Exchange Traded Concepts LLC Has $1.03 Million Stake in RPC, Inc. (NYSE:RES)

Exchange Traded Concepts LLC increased its stake in shares of RPC, Inc. (NYSE:RES) by 5.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 174,154 shares of the oil and gas company’s stock after purchasing an additional 9,164 shares during the quarter. Exchange Traded Concepts LLC’s holdings in RPC were worth $1,034,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its position in RPC by 38.9% in the 3rd quarter. Pacer Advisors Inc. now owns 12,029,993 shares of the oil and gas company’s stock worth $76,511,000 after buying an additional 3,371,490 shares in the last quarter. State Street Corp increased its stake in shares of RPC by 6.2% in the third quarter. State Street Corp now owns 4,202,844 shares of the oil and gas company’s stock worth $26,730,000 after acquiring an additional 245,372 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of RPC by 7.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,509,478 shares of the oil and gas company’s stock worth $9,600,000 after acquiring an additional 106,108 shares in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in RPC during the third quarter valued at $5,917,000. Finally, Empowered Funds LLC grew its stake in RPC by 5.4% in the third quarter. Empowered Funds LLC now owns 883,490 shares of the oil and gas company’s stock valued at $5,619,000 after purchasing an additional 45,024 shares in the last quarter. 41.06% of the stock is owned by hedge funds and other institutional investors.

RPC Price Performance

NYSE RES opened at $6.41 on Wednesday. The firm has a market cap of $1.38 billion, a P/E ratio of 11.44 and a beta of 1.59. The stock’s 50-day moving average is $6.25 and its two-hundred day moving average is $6.31. RPC, Inc. has a fifty-two week low of $5.54 and a fifty-two week high of $8.19.

Wall Street Analysts Forecast Growth

RES has been the subject of several research reports. 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 cut 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.

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.