RPC, Inc. (NYSE:RES) Shares Acquired by Entropy Technologies LP

Entropy Technologies LP increased its holdings in RPC, Inc. (NYSE:RES) by 144.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,256 shares of the oil and gas company’s stock after acquiring an additional 16,700 shares during the quarter. Entropy Technologies LP’s holdings in RPC were worth $180,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its stake in RPC by 7.9% in the second quarter. Dimensional Fund Advisors LP now owns 10,456,497 shares of the oil and gas company’s stock valued at $65,353,000 after purchasing an additional 769,578 shares during the period. American Century Companies Inc. lifted its position in 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 acquiring an additional 434,849 shares during the period. Victory Capital Management Inc. grew its stake in shares of RPC by 48.7% in the 2nd quarter. Victory Capital Management Inc. now owns 2,004,789 shares of the oil and gas company’s stock valued at $12,530,000 after purchasing an additional 656,446 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of RPC by 55.3% in the second quarter. AQR Capital Management LLC now owns 692,169 shares of the oil and gas company’s stock valued at $4,326,000 after purchasing an additional 246,482 shares during the period. Finally, Edgestream Partners L.P. purchased a new stake in shares of RPC during the second quarter worth approximately $3,814,000. Hedge funds and other institutional investors own 41.06% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on RES shares. Stifel Nicolaus lowered their price objective on shares of RPC from $8.00 to $7.00 and set a “hold” rating on the stock in a research report on Friday, October 11th. Susquehanna lowered their target price 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 Price Performance

RES opened at $5.73 on Monday. The business has a 50 day simple moving average of $6.30 and a 200-day simple moving average of $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 P/E ratio of 10.23 and a beta of 1.58.

RPC (NYSE:RES) last announced its quarterly 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 during the quarter, compared to analysts’ expectations of $365.33 million. RPC had a net margin of 8.07% and a return on equity of 11.36%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.08 EPS. Research analysts anticipate that RPC, Inc. will post 0.43 EPS for the current year.

RPC Announces Dividend

The business 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 dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.79%. RPC’s payout ratio is 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.