RPC, Inc. (NYSE:RES) Shares Acquired by Creative Planning

Creative Planning boosted its position in RPC, Inc. (NYSE:RES) by 6.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 258,055 shares of the oil and gas company’s stock after acquiring an additional 16,584 shares during the quarter. Creative Planning owned 0.12% of RPC worth $1,641,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in RES. Dimensional Fund Advisors LP grew its stake in RPC by 7.9% during 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 buying an additional 769,578 shares during the period. Van ECK Associates Corp boosted its position in RPC by 0.7% during the 1st quarter. Van ECK Associates Corp now owns 2,998,405 shares of the oil and gas company’s stock worth $23,207,000 after purchasing an additional 19,702 shares during the period. American Century Companies Inc. increased its holdings in RPC by 24.1% in the 2nd 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 purchasing an additional 434,849 shares in the last quarter. Victory Capital Management Inc. raised its position in 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 purchasing an additional 656,446 shares during the period. Finally, Empowered Funds LLC lifted its stake in shares of RPC by 31.9% during the first quarter. Empowered Funds LLC now owns 777,986 shares of the oil and gas company’s stock worth $6,022,000 after purchasing an additional 188,377 shares in the last quarter. Hedge funds and other institutional investors own 41.06% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on RES. Stifel Nicolaus lowered their target price on RPC from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Friday, October 11th. Citigroup decreased their price target on RPC from $6.75 to $5.25 and set a “sell” rating for the company in a report on Wednesday, July 10th. Finally, Susquehanna dropped their price objective on shares of RPC from $6.50 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th.

RPC Price Performance

NYSE:RES opened at $5.79 on Wednesday. RPC, Inc. has a 1-year low of $5.66 and a 1-year high of $8.55. The stock has a market cap of $1.24 billion, a P/E ratio of 10.34 and a beta of 1.55. The firm has a 50-day moving average of $6.39 and a two-hundred day moving average of $6.54.

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 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 business had revenue of $337.70 million during the quarter, compared to analysts’ expectations of $365.33 million. During the same period in the prior year, the company posted $0.08 EPS. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, equities analysts expect that RPC, Inc. will post 0.55 earnings per share for the current year.

RPC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 11th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend is Friday, November 8th. RPC’s payout ratio is currently 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.