Pacer Advisors Inc. Increases Stock Position in RPC, Inc. (NYSE:RES)

Pacer Advisors Inc. increased its position in RPC, Inc. (NYSE:RES - Free Report) by 38.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 12,029,993 shares of the oil and gas company's stock after buying an additional 3,371,490 shares during the period. Pacer Advisors Inc. owned about 5.60% of RPC worth $76,511,000 at the end of the most recent quarter.

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

RPC Stock Up 4.6 %

RES traded up $0.28 on Friday, hitting $6.43. The company had a trading volume of 1,589,331 shares, compared to its average volume of 1,699,162. RPC, Inc. has a 12-month low of $5.63 and a 12-month high of $8.19. The business's fifty day simple moving average is $6.32 and its 200 day simple moving average is $6.37. The company has a market cap of $1.38 billion, a PE ratio of 11.48 and a beta of 1.58.

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

RPC Dividend Announcement

The company also recently disclosed 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. This represents a $0.16 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Friday, November 8th. RPC's dividend payout ratio (DPR) is currently 28.57%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Stifel Nicolaus decreased their target price on RPC from $8.00 to $7.00 and set a "hold" rating on the stock in a research report on Friday, October 11th. Susquehanna lowered their target price on RPC from $6.50 to $6.00 and set a "neutral" rating for the company in a research report on Friday, October 25th.

RPC 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.