Barclays PLC Has $422,000 Stake in RPC, Inc. (NYSE:RES)

Barclays PLC increased its position in shares of RPC, Inc. (NYSE:RES) by 25.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 54,959 shares of the oil and gas company’s stock after buying an additional 11,155 shares during the period. Barclays PLC’s holdings in RPC were worth $422,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RES. Millennium Management LLC boosted its position in RPC by 219.4% during the second quarter. Millennium Management LLC now owns 3,203,185 shares of the oil and gas company’s stock worth $22,134,000 after purchasing an additional 2,200,276 shares during the period. Vanguard Group Inc. boosted its position in shares of RPC by 14.0% in the third quarter. Vanguard Group Inc. now owns 9,644,518 shares of the oil and gas company’s stock valued at $66,838,000 after acquiring an additional 1,180,773 shares during the period. BlackRock Inc. boosted its position in shares of RPC by 8.6% in the third quarter. BlackRock Inc. now owns 12,745,769 shares of the oil and gas company’s stock valued at $88,327,000 after acquiring an additional 1,013,630 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of RPC by 337.1% in the second quarter. Goldman Sachs Group Inc. now owns 1,030,490 shares of the oil and gas company’s stock valued at $7,121,000 after acquiring an additional 794,755 shares during the period. Finally, State Street Corp boosted its position in shares of RPC by 29.1% in the first quarter. State Street Corp now owns 3,306,536 shares of the oil and gas company’s stock valued at $35,281,000 after acquiring an additional 744,744 shares during the period. 34.26% of the stock is owned by institutional investors.

RPC Stock Up 0.4 %

RES opened at $8.17 on Wednesday. RPC, Inc. has a twelve month low of $6.24 and a twelve month high of $11.40. The company has a 50-day simple moving average of $8.00 and a 200 day simple moving average of $7.89. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 6.05 and a beta of 1.79.

RPC (NYSE:RES) last posted its quarterly earnings data on Wednesday, July 26th. The oil and gas company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.13). RPC had a return on equity of 34.87% and a net margin of 15.97%. The firm had revenue of $415.90 million for the quarter, compared to the consensus estimate of $480.20 million. During the same period in the prior year, the company earned $0.22 EPS. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. Sell-side analysts anticipate that RPC, Inc. will post 1.18 EPS for the current fiscal year.

RPC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Shareholders of record on Thursday, August 10th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend is Wednesday, August 9th. RPC’s payout ratio is 11.85%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Susquehanna reduced their target price on shares of RPC from $8.00 to $7.50 in a research report on Friday, June 2nd. StockNews.com assumed coverage on shares of RPC in a research report on Thursday, August 17th. They issued a “hold” rating for the company. TheStreet raised shares of RPC from a “c+” rating to a “b” rating in a research report on Wednesday, July 26th. Finally, Citigroup cut shares of RPC from a “neutral” rating to a “sell” rating and reduced their target price for the company from $8.25 to $7.00 in a research report on Friday, June 16th.

RPC Company Profile

RPC, Inc, through its subsidiaries, provides 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. It 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.