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

Empowered Funds LLC boosted its holdings in shares of RPC, Inc. (NYSE:RES) by 5.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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’s holdings in RPC were worth $5,619,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. International Assets Investment Management LLC raised its holdings in shares of RPC by 540.4% in the 3rd quarter. International Assets Investment Management LLC now owns 4,560 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 3,848 shares during the last quarter. CWM LLC boosted its position in shares of RPC by 256.5% during the second quarter. CWM LLC now owns 5,112 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 3,678 shares during the last quarter. Innealta Capital LLC bought a new stake in RPC during the second quarter worth $44,000. Vanguard Personalized Indexing Management LLC raised its position 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 valued at $93,000 after buying an additional 4,136 shares during the last quarter. Finally, nVerses Capital LLC lifted its stake in 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 in the last quarter. 41.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Stifel Nicolaus reduced their target price on shares of RPC from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Friday, October 11th. Susquehanna decreased their price objective on shares of RPC from $6.50 to $6.00 and set a “neutral” rating for the company in a research note on Friday, October 25th.

RPC Trading Down 3.0 %

NYSE:RES opened at $5.73 on Friday. The firm’s 50 day moving average is $6.30 and its 200 day moving average is $6.39. 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 $1.23 billion, a PE ratio of 10.23 and a beta of 1.58.

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

RPC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 11th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Friday, November 8th. RPC’s dividend payout ratio (DPR) is currently 28.57%.

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.