Martingale Asset Management L P Has $320,000 Holdings in RPC, Inc. (NYSE:RES)

Martingale Asset Management L P decreased its position in shares of RPC, Inc. (NYSE:RES) by 55.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 50,283 shares of the oil and gas company’s stock after selling 62,937 shares during the quarter. Martingale Asset Management L P’s holdings in RPC were worth $320,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of RES. International Assets Investment Management LLC raised its position 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 valued at $29,000 after buying an additional 3,848 shares in the last quarter. CWM LLC raised 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 valued at $32,000 after purchasing an additional 3,678 shares in the last quarter. Innealta Capital LLC acquired a new position in RPC during the second quarter valued at approximately $44,000. Townsquare Capital LLC bought a new stake in RPC during the third quarter worth $73,000. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in shares of 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 purchasing an additional 4,136 shares in the last quarter. 41.06% of the stock is currently owned by institutional investors and hedge funds.

RPC Stock Performance

NYSE RES opened at $6.44 on Wednesday. The firm’s fifty day moving average price is $6.32 and its two-hundred day moving average price is $6.35. The stock has a market cap of $1.38 billion, a PE ratio of 11.48 and a beta of 1.61. RPC, Inc. has a fifty-two week low of $5.63 and a fifty-two week high of $8.19.

RPC (NYSE:RES) last issued its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.09 earnings per share 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 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 prior year, the firm earned $0.08 EPS. The company’s revenue was up 2.2% on a year-over-year basis. As a group, sell-side analysts predict that RPC, Inc. will post 0.43 earnings per share for the current fiscal year.

RPC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 11th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Friday, November 8th. RPC’s dividend payout ratio is currently 28.57%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RES. Susquehanna lowered their price target on RPC from $6.50 to $6.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Stifel Nicolaus lowered their target price on RPC from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Friday, October 11th.

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.