Franklin Resources Inc. Has $324,000 Stake in RPC, Inc. (NYSE:RES)

Franklin Resources Inc. grew its holdings in RPC, Inc. (NYSE:RES) by 8.5% in the 3rd quarter, Holdings Channel reports. The fund owned 46,272 shares of the oil and gas company’s stock after purchasing an additional 3,633 shares during the quarter. Franklin Resources Inc.’s holdings in RPC were worth $324,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. International Assets Investment Management LLC lifted its position 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 acquiring an additional 3,848 shares in the last quarter. Paloma Partners Management Co acquired a new stake in shares of RPC in the 3rd quarter valued at about $69,000. Townsquare Capital LLC bought a new stake in shares of RPC in the third quarter valued at about $73,000. 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. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in shares of RPC by 38.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,821 shares of the oil and gas company’s stock worth $93,000 after buying an additional 4,136 shares in the last quarter. Institutional investors and hedge funds own 41.06% of the company’s stock.

Wall Street Analysts Forecast Growth

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

RPC Stock Up 1.5 %

NYSE:RES opened at $5.94 on Thursday. RPC, Inc. has a twelve month low of $5.54 and a twelve month high of $8.19. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 10.61 and a beta of 1.61. The stock’s 50 day moving average price is $6.00 and its two-hundred day moving average price is $6.24.

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

RPC Announces Dividend

The firm also recently declared 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. This represents a $0.16 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend was Friday, November 8th. RPC’s payout ratio is currently 28.57%.

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.