Aigen Investment Management LP Makes New $229,000 Investment in RPC, Inc. (NYSE:RES)

Aigen Investment Management LP acquired a new stake in RPC, Inc. (NYSE:RES) in the 3rd quarter, Holdings Channel reports. The firm acquired 35,932 shares of the oil and gas company’s stock, valued at approximately $229,000.

Several other hedge funds and other institutional investors have also modified their holdings of RES. Texas Permanent School Fund Corp boosted its holdings in RPC by 115.1% in 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. International Assets Investment Management LLC lifted 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 during the period. Price T Rowe Associates Inc. MD grew its position 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 in the last quarter. Creative Planning increased 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 valued at $1,509,000 after acquiring an additional 216,742 shares during the period. Finally, Inspire Investing LLC raised its holdings in RPC by 15.3% in the 3rd quarter. Inspire Investing LLC now owns 64,494 shares of the oil and gas company’s stock valued at $410,000 after acquiring an additional 8,552 shares in the last quarter. Institutional investors and hedge funds own 41.06% of the company’s stock.

Analyst Upgrades and Downgrades

RES has been the topic of several recent research reports. Stifel Nicolaus decreased their price objective on RPC from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Friday, October 11th. Susquehanna lowered their price target on shares of RPC from $6.50 to $6.00 and set a “neutral” rating on the stock in a report on Friday, October 25th.

RPC Trading Down 3.0 %

NYSE RES opened at $5.73 on Friday. RPC, Inc. has a 1-year low of $5.63 and a 1-year high of $8.19. The stock’s 50 day moving average is $6.30 and its two-hundred day moving average is $6.39. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 10.23 and a beta of 1.58.

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

RPC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 11th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend is Friday, November 8th. RPC’s dividend payout ratio (DPR) is currently 28.57%.

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.