Farther Finance Advisors LLC Reduces Stock Position in RPC, Inc. (NYSE:RES)

Farther Finance Advisors LLC lessened its holdings in shares of RPC, Inc. (NYSE:RES) by 19.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,173 shares of the oil and gas company’s stock after selling 2,997 shares during the period. Farther Finance Advisors LLC’s holdings in RPC were worth $77,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of 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 valued at $324,000 after acquiring an additional 1,869 shares in the last quarter. Swiss National Bank raised its holdings in RPC by 1.4% in the 1st quarter. Swiss National Bank now owns 192,000 shares of the oil and gas company’s stock worth $1,486,000 after purchasing an additional 2,600 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of RPC by 17.6% in 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 during the period. CWM LLC boosted its stake in shares of RPC by 256.5% during the 2nd quarter. CWM LLC now owns 5,112 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 3,678 shares in the last quarter. Finally, International Assets Investment Management LLC increased its position in shares of RPC by 540.4% during 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 buying an additional 3,848 shares during the period. Hedge funds and other institutional investors own 41.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on RES. Susquehanna reduced their price target on RPC from $6.50 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Stifel Nicolaus dropped their price target 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

NYSE RES opened at $6.01 on Wednesday. The business’s fifty day moving average price is $6.31 and its 200-day moving average price is $6.41. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 10.72 and a beta of 1.58. RPC, Inc. has a 1-year low of $5.63 and a 1-year high of $8.19.

RPC (NYSE:RES) last posted its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.09 EPS 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 the consensus estimate of $365.33 million. RPC had a return on equity of 11.36% and a net margin of 8.07%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the business earned $0.08 EPS. Equities research analysts anticipate that RPC, Inc. will post 0.43 EPS for the current year.

RPC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 11th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 2.66%. The ex-dividend date is Friday, November 8th. RPC’s dividend payout ratio (DPR) is presently 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.