361 Capital LLC bought a new position in RPC, Inc. (NYSE:RES) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 200,070 shares of the oil and gas company’s stock, valued at approximately $4,043,000. 361 Capital LLC owned about 0.09% of RPC as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its holdings in shares of RPC by 7.6% in the second quarter. The Manufacturers Life Insurance Company now owns 6,514 shares of the oil and gas company’s stock worth $132,000 after purchasing an additional 459 shares during the last quarter. Pacer Advisors Inc. increased its holdings in RPC by 22.0% in the 1st quarter. Pacer Advisors Inc. now owns 10,144 shares of the oil and gas company’s stock worth $186,000 after buying an additional 1,830 shares in the last quarter. BNP Paribas Arbitrage SA increased its holdings in RPC by 40.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 10,503 shares of the oil and gas company’s stock worth $192,000 after buying an additional 3,048 shares in the last quarter. Bbva Compass Bancshares Inc. bought a new stake in RPC in the 2nd quarter worth about $219,000. Finally, Amalgamated Bank bought a new stake in RPC in the 2nd quarter worth about $223,000. Hedge funds and other institutional investors own 38.17% of the company’s stock.

Several equities research analysts recently commented on RES shares. Jefferies Group LLC set a $26.00 price objective on RPC and gave the stock a “buy” rating in a report on Saturday, June 17th. Seaport Global Securities downgraded RPC from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $25.00 to $20.00 in a report on Wednesday, June 21st. Morgan Stanley reduced their price objective on RPC from $24.00 to $23.00 and set an “equal weight” rating for the company in a report on Wednesday, June 21st. Piper Jaffray Companies reiterated a “neutral” rating and issued a $20.50 price objective (up from $18.75) on shares of RPC in a report on Wednesday, July 12th. Finally, Zacks Investment Research downgraded RPC from a “buy” rating to a “hold” rating in a report on Tuesday, July 18th. Thirteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $23.36.

RPC, Inc. (RES) traded down 0.26% on Tuesday, reaching $23.00. The company had a trading volume of 508,926 shares. The stock’s 50 day moving average is $21.74 and its 200-day moving average is $19.98. RPC, Inc. has a 1-year low of $16.48 and a 1-year high of $25.00. The stock’s market capitalization is $5.00 billion.

RPC (NYSE:RES) last issued its quarterly earnings data on Wednesday, July 26th. The oil and gas company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.14 by $0.06. RPC had a negative return on equity of 1.74% and a negative net margin of 1.15%. The company had revenue of $399.00 million for the quarter, compared to analyst estimates of $415.65 million. During the same period last year, the company earned ($0.23) earnings per share. RPC’s quarterly revenue was up 179.0% compared to the same quarter last year. On average, equities analysts predict that RPC, Inc. will post $0.82 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 11th. Shareholders of record on Thursday, August 10th were issued a $0.06 dividend. This is a positive change from RPC’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a yield of 1.04%. The ex-dividend date was Tuesday, August 8th. RPC’s dividend payout ratio (DPR) is presently -183.30%.

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RPC Company Profile

RPC, Inc (RPC) is a holding company for several oilfield services companies. The Company provides a range of specialized oilfield services and equipment primarily to independent oil and gas companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the southwest, mid-continent, Gulf of Mexico, Rocky Mountain and Appalachian regions, and in selected international markets.

Institutional Ownership by Quarter for RPC (NYSE:RES)

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