RPC, Inc. (NYSE:RES) Shares Acquired by International Assets Investment Management LLC

International Assets Investment Management LLC boosted its holdings in RPC, Inc. (NYSE:RES) by 540.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,560 shares of the oil and gas company’s stock after acquiring an additional 3,848 shares during the period. International Assets Investment Management LLC’s holdings in RPC were worth $29,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Creative Planning raised its position in shares of RPC by 6.9% during the 3rd quarter. Creative Planning now owns 258,055 shares of the oil and gas company’s stock worth $1,641,000 after purchasing an additional 16,584 shares during the period. Wedge Capital Management L L P NC bought a new position in RPC during the 3rd quarter worth $936,000. Exchange Traded Concepts LLC increased its position in RPC by 39.8% in the third quarter. Exchange Traded Concepts LLC now owns 164,990 shares of the oil and gas company’s stock worth $1,049,000 after buying an additional 46,995 shares during the period. Inspire Investing LLC lifted its stake in RPC by 15.3% in the third quarter. Inspire Investing LLC now owns 64,494 shares of the oil and gas company’s stock valued at $410,000 after buying an additional 8,552 shares during the last quarter. Finally, CWM LLC boosted its holdings in shares of RPC by 130.0% during the third quarter. CWM LLC now owns 11,758 shares of the oil and gas company’s stock valued at $75,000 after acquiring an additional 6,646 shares during the period. 41.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

RPC Price Performance

Shares of RPC stock opened at $6.00 on Friday. RPC, Inc. has a 1-year low of $5.63 and a 1-year high of $8.19. The company has a market capitalization of $1.29 billion, a P/E ratio of 10.71 and a beta of 1.58. The business’s fifty day moving average price is $6.32 and its two-hundred day moving average price is $6.45.

RPC (NYSE:RES) last posted its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.04). The company had revenue of $337.70 million during 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 for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.08 EPS. On average, research analysts expect that RPC, Inc. will post 0.43 earnings per share for the current fiscal year.

RPC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 11th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Friday, November 8th. RPC’s dividend payout ratio (DPR) is presently 28.57%.

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.