Pacer Advisors Inc. Acquires 3,371,490 Shares of RPC, Inc. (NYSE:RES)

Pacer Advisors Inc. lifted its position in RPC, Inc. (NYSE:RESFree Report) by 38.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,029,993 shares of the oil and gas company’s stock after acquiring an additional 3,371,490 shares during the period. Pacer Advisors Inc. owned 5.60% of RPC worth $76,511,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. UniSuper Management Pty Ltd purchased a new position in shares of RPC in the first quarter worth $485,000. EntryPoint Capital LLC purchased a new stake in RPC during the first quarter valued at approximately $110,000. BOKF NA lifted its position in RPC by 115.1% in the first quarter. BOKF NA now owns 31,789 shares of the oil and gas company’s stock worth $248,000 after buying an additional 17,013 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of RPC by 17.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 24,393 shares of the oil and gas company’s stock worth $189,000 after purchasing an additional 3,650 shares during the period. Finally, Hancock Whitney Corp boosted its position in shares of RPC by 14.9% during the first quarter. Hancock Whitney Corp now owns 43,979 shares of the oil and gas company’s stock valued at $340,000 after buying an additional 5,699 shares during the period. Institutional investors own 41.06% of the company’s stock.

RPC Price Performance

Shares of NYSE:RES opened at $6.15 on Friday. The business’s 50 day moving average price is $6.31 and its 200-day moving average price is $6.38. The firm has a market capitalization of $1.32 billion, a PE ratio of 10.98 and a beta of 1.58. RPC, Inc. has a 1 year low of $5.63 and a 1 year high of $8.19.

RPC (NYSE:RESGet Free Report) last posted its earnings results 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). The business had revenue of $337.70 million during the quarter, compared to analysts’ expectations of $365.33 million. RPC had a net margin of 8.07% and a return on equity of 11.36%. RPC’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 firm earned $0.08 EPS. As a group, analysts expect that RPC, Inc. will post 0.43 earnings per share for the current year.

RPC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 11th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.60%. RPC’s payout ratio is currently 28.57%.

Analyst Ratings Changes

RES has been the topic of a number of research reports. Susquehanna reduced their target price on shares of 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 cut 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.

Read Our Latest Stock Report on RES

About RPC

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for RPC (NYSE:RES)

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