RPC, Inc. (NYSE:RES) Shares Purchased by Pacer Advisors Inc.

Pacer Advisors Inc. raised its stake in shares of RPC, Inc. (NYSE:RES) by 38.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,029,993 shares of the oil and gas company’s stock after buying an additional 3,371,490 shares during the quarter. Pacer Advisors Inc. owned about 0.06% of RPC worth $76,511,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in shares of RPC by 7.9% during the 2nd 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. increased its stake in 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 last quarter. Edgestream Partners L.P. purchased a new position in shares of RPC in the 2nd quarter worth about $3,814,000. Marshall Wace LLP acquired a new position in shares of RPC in the 2nd quarter valued at about $3,349,000. Finally, American Century Companies Inc. grew its holdings in shares of RPC by 24.1% during the 2nd quarter. American Century Companies Inc. now owns 2,236,307 shares of the oil and gas company’s stock worth $13,977,000 after purchasing an additional 434,849 shares during the period. Hedge funds and other institutional investors own 41.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Stifel Nicolaus cut their price objective 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 report on Friday, October 25th.

RPC Stock Up 3.0 %

Shares of RES opened at $6.15 on Friday. The business’s 50 day moving average is $6.31 and its two-hundred day moving average is $6.38. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 10.98 and a beta of 1.58. RPC, Inc. has a 52-week low of $5.63 and a 52-week high of $8.19.

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

RPC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Monday, November 11th will be paid a dividend of $0.04 per share. The ex-dividend date is Friday, November 8th. This represents a $0.16 annualized dividend and a yield of 2.60%. RPC’s dividend payout ratio (DPR) is 28.57%.

About RPC

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.