State Street Corp Has $26.73 Million Stock Position in RPC, Inc. (NYSE:RES)

State Street Corp raised its stake in RPC, Inc. (NYSE:RES) by 6.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,202,844 shares of the oil and gas company’s stock after acquiring an additional 245,372 shares during the period. State Street Corp’s holdings in RPC were worth $26,730,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in RES. The Manufacturers Life Insurance Company raised its holdings in shares of RPC by 3.7% during the second quarter. The Manufacturers Life Insurance Company now owns 51,819 shares of the oil and gas company’s stock worth $324,000 after acquiring an additional 1,869 shares during the period. HighTower Advisors LLC increased its holdings in RPC by 6.1% during the 3rd quarter. HighTower Advisors LLC now owns 40,082 shares of the oil and gas company’s stock worth $252,000 after purchasing an additional 2,288 shares in the last quarter. International Assets Investment Management LLC raised its stake in shares of 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 purchasing an additional 3,848 shares during the period. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of RPC by 38.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,821 shares of the oil and gas company’s stock valued at $93,000 after purchasing an additional 4,136 shares in the last quarter. Finally, CWM LLC boosted its position 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 worth $75,000 after buying an additional 6,646 shares during the period. Institutional investors and hedge funds own 41.06% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Susquehanna dropped their target price on RPC from $6.50 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Stifel Nicolaus lowered 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.

RPC Price Performance

Shares of NYSE RES opened at $5.63 on Monday. The business has a 50-day moving average of $6.13 and a 200-day moving average of $6.28. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 10.05 and a beta of 1.61. RPC, Inc. has a fifty-two week low of $5.54 and a fifty-two week high of $8.19.

RPC (NYSE:RES) last posted its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.09 earnings per share 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 company had revenue of $337.70 million during the quarter, compared to the consensus estimate of $365.33 million. During the same quarter in the prior year, the business earned $0.08 earnings per share. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, sell-side analysts expect that RPC, Inc. will post 0.43 EPS for the current year.

RPC Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 11th were issued a dividend of $0.04 per share. The ex-dividend date was Friday, November 8th. This represents a $0.16 dividend on an annualized basis and a yield of 2.84%. RPC’s payout ratio is 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.