RPC, Inc. (NYSE:RES) Shares Sold by PDT Partners LLC

PDT Partners LLC cut its position in shares of RPC, Inc. (NYSE:RES) by 55.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 66,320 shares of the oil and gas company’s stock after selling 81,578 shares during the period. PDT Partners LLC’s holdings in RPC were worth $422,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RES. The Manufacturers Life Insurance Company grew its stake in shares of RPC by 3.7% in the second quarter. The Manufacturers Life Insurance Company now owns 51,819 shares of the oil and gas company’s stock valued at $324,000 after buying an additional 1,869 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of RPC by 17.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 24,393 shares of the oil and gas company’s stock valued at $189,000 after buying an additional 3,650 shares in the last quarter. CWM LLC grew its stake in shares of RPC by 256.5% in the second quarter. CWM LLC now owns 5,112 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 3,678 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of RPC by 540.4% in the third quarter. International Assets Investment Management LLC now owns 4,560 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 3,848 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its stake in shares of RPC by 38.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,821 shares of the oil and gas company’s stock valued at $93,000 after buying an additional 4,136 shares in the last quarter. 41.06% of the stock is currently owned by institutional investors and hedge funds.

RPC Price Performance

Shares of NYSE RES opened at $6.44 on Wednesday. RPC, Inc. has a fifty-two week low of $5.63 and a fifty-two week high of $8.19. The business has a 50 day moving average price of $6.32 and a two-hundred day moving average price of $6.35. The firm has a market cap of $1.38 billion, a PE ratio of 11.49 and a beta of 1.61.

RPC (NYSE:RES) last issued its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.09 earnings per share 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 for the quarter, compared to analyst estimates of $365.33 million. During the same quarter last year, the business earned $0.08 EPS. RPC’s revenue for the quarter was up 2.2% compared to the same quarter last year. On average, analysts anticipate that RPC, Inc. will post 0.43 earnings per share for the current year.

RPC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 11th will be paid a dividend of $0.04 per share. The ex-dividend date is Friday, November 8th. This represents a $0.16 dividend on an annualized basis and a yield of 2.49%. RPC’s dividend payout ratio (DPR) is presently 28.57%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. 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. Susquehanna lowered their target price 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 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.