock valued at $322,000 after acquiring an additional 1,800 shares during the last quarter. Marshall Wace North America L.P. acquired a new stake in shares of RPC in the first quarter valued at about $25,000. Swiss National Bank raised its position in shares of RPC by 2.0% in the second 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 last quarter. Strs Ohio acquired a new stake in shares of RPC in the second quarter valued at about $28,000. Finally, Mraz Amerine & Associates Inc. raised its position in shares of RPC by 1.3% in the first quarter. Mraz Amerine & Associates Inc. now owns 424,210 shares of the oil and gas company’s stock valued at $4,840,000 after buying an additional 5,262 shares during the last quarter. 33.78% of the stock is currently owned by hedge funds and other institutional investors.
Shares of RES traded down $0.02 during mid-day trading on Thursday, reaching $5.72. The stock had a trading volume of 45,185 shares, compared to its average volume of 2,180,536. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.13 and a quick ratio of 2.45. RPC, Inc. has a 52-week low of $4.88 and a 52-week high of $17.24. The business’s fifty day moving average is $5.69 and its 200 day moving average is $8.22. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 6.98, a P/E/G ratio of 272.50 and a beta of 1.08.
RES has been the subject of a number of recent research reports. Citigroup set a $6.00 target price on shares of RPC and gave the company a “sell” rating in a research report on Tuesday, July 2nd. Wells Fargo & Co reduced their target price on shares of RPC from $5.50 to $4.50 and set an “underperform” rating for the company in a research report on Thursday, September 12th. ValuEngine raised shares of RPC from a “strong sell” rating to a “sell” rating in a report on Thursday, August 1st. Barclays reissued a “sell” rating and issued a $5.50 price objective on shares of RPC in a report on Sunday, July 28th. Finally, AltaCorp Capital reissued an “underperform” rating on shares of RPC in a report on Thursday, June 20th. Nine research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. RPC presently has an average rating of “Hold” and an average price target of $10.42.
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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