RPC, Inc. (NYSE:RES) Shares Acquired by Quantbot Technologies LP

Quantbot Technologies LP boosted its position in RPC, Inc. (NYSE:RES) by 129.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 123,593 shares of the oil and gas company’s stock after purchasing an additional 69,757 shares during the period. Quantbot Technologies LP owned about 0.06% of RPC worth $786,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Texas Permanent School Fund Corp boosted 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. International Assets Investment Management LLC lifted its holdings in RPC by 540.4% in the third quarter. International Assets Investment Management LLC now owns 4,560 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 3,848 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of RPC by 17.6% during 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 purchasing an additional 3,650 shares in the last quarter. Creative Planning boosted its position in shares of RPC by 876.5% during the 2nd quarter. Creative Planning now owns 241,471 shares of the oil and gas company’s stock worth $1,509,000 after purchasing an additional 216,742 shares in the last quarter. Finally, Inspire Investing LLC grew its stake in shares of RPC by 15.3% during the 3rd quarter. Inspire Investing LLC now owns 64,494 shares of the oil and gas company’s stock worth $410,000 after purchasing an additional 8,552 shares during the period. Hedge funds and other institutional investors own 41.06% of the company’s stock.

RPC Stock Up 0.3 %

Shares of RES stock opened at $6.44 on Monday. The stock has a market cap of $1.38 billion, a P/E ratio of 11.50 and a beta of 1.58. RPC, Inc. has a fifty-two week low of $5.63 and a fifty-two week high of $8.19. The business has a fifty day simple moving average of $6.32 and a 200-day simple moving average of $6.36.

RPC (NYSE:RES) last announced its 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). The business had revenue of $337.70 million for the quarter, compared to analyst estimates of $365.33 million. RPC had a return on equity of 11.36% and a net margin of 8.07%. The business’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.08 EPS. On average, sell-side analysts anticipate that RPC, Inc. will post 0.43 earnings per share for the current year.

RPC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 11th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 2.48%. The ex-dividend date is Friday, November 8th. RPC’s payout ratio is 28.57%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Susquehanna decreased their price objective on shares of RPC from $6.50 to $6.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Stifel Nicolaus reduced their price target on shares of RPC from $8.00 to $7.00 and set a “hold” rating for the company in a research report on Friday, October 11th.

About RPC

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.