Royce & Associates LP Has $8.70 Million Stock Position in RPC, Inc. (NYSE:RES)

Royce & Associates LP cut its holdings in RPC, Inc. (NYSE:RES) by 0.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,367,873 shares of the oil and gas company’s stock after selling 11,397 shares during the quarter. Royce & Associates LP’s holdings in RPC were worth $8,700,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in RES. Swiss National Bank grew its stake in shares of RPC by 1.4% during the 1st quarter. Swiss National Bank now owns 192,000 shares of the oil and gas company’s stock worth $1,486,000 after acquiring an additional 2,600 shares during the period. Entropy Technologies LP purchased a new stake in RPC during the 1st quarter worth about $148,000. UniSuper Management Pty Ltd purchased a new stake in RPC during the 1st quarter worth about $485,000. EntryPoint Capital LLC purchased a new stake in RPC during the 1st quarter worth about $110,000. Finally, BOKF NA lifted its holdings in RPC by 115.1% during the 1st quarter. BOKF NA now owns 31,789 shares of the oil and gas company’s stock worth $248,000 after purchasing an additional 17,013 shares in the last quarter. 41.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Susquehanna dropped their price objective on RPC from $6.50 to $6.00 and set a “neutral” rating on the stock in a report on Friday, October 25th. Stifel Nicolaus reduced their price objective on RPC from $8.00 to $7.00 and set a “hold” rating on the stock in a research report on Friday, October 11th.

RPC Price Performance

RES opened at $5.73 on Monday. The firm has a market cap of $1.23 billion, a price-to-earnings 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. The stock’s 50 day simple moving average is $6.30 and its 200 day simple moving average is $6.39.

RPC (NYSE:RES) last released its earnings results on Thursday, October 24th. The oil and gas company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). The firm had revenue of $337.70 million during the quarter, compared to analysts’ expectations of $365.33 million. RPC had a net margin of 8.07% and a return on equity of 11.36%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.08 EPS. As a group, sell-side analysts anticipate that RPC, Inc. will post 0.43 EPS for the current year.

RPC Announces Dividend

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

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.