Public Sector Pension Investment Board Sells 10,600 Shares of RPC, Inc. (NYSE:RES)

Public Sector Pension Investment Board trimmed its stake in RPC, Inc. (NYSE:RES) by 5.7% during the third quarter, Holdings Channel reports. The fund owned 175,260 shares of the oil and gas company’s stock after selling 10,600 shares during the quarter. Public Sector Pension Investment Board’s holdings in RPC were worth $1,115,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in RES. 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 worth $29,000 after acquiring an additional 3,848 shares during the last quarter. CWM LLC grew its position in RPC by 256.5% during the second quarter. CWM LLC now owns 5,112 shares of the oil and gas company’s stock worth $32,000 after buying an additional 3,678 shares in the last quarter. Innealta Capital LLC acquired a new position in RPC in the 2nd quarter valued at approximately $44,000. Townsquare Capital LLC acquired a new stake in shares of RPC during the 3rd quarter worth approximately $73,000. Finally, Vanguard Personalized Indexing Management LLC increased its position in shares of RPC by 38.7% during 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 purchasing an additional 4,136 shares during the period. Institutional investors own 41.06% of the company’s stock.

Analyst Upgrades and Downgrades

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

RPC Stock Performance

Shares of NYSE:RES opened at $5.84 on Friday. The company’s fifty day moving average is $6.31 and its 200-day moving average is $6.33. RPC, Inc. has a 52 week low of $5.63 and a 52 week high of $8.19. The company has a market capitalization of $1.26 billion, a PE ratio of 10.43 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 the consensus estimate of $0.13 by ($0.04). RPC had a return on equity of 11.36% and a net margin of 8.07%. The firm had revenue of $337.70 million for the quarter, compared to the consensus estimate of $365.33 million. During the same period in the prior year, the company posted $0.08 earnings per share. RPC’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, analysts forecast that RPC, Inc. will post 0.43 EPS 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 $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend is Friday, November 8th. RPC’s dividend payout ratio 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.