Martingale Asset Management L P cut its stake in shares of RPC, Inc. (NYSE:RES – Free Report) by 55.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 50,283 shares of the oil and gas company’s stock after selling 62,937 shares during the period. Martingale Asset Management L P’s holdings in RPC were worth $320,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of the stock. International Assets Investment Management LLC boosted 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 valued at $29,000 after buying an additional 3,848 shares during the last quarter. CWM LLC lifted its stake in RPC by 256.5% in the second quarter. CWM LLC now owns 5,112 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 3,678 shares during the last quarter. Innealta Capital LLC bought a new position in shares of RPC in the 2nd quarter valued at about $44,000. Townsquare Capital LLC acquired a new position in shares of RPC during the 3rd quarter worth about $73,000. Finally, Vanguard Personalized Indexing Management LLC raised 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 during the period. 41.06% of the stock is currently owned by institutional investors.
RPC Price Performance
RPC stock opened at $6.44 on Wednesday. The company’s 50-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 P/E ratio of 11.48 and a beta of 1.61. RPC, Inc. has a twelve month low of $5.63 and a twelve month high of $8.19.
RPC Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Monday, November 11th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend is Friday, November 8th. RPC’s dividend payout ratio is currently 28.57%.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on RES shares. Susquehanna reduced 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 reduced 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.
Get Our Latest Analysis on RPC
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.
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