Franklin Resources Inc. Buys 3,633 Shares of RPC, Inc. (NYSE:RES)

Franklin Resources Inc. boosted its stake in shares of RPC, Inc. (NYSE:RES) by 8.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,272 shares of the oil and gas company’s stock after acquiring an additional 3,633 shares during the quarter. Franklin Resources Inc.’s holdings in RPC were worth $324,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RES. Pacer Advisors Inc. boosted its holdings in shares of RPC by 38.9% in the 3rd quarter. Pacer Advisors Inc. now owns 12,029,993 shares of the oil and gas company’s stock worth $76,511,000 after acquiring an additional 3,371,490 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in RPC by 7.9% in the second quarter. Dimensional Fund Advisors LP now owns 10,456,497 shares of the oil and gas company’s stock worth $65,353,000 after purchasing an additional 769,578 shares in the last quarter. State Street Corp grew its holdings in shares of RPC by 6.2% during the third quarter. State Street Corp now owns 4,202,844 shares of the oil and gas company’s stock worth $26,730,000 after purchasing an additional 245,372 shares during the last quarter. American Century Companies Inc. increased its stake in shares of RPC by 24.1% in the second quarter. American Century Companies Inc. now owns 2,236,307 shares of the oil and gas company’s stock valued at $13,977,000 after buying an additional 434,849 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of RPC by 48.7% in the second quarter. Victory Capital Management Inc. now owns 2,004,789 shares of the oil and gas company’s stock valued at $12,530,000 after buying an additional 656,446 shares during the last quarter. 41.06% of the stock is owned by institutional investors.

RPC Stock Up 1.5 %

Shares of RES stock opened at $5.94 on Thursday. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 10.61 and a beta of 1.61. RPC, Inc. has a 12 month low of $5.54 and a 12 month high of $8.19. The stock has a 50-day moving average price of $6.00 and a 200 day moving average price of $6.24.

RPC (NYSE:RES) last issued its quarterly earnings results 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). RPC had a return on equity of 11.36% and a net margin of 8.07%. The business had revenue of $337.70 million for the quarter, compared to analyst estimates of $365.33 million. During the same quarter in the prior year, the firm earned $0.08 EPS. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. Sell-side analysts predict that RPC, Inc. will post 0.43 earnings per share for the current fiscal year.

RPC Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 11th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend was Friday, November 8th. RPC’s payout ratio is 28.57%.

Analyst Upgrades and Downgrades

RES has been the topic of a number of research analyst reports. 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 decreased their price target on shares of RPC from $8.00 to $7.00 and set a “hold” rating on the stock in a research note on Friday, October 11th.

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.