Barclays PLC Purchases 127,525 Shares of RPC, Inc. (NYSE:RES)

Barclays PLC boosted its position in RPC, Inc. (NYSE:RES - Free Report) by 230.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 182,943 shares of the oil and gas company's stock after buying an additional 127,525 shares during the quarter. Barclays PLC owned approximately 0.09% of RPC worth $1,163,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. nVerses Capital LLC grew 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 valued at $96,000 after purchasing an additional 12,000 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of RPC by 48.7% in the second 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 during the period. Gallacher Capital Management LLC grew its stake in RPC by 66.2% during the second quarter. Gallacher Capital Management LLC now owns 32,195 shares of the oil and gas company's stock valued at $201,000 after acquiring an additional 12,820 shares in the last quarter. Texas Permanent School Fund Corp increased its holdings in RPC by 115.1% during the 2nd quarter. Texas Permanent School Fund Corp now owns 160,197 shares of the oil and gas company's stock worth $1,001,000 after acquiring an additional 85,738 shares during the period. Finally, American Century Companies Inc. lifted its stake in 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 worth $13,977,000 after purchasing an additional 434,849 shares in the last quarter. 41.06% of the stock is owned by hedge funds and other institutional investors.

RPC Stock Performance

RES traded up $0.07 on Monday, reaching $5.85. The company had a trading volume of 1,194,152 shares, compared to its average volume of 1,687,464. RPC, Inc. has a 52-week low of $5.54 and a 52-week high of $8.19. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 10.45 and a beta of 1.61. The business has a 50 day simple moving average of $6.03 and a 200 day simple moving average of $6.25.

RPC (NYSE:RES - Get Free Report) last posted its quarterly earnings data 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 net margin of 8.07% and a return on equity of 11.36%. The company had revenue of $337.70 million for the quarter, compared to analysts' expectations of $365.33 million. During the same quarter last year, the business posted $0.08 EPS. The business's quarterly revenue was up 2.2% compared to the same quarter last year. As a group, equities research analysts predict that RPC, Inc. will post 0.43 EPS for the current fiscal year.

RPC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 11th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 2.74%. The ex-dividend date of this dividend was Friday, November 8th. RPC's payout ratio is currently 28.57%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on RES. Stifel Nicolaus reduced their price target 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 dropped their price objective on RPC from $6.50 to $6.00 and set a "neutral" rating for the company in a research note on Friday, October 25th.

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.