RPC, Inc. (NYSE:RES) Shares Sold by nVerses Capital LLC

nVerses Capital LLC cut its stake in shares of RPC, Inc. (NYSE:RES) by 66.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 5,100 shares of the oil and gas company’s stock after selling 10,300 shares during the period. nVerses Capital LLC’s holdings in RPC were worth $32,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company raised its position in shares of RPC by 3.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 51,819 shares of the oil and gas company’s stock worth $324,000 after purchasing an additional 1,869 shares during the last quarter. Swiss National Bank lifted its position in shares of RPC by 1.4% in the first quarter. Swiss National Bank now owns 192,000 shares of the oil and gas company’s stock valued at $1,486,000 after acquiring an additional 2,600 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of RPC by 17.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 24,393 shares of the oil and gas company’s stock worth $189,000 after acquiring an additional 3,650 shares during the last quarter. CWM LLC boosted its stake in shares of RPC by 256.5% in the second quarter. CWM LLC now owns 5,112 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 3,678 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its position 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 purchasing an additional 4,136 shares in the last quarter. 41.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Stifel Nicolaus decreased their price objective on 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 price target on shares of RPC from $7.00 to $6.50 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Finally, Citigroup dropped their price objective on shares of RPC from $6.75 to $5.25 and set a “sell” rating for the company in a research note on Wednesday, July 10th.

RPC Stock Performance

NYSE RES opened at $6.29 on Wednesday. RPC, Inc. has a fifty-two week low of $5.66 and a fifty-two week high of $9.22. The firm has a market capitalization of $1.35 billion, a P/E ratio of 11.44 and a beta of 1.55. The stock’s fifty day moving average is $6.42 and its two-hundred day moving average is $6.62.

RPC (NYSE:RES) last released its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.13 by $0.02. RPC had a net margin of 8.08% and a return on equity of 11.52%. The firm had revenue of $364.20 million for the quarter, compared to analyst estimates of $381.18 million. During the same quarter in the previous year, the company earned $0.30 EPS. The business’s revenue for the quarter was down 12.4% compared to the same quarter last year. As a group, sell-side analysts forecast that RPC, Inc. will post 0.55 EPS for the current year.

RPC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend was Friday, August 9th. RPC’s dividend payout ratio is presently 29.09%.

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.