Cubist Systematic Strategies LLC Buys Shares of 11,700 RPC, Inc. (RES)

Cubist Systematic Strategies LLC bought a new position in shares of RPC, Inc. (NYSE:RES) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 11,700 shares of the oil and gas company’s stock, valued at approximately $290,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Alliancebernstein L.P. lifted its holdings in RPC by 58.4% during the 2nd quarter. Alliancebernstein L.P. now owns 9,040,717 shares of the oil and gas company’s stock worth $182,713,000 after buying an additional 3,333,619 shares in the last quarter. Vanguard Group Inc. lifted its holdings in RPC by 20.4% during the 2nd quarter. Vanguard Group Inc. now owns 6,076,306 shares of the oil and gas company’s stock worth $122,802,000 after buying an additional 1,028,001 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in RPC by 244.9% during the 3rd quarter. Victory Capital Management Inc. now owns 2,066,941 shares of the oil and gas company’s stock worth $51,239,000 after buying an additional 1,467,661 shares in the last quarter. Alyeska Investment Group L.P. acquired a new stake in RPC during the 3rd quarter worth approximately $47,921,000. Finally, Van ECK Associates Corp acquired a new stake in RPC during the 3rd quarter worth approximately $36,128,000. Institutional investors own 38.07% of the company’s stock.

In related news, Director Amy Rollins Kreisler purchased 5,000 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The shares were purchased at an average cost of $23.21 per share, for a total transaction of $116,050.00. Following the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at $116,050. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 73.50% of the stock is owned by company insiders.

Shares of RPC, Inc. (RES) opened at $26.23 on Friday. RPC, Inc. has a fifty-two week low of $16.63 and a fifty-two week high of $27.07. The firm has a market cap of $5,670.00, a price-to-earnings ratio of 69.03, a PEG ratio of 0.91 and a beta of 1.14.

RPC (NYSE:RES) last announced its quarterly earnings data on Wednesday, October 25th. The oil and gas company reported $0.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.03). RPC had a net margin of 6.03% and a return on equity of 10.31%. The firm had revenue of $471.00 million during the quarter, compared to analyst estimates of $474.41 million. During the same quarter in the previous year, the business posted ($0.18) earnings per share. RPC’s revenue for the quarter was up 167.8% compared to the same quarter last year. research analysts forecast that RPC, Inc. will post 0.81 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Monday, December 11th. Investors of record on Friday, November 10th were paid a dividend of $0.07 per share. This is a positive change from RPC’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Thursday, November 9th. RPC’s dividend payout ratio (DPR) is currently 73.68%.

RES has been the topic of a number of research reports. Citigroup lowered shares of RPC from a “strong-buy” rating to a “market perform” rating in a report on Thursday, October 26th. They noted that the move was a valuation call. Credit Suisse Group lowered shares of RPC from an “outperform” rating to a “neutral” rating in a report on Friday, October 13th. They noted that the move was a valuation call. Morgan Stanley lowered shares of RPC from an “equal weight” rating to an “underweight” rating and set a $25.00 target price on the stock. in a report on Tuesday, November 14th. They noted that the move was a valuation call. Deutsche Bank initiated coverage on shares of RPC in a report on Tuesday, October 10th. They set a “hold” rating and a $25.00 target price on the stock. Finally, BMO Capital Markets increased their target price on shares of RPC from $26.00 to $29.00 and gave the stock an “outperform” rating in a report on Friday, November 10th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $25.03.

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About RPC

RPC, Inc (RPC) is a holding company for several oilfield services companies. The Company provides a range of specialized oilfield services and equipment primarily to independent oil and gas companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the southwest, mid-continent, Gulf of Mexico, Rocky Mountain and Appalachian regions, and in selected international markets.

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Institutional Ownership by Quarter for RPC (NYSE:RES)

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