RPC, Inc. (NYSE:RES) Shares Sold by PDT Partners LLC

PDT Partners LLC decreased its position in RPC, Inc. (NYSE:RES) by 55.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 66,320 shares of the oil and gas company’s stock after selling 81,578 shares during the period. PDT Partners LLC’s holdings in RPC were worth $422,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Verition Fund Management LLC grew its holdings in RPC by 58.8% in the third quarter. Verition Fund Management LLC now owns 150,836 shares of the oil and gas company’s stock valued at $959,000 after purchasing an additional 55,877 shares during the last quarter. Townsquare Capital LLC purchased a new stake in shares of RPC in the third quarter valued at $73,000. BNP Paribas Financial Markets lifted its position in shares of RPC by 101.8% in the third quarter. BNP Paribas Financial Markets now owns 215,567 shares of the oil and gas company’s stock valued at $1,371,000 after acquiring an additional 108,737 shares in the last quarter. Quantbot Technologies LP lifted its position in shares of RPC by 129.6% in the third quarter. Quantbot Technologies LP now owns 123,593 shares of the oil and gas company’s stock valued at $786,000 after acquiring an additional 69,757 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of RPC by 7.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,509,478 shares of the oil and gas company’s stock valued at $9,600,000 after acquiring an additional 106,108 shares in the last quarter. Institutional investors and hedge funds own 41.06% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Susquehanna reduced their price objective on RPC from $6.50 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, October 25th. Stifel Nicolaus reduced their price objective on 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 Performance

NYSE RES opened at $6.44 on Wednesday. The business’s 50-day moving average price is $6.32 and its 200 day moving average price is $6.35. RPC, Inc. has a twelve month low of $5.63 and a twelve month high of $8.19. The company has a market capitalization of $1.38 billion, a PE ratio of 11.49 and a beta of 1.61.

RPC (NYSE:RES) last released its earnings results 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 business had revenue of $337.70 million for the quarter, compared to analysts’ expectations of $365.33 million. During the same quarter last year, the company posted $0.08 earnings per share. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. Equities analysts predict that RPC, Inc. will post 0.43 EPS for the current year.

RPC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 11th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.16 annualized dividend and a yield of 2.49%. RPC’s dividend payout ratio (DPR) is presently 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.