RPC, Inc. (NYSE:RES) Shares Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC grew its stake in shares of RPC, Inc. (NYSE:RES) by 540.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,560 shares of the oil and gas company’s stock after acquiring an additional 3,848 shares during the quarter. International Assets Investment Management LLC’s holdings in RPC were worth $29,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of RES. Empowered Funds LLC lifted its stake in shares of RPC by 31.9% in the 1st quarter. Empowered Funds LLC now owns 777,986 shares of the oil and gas company’s stock valued at $6,022,000 after purchasing an additional 188,377 shares in the last quarter. Texas Permanent School Fund Corp lifted its position in RPC by 115.1% during the second quarter. Texas Permanent School Fund Corp now owns 160,197 shares of the oil and gas company’s stock valued at $1,001,000 after buying an additional 85,738 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in RPC by 17.6% during 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 buying an additional 3,650 shares during the period. Creative Planning grew its stake in RPC by 876.5% during the second quarter. Creative Planning now owns 241,471 shares of the oil and gas company’s stock worth $1,509,000 after buying an additional 216,742 shares during the period. Finally, Inspire Investing LLC increased its position in shares of RPC by 15.3% in the third quarter. Inspire Investing LLC now owns 64,494 shares of the oil and gas company’s stock worth $410,000 after acquiring an additional 8,552 shares in the last quarter. 41.06% of the stock is currently owned by hedge funds and other institutional investors.

RPC Trading Down 2.4 %

NYSE RES opened at $6.00 on Friday. The stock has a market cap of $1.29 billion, a P/E ratio of 10.71 and a beta of 1.58. The company’s fifty day simple moving average is $6.32 and its 200-day simple moving average is $6.45. RPC, Inc. has a 52 week low of $5.63 and a 52 week high of $8.19.

RPC (NYSE:RES) last issued its quarterly earnings data 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 return on equity of 11.36% and a net margin of 8.07%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.08 EPS. On average, research analysts expect that RPC, Inc. will post 0.43 EPS for the current fiscal year.

RPC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 11th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Friday, November 8th. RPC’s dividend payout ratio is currently 28.57%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Stifel Nicolaus decreased their price target on shares of RPC from $8.00 to $7.00 and set a “hold” rating for the company in a research report on Friday, October 11th. Susquehanna decreased their target price on RPC from $6.50 to $6.00 and set a “neutral” rating for the company in a research report on Friday, October 25th.

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.