PDT Partners LLC Has $422,000 Stake in RPC, Inc. (NYSE:RES)

PDT Partners LLC reduced its stake in RPC, Inc. (NYSE:RES - Free Report) by 55.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 66,320 shares of the oil and gas company's stock after selling 81,578 shares during the period. PDT Partners LLC's holdings in RPC were worth $422,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pacer Advisors Inc. increased its position in shares of RPC by 38.9% in the third quarter. Pacer Advisors Inc. now owns 12,029,993 shares of the oil and gas company's stock valued at $76,511,000 after acquiring an additional 3,371,490 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of RPC by 7.9% during the second quarter. Dimensional Fund Advisors LP now owns 10,456,497 shares of the oil and gas company's stock worth $65,353,000 after acquiring an additional 769,578 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of RPC by 48.7% during the second quarter. Victory Capital Management Inc. now owns 2,004,789 shares of the oil and gas company's stock worth $12,530,000 after acquiring an additional 656,446 shares during the period. Edgestream Partners L.P. bought a new stake in shares of RPC during the second quarter worth approximately $3,814,000. Finally, Marshall Wace LLP bought a new stake in shares of RPC during the second quarter worth approximately $3,349,000. 41.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

RES has been the subject of a number of research analyst reports. Stifel Nicolaus reduced their price objective on RPC from $8.00 to $7.00 and set a "hold" rating for the company in a report on Friday, October 11th. Susquehanna cut their price target on RPC from $6.50 to $6.00 and set a "neutral" rating for the company in a research note on Friday, October 25th.

RPC Price Performance

RES traded down $0.08 during trading on Wednesday, hitting $6.35. 1,281,862 shares of the stock traded hands, compared to its average volume of 1,683,516. RPC, Inc. has a twelve month low of $5.63 and a twelve month high of $8.19. The company has a market cap of $1.37 billion, a price-to-earnings ratio of 11.49 and a beta of 1.61. The business has a 50 day moving average price of $6.31 and a 200 day moving average price of $6.35.

RPC (NYSE:RES - Get Free Report) last announced its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.04). The firm had revenue of $337.70 million for the quarter, compared to analyst estimates of $365.33 million. RPC had a net margin of 8.07% and a return on equity of 11.36%. The firm's revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.08 earnings per share. On average, equities research analysts predict that RPC, Inc. will post 0.43 earnings per share for the current year.

RPC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 11th will be issued a $0.04 dividend. The ex-dividend date is Friday, November 8th. This represents a $0.16 dividend on an annualized basis and a yield of 2.52%. RPC's payout ratio is 28.57%.

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.