RPC, Inc. (NYSE:RES) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System reduced its stake in shares of RPC, Inc. (NYSE:RES) by 6.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,900 shares of the oil and gas company’s stock after selling 2,600 shares during the period. Louisiana State Employees Retirement System’s holdings in RPC were worth $254,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Empowered Funds LLC lifted its position in shares of RPC by 31.9% in the 1st quarter. Empowered Funds LLC now owns 777,986 shares of the oil and gas company’s stock worth $6,022,000 after buying an additional 188,377 shares during the last quarter. Texas Permanent School Fund Corp lifted its position in shares of 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 worth $1,001,000 after buying an additional 85,738 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of RPC by 17.6% in the 1st 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 during the last quarter. Creative Planning lifted its position in shares of RPC by 876.5% in the 2nd quarter. Creative Planning now owns 241,471 shares of the oil and gas company’s stock worth $1,509,000 after buying an additional 216,742 shares during the last quarter. Finally, Inspire Investing LLC lifted its position in shares of RPC by 15.3% in the 3rd quarter. Inspire Investing LLC now owns 64,494 shares of the oil and gas company’s stock worth $410,000 after buying an additional 8,552 shares during the last quarter. 41.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Susquehanna reduced their price target on shares of RPC from $6.50 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Citigroup cut their price objective on shares of RPC from $6.75 to $5.25 and set a “sell” rating on the stock in a research report on Wednesday, July 10th. Finally, Stifel Nicolaus cut their price objective on shares of RPC from $8.00 to $7.00 and set a “hold” rating on the stock in a research report on Friday, October 11th.

RPC Stock Up 9.9 %

Shares of NYSE:RES opened at $6.46 on Thursday. The company has a market cap of $1.39 billion, a PE ratio of 11.54 and a beta of 1.58. The company’s 50-day moving average price is $6.33 and its 200 day moving average price is $6.47. RPC, Inc. has a fifty-two week low of $5.63 and a fifty-two week high of $8.19.

RPC (NYSE:RES) last issued its quarterly earnings results 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). The company had revenue of $337.70 million during 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 company’s revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.08 earnings per share. As a group, equities analysts anticipate that RPC, Inc. will post 0.43 EPS for the current year.

RPC Announces Dividend

The business also recently declared 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 2.48%. The ex-dividend date of this dividend is Friday, November 8th. RPC’s dividend payout ratio is currently 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.