Hotchkis & Wiley Capital Management LLC Makes New Investment in RPC, Inc. (NYSE:RES)

Hotchkis & Wiley Capital Management LLC purchased a new position in RPC, Inc. (NYSE:RES - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 930,380 shares of the oil and gas company's stock, valued at approximately $5,917,000. Hotchkis & Wiley Capital Management LLC owned about 0.43% of RPC at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in RES. International Assets Investment Management LLC raised its stake in shares of RPC by 540.4% in 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 purchasing an additional 3,848 shares in the last quarter. CWM LLC increased its holdings in shares of RPC by 256.5% in the 2nd quarter. CWM LLC now owns 5,112 shares of the oil and gas company's stock valued at $32,000 after acquiring an additional 3,678 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of RPC during the 2nd quarter valued at approximately $44,000. Paloma Partners Management Co acquired a new position in RPC in the third quarter worth $69,000. Finally, Townsquare Capital LLC acquired a new position in RPC in the third quarter worth $73,000. 41.06% of the stock is owned by institutional investors and hedge funds.

RPC Price Performance

Shares of RES stock traded down $0.54 during trading hours on Friday, reaching $5.84. The stock had a trading volume of 1,714,120 shares, compared to its average volume of 1,679,657. The firm has a 50-day simple moving average of $6.32 and a 200-day simple moving average of $6.35. The firm has a market capitalization of $1.26 billion, a PE ratio of 10.73 and a beta of 1.61. RPC, Inc. has a twelve month low of $5.63 and a twelve month high of $8.19.

RPC (NYSE:RES - Get Free Report) last issued 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). The business had revenue of $337.70 million during the quarter, compared to the consensus estimate of $365.33 million. RPC had a return on equity of 11.36% and a net margin of 8.07%. The business's quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the company earned $0.08 earnings per share. On average, equities analysts anticipate that RPC, Inc. will post 0.43 earnings per share for the current year.

RPC Dividend Announcement

The business 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 $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 yield of 2.74%. RPC's dividend payout ratio is presently 28.57%.

Wall Street Analyst Weigh In

RES has been the topic of a number of recent research reports. Susquehanna reduced their price target 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 lowered their target price on RPC from $8.00 to $7.00 and set a "hold" rating for the company in a report on Friday, October 11th.

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.