Van ECK Associates Corp Has $14.04 Million Stock Holdings in RPC, Inc. (NYSE:RES)

Van ECK Associates Corp reduced its position in shares of RPC, Inc. (NYSE:RES - Free Report) by 18.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,231,736 shares of the oil and gas company's stock after selling 516,059 shares during the period. Van ECK Associates Corp owned about 1.04% of RPC worth $14,038,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. International Assets Investment Management LLC grew its holdings in shares of RPC by 540.4% during the third quarter. International Assets Investment Management LLC now owns 4,560 shares of the oil and gas company's stock worth $29,000 after buying an additional 3,848 shares during the last quarter. CWM LLC increased its position in RPC by 256.5% during the second quarter. CWM LLC now owns 5,112 shares of the oil and gas company's stock worth $32,000 after buying an additional 3,678 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of RPC during the 2nd quarter worth about $44,000. Vanguard Personalized Indexing Management LLC grew its stake in RPC by 38.7% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,821 shares of the oil and gas company's stock worth $93,000 after acquiring an additional 4,136 shares during the period. Finally, nVerses Capital LLC increased its stake in shares of RPC by 352.9% during the 2nd quarter. nVerses Capital LLC now owns 15,400 shares of the oil and gas company's stock valued at $96,000 after acquiring an additional 12,000 shares during the last quarter. 41.06% of the stock is owned by institutional investors and hedge funds.

RPC Stock Performance

RPC stock traded up $0.58 during trading hours on Wednesday, hitting $6.46. 2,025,806 shares of the stock were exchanged, compared to its average volume of 1,721,224. RPC, Inc. has a 12 month low of $5.63 and a 12 month high of $8.19. The stock has a market capitalization of $1.39 billion, a P/E ratio of 11.54 and a beta of 1.58. The business's 50-day moving average is $6.33 and its two-hundred day moving average is $6.47.

RPC (NYSE:RES - Get Free Report) last issued its 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 for the quarter, compared to the consensus estimate of $365.33 million. During the same quarter last year, the business posted $0.08 EPS. RPC's quarterly revenue was up 2.2% on a year-over-year basis. On average, equities analysts predict that RPC, Inc. will post 0.43 earnings per share for the current fiscal year.

RPC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 11th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.16 annualized dividend and a yield of 2.48%. RPC's dividend payout ratio (DPR) is presently 28.57%.

Analyst Upgrades and Downgrades

RES has been the topic of several analyst reports. Susquehanna dropped their target price on RPC from $6.50 to $6.00 and set a "neutral" rating on the stock in a report on Friday, October 25th. Stifel Nicolaus decreased their price target on RPC from $8.00 to $7.00 and set a "hold" rating for the company in a research note on Friday, October 11th. Finally, Citigroup reduced their price target on shares of RPC from $6.75 to $5.25 and set a "sell" rating for the company in a research report on Wednesday, July 10th.

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.