HighTower Advisors LLC Buys 2,288 Shares of RPC, Inc. (NYSE:RES)

HighTower Advisors LLC raised its position in shares of RPC, Inc. (NYSE:RES) by 6.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,082 shares of the oil and gas company’s stock after acquiring an additional 2,288 shares during the quarter. HighTower Advisors LLC’s holdings in RPC were worth $252,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Texas Permanent School Fund Corp boosted its position in shares of RPC by 115.1% during the second quarter. Texas Permanent School Fund Corp now owns 160,197 shares of the oil and gas company’s stock valued at $1,001,000 after purchasing an additional 85,738 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of RPC by 540.4% during the 3rd quarter. International Assets Investment Management LLC now owns 4,560 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 3,848 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of RPC by 101.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 215,567 shares of the oil and gas company’s stock worth $1,371,000 after buying an additional 108,737 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of RPC by 7.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,509,478 shares of the oil and gas company’s stock worth $9,600,000 after acquiring an additional 106,108 shares in the last quarter. Finally, Creative Planning lifted its position in RPC by 876.5% during the 2nd quarter. Creative Planning now owns 241,471 shares of the oil and gas company’s stock valued at $1,509,000 after acquiring an additional 216,742 shares during the period. Hedge funds and other institutional investors own 41.06% of the company’s stock.

RPC Price Performance

RES opened at $5.73 on Wednesday. The firm has a market cap of $1.23 billion, a PE ratio of 10.23 and a beta of 1.61. The stock has a 50-day moving average price of $6.08 and a 200-day moving average price of $6.26. RPC, Inc. has a 1 year low of $5.54 and a 1 year high of $8.19.

RPC (NYSE:RES) last released its quarterly earnings data 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 firm had revenue of $337.70 million for the quarter, compared to the consensus estimate of $365.33 million. RPC had a net margin of 8.07% and a return on equity of 11.36%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.08 earnings per share. As a group, sell-side analysts anticipate that RPC, Inc. will post 0.43 EPS for the current year.

RPC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 11th were given a $0.04 dividend. The ex-dividend date was Friday, November 8th. This represents a $0.16 annualized dividend and a yield of 2.79%. RPC’s dividend payout ratio (DPR) is presently 28.57%.

Analyst Ratings Changes

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