State of Alaska Department of Revenue Has $299,000 Stock Position in RPC, Inc. (NYSE:RES)

State of Alaska Department of Revenue cut its position in shares of RPC, Inc. (NYSE:RES) by 4.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 47,145 shares of the oil and gas company’s stock after selling 2,449 shares during the quarter. State of Alaska Department of Revenue’s holdings in RPC were worth $299,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC boosted its holdings in 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 worth $29,000 after purchasing an additional 3,848 shares during the last quarter. CWM LLC boosted its holdings in RPC by 256.5% during the second quarter. CWM LLC now owns 5,112 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 3,678 shares during the last quarter. Innealta Capital LLC purchased a new position in RPC during the second quarter worth about $44,000. Vanguard Personalized Indexing Management LLC boosted its holdings in 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 during the last quarter. Finally, nVerses Capital LLC boosted its holdings in RPC by 352.9% during the second quarter. nVerses Capital LLC now owns 15,400 shares of the oil and gas company’s stock worth $96,000 after purchasing an additional 12,000 shares during the last quarter. 41.06% of the stock is currently owned by hedge funds and other institutional investors.

RPC Stock Performance

Shares of RES stock opened at $6.01 on Friday. The firm has a market cap of $1.29 billion, a price-to-earnings ratio of 10.73 and a beta of 1.58. RPC, Inc. has a 52 week low of $5.63 and a 52 week high of $8.19. The firm’s 50-day simple moving average is $6.32 and its two-hundred day simple moving average is $6.44.

RPC (NYSE:RES) last posted its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $365.33 million. During the same period last year, the firm earned $0.08 EPS. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. Analysts forecast that RPC, Inc. will post 0.43 earnings per share for the current year.

RPC Announces Dividend

The firm 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 $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 2.66%. The ex-dividend date of this dividend is Friday, November 8th. RPC’s dividend payout ratio (DPR) is currently 28.57%.

Analyst Upgrades and Downgrades

Several brokerages have commented on RES. Stifel Nicolaus lowered their price objective on shares of RPC from $8.00 to $7.00 and set a “hold” rating on the stock in a research report on Friday, October 11th. Susquehanna lowered their price objective on shares of RPC from $6.50 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th.

About RPC

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.