Barclays PLC Has $1.16 Million Stake in RPC, Inc. (NYSE:RES)

Barclays PLC grew its position in RPC, Inc. (NYSE:RES) by 230.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 182,943 shares of the oil and gas company’s stock after buying an additional 127,525 shares during the quarter. Barclays PLC’s holdings in RPC were worth $1,163,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in RES. Pacer Advisors Inc. increased its position in RPC by 38.9% during the 3rd quarter. Pacer Advisors Inc. now owns 12,029,993 shares of the oil and gas company’s stock worth $76,511,000 after purchasing an additional 3,371,490 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of RPC by 7.9% during the second quarter. Dimensional Fund Advisors LP now owns 10,456,497 shares of the oil and gas company’s stock worth $65,353,000 after buying an additional 769,578 shares during the last quarter. State Street Corp lifted its stake in shares of RPC by 6.2% in the 3rd quarter. State Street Corp now owns 4,202,844 shares of the oil and gas company’s stock valued at $26,730,000 after acquiring an additional 245,372 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of RPC by 24.1% in the 2nd quarter. American Century Companies Inc. now owns 2,236,307 shares of the oil and gas company’s stock valued at $13,977,000 after acquiring an additional 434,849 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of RPC by 48.7% during the 2nd quarter. Victory Capital Management Inc. now owns 2,004,789 shares of the oil and gas company’s stock valued at $12,530,000 after acquiring an additional 656,446 shares in the last quarter. Institutional investors own 41.06% of the company’s stock.

RPC Stock Performance

Shares of RES opened at $5.78 on Monday. The firm has a market cap of $1.24 billion, a PE ratio of 10.32 and a beta of 1.61. RPC, Inc. has a 52-week low of $5.54 and a 52-week high of $8.19. The business’s 50 day moving average price is $6.03 and its two-hundred day moving average price is $6.25.

RPC (NYSE:RES) last released its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). RPC had a return on equity of 11.36% and a net margin of 8.07%. The company had revenue of $337.70 million for the quarter, compared to the consensus estimate of $365.33 million. During the same period last year, the company earned $0.08 EPS. RPC’s revenue for the quarter was up 2.2% compared to the same quarter last year. Research analysts predict that RPC, Inc. will post 0.43 EPS for the current fiscal year.

RPC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 11th were issued a $0.04 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.77%. RPC’s dividend payout ratio is presently 28.57%.

Analyst Ratings Changes

Several research firms have recently weighed in on RES. Susquehanna reduced their price target 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 target price 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.

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.