Barclays PLC Grows Position in RPC, Inc. (NYSE:RES)

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

A number of other large investors have also recently made changes to their positions in RES. Texas Permanent School Fund Corp grew its stake in shares of RPC by 115.1% during the 2nd 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 purchasing an additional 85,738 shares during the period. American Century Companies Inc. raised 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 worth $13,977,000 after purchasing an additional 434,849 shares during the period. BOKF NA lifted its position in RPC by 130.4% during the second quarter. BOKF NA now owns 73,232 shares of the oil and gas company’s stock valued at $458,000 after purchasing an additional 41,443 shares in the last quarter. Dimensional Fund Advisors LP increased its position in RPC by 7.9% in 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 in the last quarter. Finally, Edgestream Partners L.P. bought a new position in shares of RPC in the second quarter worth about $3,814,000. 41.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

RPC Stock Up 0.9 %

Shares of NYSE RES opened at $6.41 on Tuesday. RPC, Inc. has a twelve month low of $5.54 and a twelve month high of $8.19. The firm has a market cap of $1.38 billion, a PE ratio of 11.45 and a beta of 1.59. The business has a fifty day simple moving average of $6.07 and a two-hundred day simple moving average of $6.24.

RPC (NYSE:RES) last released its quarterly 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 company had revenue of $337.70 million during the quarter, compared to the consensus estimate of $365.33 million. RPC had a return on equity of 11.36% and a net margin of 8.07%. The company’s revenue was up 2.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.08 earnings per share. On average, research analysts expect that RPC, Inc. will post 0.43 earnings per share for the current year.

RPC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 11th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.50%. The ex-dividend date was Friday, November 8th. RPC’s dividend payout ratio (DPR) is presently 28.57%.

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.