Barclays PLC Buys 127,525 Shares of RPC, Inc. (NYSE:RES)

Barclays PLC raised its stake in RPC, Inc. (NYSE:RES) by 230.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 182,943 shares of the oil and gas company’s stock after buying an additional 127,525 shares during the quarter. Barclays PLC owned 0.09% of RPC worth $1,163,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its stake in RPC by 540.4% during the 3rd quarter. International Assets Investment Management LLC now owns 4,560 shares of the oil and gas company’s stock worth $29,000 after buying an additional 3,848 shares during the period. Paloma Partners Management Co acquired a new position in shares of RPC in the third quarter valued at approximately $69,000. Townsquare Capital LLC acquired a new stake in shares of RPC during the third quarter worth $73,000. CWM LLC lifted its position in RPC by 130.0% in the 3rd quarter. CWM LLC now owns 11,758 shares of the oil and gas company’s stock valued at $75,000 after acquiring an additional 6,646 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in RPC by 38.7% during the 2nd 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. Institutional investors own 41.06% of the company’s stock.

RPC Price Performance

Shares of RES opened at $5.78 on Monday. The company’s 50-day moving average is $6.03 and its 200-day moving average is $6.25. The firm has a market capitalization of $1.24 billion, a PE ratio of 10.32 and a beta of 1.61. RPC, Inc. has a fifty-two week low of $5.54 and a fifty-two week high of $8.19.

RPC (NYSE:RES) last posted its 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). The firm had revenue of $337.70 million during the quarter, compared to analyst estimates of $365.33 million. RPC had a net margin of 8.07% and a return on equity of 11.36%. RPC’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.08 EPS. Analysts predict that RPC, Inc. will post 0.43 earnings per share for the current fiscal year.

RPC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 11th were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend was Friday, November 8th. RPC’s dividend payout ratio (DPR) is 28.57%.

Analyst Ratings Changes

RES has been the topic of several analyst reports. Susquehanna cut their price target 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. Stifel Nicolaus reduced their price target on RPC from $8.00 to $7.00 and set a “hold” rating for the company in a research report 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.