Empowered Funds LLC Has $5.62 Million Position in RPC, Inc. (NYSE:RES)

Empowered Funds LLC increased its holdings in shares of RPC, Inc. (NYSE:RES) by 5.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 883,490 shares of the oil and gas company’s stock after buying an additional 45,024 shares during the period. Empowered Funds LLC owned about 0.41% of RPC worth $5,619,000 at the end of the most recent quarter.

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 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 purchasing an additional 769,578 shares during the period. Victory Capital Management Inc. lifted its holdings in RPC by 48.7% during the 2nd quarter. Victory Capital Management Inc. now owns 2,004,789 shares of the oil and gas company’s stock worth $12,530,000 after buying an additional 656,446 shares during the period. Edgestream Partners L.P. bought a new stake in shares of RPC in the 2nd quarter valued at about $3,814,000. Marshall Wace LLP acquired a new stake in shares of RPC in the second quarter valued at about $3,349,000. Finally, American Century Companies Inc. raised its position in shares of RPC by 24.1% during the second quarter. American Century Companies Inc. now owns 2,236,307 shares of the oil and gas company’s stock worth $13,977,000 after acquiring an additional 434,849 shares during the last quarter. 41.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Susquehanna reduced 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 objective on shares of RPC from $8.00 to $7.00 and set a “hold” rating for the company in a research report on Friday, October 11th.

RPC Stock Performance

Shares of RES stock opened at $5.73 on Friday. The company has a market cap of $1.23 billion, a P/E ratio of 10.23 and a beta of 1.58. RPC, Inc. has a fifty-two week low of $5.63 and a fifty-two week high of $8.19. The stock has a 50 day simple moving average of $6.30 and a two-hundred day simple moving average of $6.39.

RPC (NYSE:RES) last released 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). The company 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 was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.08 EPS. On average, 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. Stockholders of record on Monday, November 11th will be given a dividend of $0.04 per share. The ex-dividend date is Friday, November 8th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.79%. RPC’s dividend payout ratio (DPR) is presently 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.