Charles Schwab Investment Management Inc. Buys 106,108 Shares of RPC, Inc. (NYSE:RES)

Charles Schwab Investment Management Inc. boosted its position in shares of RPC, Inc. (NYSE:RES - Free Report) by 7.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,509,478 shares of the oil and gas company's stock after buying an additional 106,108 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.70% of RPC worth $9,600,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Pacer Advisors Inc. boosted its stake in shares of RPC by 38.9% during the 3rd quarter. Pacer Advisors Inc. now owns 12,029,993 shares of the oil and gas company's stock valued at $76,511,000 after purchasing an additional 3,371,490 shares in the last quarter. Empowered Funds LLC boosted its position in RPC by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 883,490 shares of the oil and gas company's stock valued at $5,619,000 after acquiring an additional 45,024 shares in the last quarter. Aigen Investment Management LP bought a new stake in RPC during the 3rd quarter valued at approximately $229,000. Entropy Technologies LP grew its holdings in shares of RPC by 144.5% during the 3rd quarter. Entropy Technologies LP now owns 28,256 shares of the oil and gas company's stock worth $180,000 after acquiring an additional 16,700 shares during the period. Finally, Versor Investments LP bought a new position in shares of RPC in the 3rd quarter worth approximately $159,000. 41.06% of the stock is currently owned by hedge funds and other institutional investors.

RPC Stock Performance

Shares of RES stock traded up $0.30 during mid-day trading on Tuesday, hitting $6.14. The company's stock had a trading volume of 1,249,304 shares, compared to its average volume of 1,676,826. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 11.23 and a beta of 1.61. RPC, Inc. has a 52-week low of $5.63 and a 52-week high of $8.19. The business has a 50-day moving average price of $6.30 and a 200 day moving average price of $6.32.

RPC (NYSE:RES - Get Free Report) last posted its earnings results on Thursday, October 24th. The oil and gas company reported $0.09 earnings per share (EPS) 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 the consensus estimate of $365.33 million. During the same quarter in the prior year, the company posted $0.08 EPS. RPC's revenue was up 2.2% on a year-over-year basis. 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 will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 11th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Friday, November 8th. RPC's payout ratio is currently 28.57%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Stifel Nicolaus dropped their price target 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 cut their price objective 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.

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.