11,495 Shares in RPC, Inc. (NYSE:RES) Acquired by Townsquare Capital LLC

Townsquare Capital LLC purchased a new stake in RPC, Inc. (NYSE:RES) during the third quarter, HoldingsChannel.com reports. The fund purchased 11,495 shares of the oil and gas company’s stock, valued at approximately $73,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. International Assets Investment Management LLC grew its holdings in shares of RPC by 540.4% during 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 buying an additional 3,848 shares in the last quarter. CWM LLC boosted its position in RPC by 256.5% during the 2nd quarter. CWM LLC now owns 5,112 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 3,678 shares during the last quarter. Innealta Capital LLC bought a new position in shares of RPC during the 2nd quarter worth approximately $44,000. Vanguard Personalized Indexing Management LLC raised its holdings in shares of RPC by 38.7% in 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 last quarter. Finally, nVerses Capital LLC lifted its position in shares of RPC by 352.9% in the second quarter. nVerses Capital LLC now owns 15,400 shares of the oil and gas company’s stock worth $96,000 after purchasing an additional 12,000 shares in the last quarter. Institutional investors and hedge funds own 41.06% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Stifel Nicolaus decreased their target price on shares of RPC from $8.00 to $7.00 and set a “hold” rating for the company in a research report on Friday, October 11th. Susquehanna decreased their price objective 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 $5.84 on Monday. RPC, Inc. has a 52-week low of $5.63 and a 52-week high of $8.19. The firm’s 50-day moving average is $6.31 and its 200-day moving average is $6.33. The stock has a market cap of $1.26 billion, a price-to-earnings 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 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). RPC had a net margin of 8.07% and a return on equity of 11.36%. The firm 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 company earned $0.08 earnings per share. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. Sell-side analysts predict that RPC, Inc. will post 0.43 EPS for the current fiscal 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 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend is Friday, November 8th. RPC’s dividend payout ratio (DPR) is 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.