Thrivent Financial for Lutherans Decreases Stake in RPC, Inc. (NYSE:RES)

Thrivent Financial for Lutherans decreased its holdings in RPC, Inc. (NYSE:RES) by 7.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 64,877 shares of the oil and gas company’s stock after selling 5,245 shares during the quarter. Thrivent Financial for Lutherans’ holdings in RPC were worth $413,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its stake in RPC by 540.4% in the 3rd quarter. International Assets Investment Management LLC now owns 4,560 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 3,848 shares during the period. CWM LLC grew its position in RPC by 256.5% in the second quarter. CWM LLC now owns 5,112 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 3,678 shares in the last quarter. Innealta Capital LLC acquired a new stake in RPC in the second quarter valued at approximately $44,000. Vanguard Personalized Indexing Management LLC boosted its stake in shares of RPC by 38.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,821 shares of the oil and gas company’s stock valued at $93,000 after buying an additional 4,136 shares during the last quarter. Finally, nVerses Capital LLC boosted its stake in shares of RPC by 352.9% during the 2nd quarter. nVerses Capital LLC now owns 15,400 shares of the oil and gas company’s stock valued at $96,000 after buying an additional 12,000 shares during the last quarter. Hedge funds and other institutional investors own 41.06% of the company’s stock.

Analyst Ratings Changes

RES has been the topic of several recent analyst reports. Susquehanna dropped their target price on RPC from $6.50 to $6.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Stifel Nicolaus decreased their price objective on shares of RPC from $8.00 to $7.00 and set a “hold” rating for the company in a report on Friday, October 11th.

RPC Stock Up 0.5 %

RPC stock opened at $6.38 on Friday. The stock has a 50-day simple moving average of $6.31 and a 200 day simple moving average of $6.35. RPC, Inc. has a 12-month low of $5.63 and a 12-month high of $8.19. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 11.41 and a beta of 1.61.

RPC (NYSE:RES) last released its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). RPC had a net margin of 8.07% and a return on equity of 11.36%. The business had revenue of $337.70 million during the quarter, compared to the consensus estimate of $365.33 million. During the same period in the prior year, the firm earned $0.08 earnings per share. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that RPC, Inc. will post 0.43 EPS for the current year.

RPC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 11th will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.16 annualized dividend and a yield of 2.51%. RPC’s dividend payout ratio is currently 28.57%.

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.