Versor Investments LP Buys Shares of 25,000 RPC, Inc. (NYSE:RES)

Versor Investments LP bought a new stake in RPC, Inc. (NYSE:RES) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 25,000 shares of the oil and gas company’s stock, valued at approximately $159,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC purchased a new position in shares of RPC in the 3rd quarter valued at approximately $100,000. International Assets Investment Management LLC lifted its holdings in shares of RPC by 540.4% in the 3rd 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. Creative Planning lifted its holdings in shares of RPC by 6.9% in the 3rd quarter. Creative Planning now owns 258,055 shares of the oil and gas company’s stock valued at $1,641,000 after buying an additional 16,584 shares during the period. Wedge Capital Management L L P NC acquired a new stake in shares of RPC in the 3rd quarter valued at approximately $936,000. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of RPC by 39.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 164,990 shares of the oil and gas company’s stock valued at $1,049,000 after buying an additional 46,995 shares during the period. 41.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RES has been the subject of several recent analyst reports. Stifel Nicolaus reduced their price target on RPC from $8.00 to $7.00 and set a “hold” rating for the company in a report on Friday, October 11th. Susquehanna reduced their price target on RPC from $6.50 to $6.00 and set a “neutral” rating for the company in a report on Friday, October 25th.

RPC Stock Performance

Shares of RES stock opened at $5.73 on Monday. The stock has a fifty day moving average price of $6.30 and a 200 day moving average price of $6.39. The stock has a market cap of $1.23 billion, a PE ratio of 10.23 and a beta of 1.58. RPC, Inc. has a 1 year low of $5.63 and a 1 year high of $8.19.

RPC (NYSE:RES) last issued its quarterly earnings data 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). The firm had revenue of $337.70 million for the quarter, compared to analyst estimates of $365.33 million. RPC had a return on equity of 11.36% and a net margin of 8.07%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.08 earnings per share. As a group, equities research analysts predict that RPC, Inc. will post 0.43 earnings per share for the current year.

RPC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 11th will be issued a dividend of $0.04 per share. The ex-dividend date is Friday, November 8th. This represents a $0.16 annualized dividend and a yield of 2.79%. RPC’s dividend payout ratio is presently 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.