Northern Trust Corp Sells 31,827 Shares of RPC, Inc. (NYSE:RES)

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Northern Trust Corp cut its stake in shares of RPC, Inc. (NYSE:RES) by 6.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 468,136 shares of the oil and gas company’s stock after selling 31,827 shares during the quarter. Northern Trust Corp owned 0.22% of RPC worth $3,376,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in RES. NumerixS Investment Technologies Inc bought a new stake in shares of RPC during the 1st quarter valued at approximately $154,000. Federated Investors Inc. PA grew its holdings in shares of RPC by 10.0% during the 1st quarter. Federated Investors Inc. PA now owns 443,714 shares of the oil and gas company’s stock valued at $5,063,000 after purchasing an additional 40,413 shares during the last quarter. Marshall Wace North America L.P. bought a new stake in shares of RPC during the 1st quarter valued at approximately $25,000. First Trust Advisors LP grew its holdings in shares of RPC by 3.1% during the 1st quarter. First Trust Advisors LP now owns 1,158,663 shares of the oil and gas company’s stock valued at $13,220,000 after purchasing an additional 35,006 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new stake in shares of RPC during the 2nd quarter valued at approximately $342,000. 33.78% of the stock is currently owned by institutional investors.

RES has been the topic of several research reports. Wells Fargo & Co decreased their price target on shares of RPC from $5.50 to $4.50 and set an “underperform” rating on the stock in a report on Thursday, September 12th. AltaCorp Capital reiterated an “underperform” rating on shares of RPC in a research report on Thursday, June 20th. Citigroup cut their target price on shares of RPC from $5.00 to $4.80 and set a “sell” rating on the stock in a research report on Wednesday. ValuEngine upgraded shares of RPC from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Gabelli downgraded shares of RPC from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. Eight analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $10.06.

NYSE:RES opened at $4.95 on Friday. The firm’s 50 day simple moving average is $5.41 and its 200 day simple moving average is $7.67. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.13 and a quick ratio of 2.45. RPC, Inc. has a one year low of $4.65 and a one year high of $15.90. The company has a market cap of $1.06 billion, a PE ratio of 6.04, a P/E/G ratio of 314.21 and a beta of 1.09.

RPC (NYSE:RES) last posted its earnings results on Wednesday, July 24th. The oil and gas company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). RPC had a return on equity of 6.37% and a net margin of 4.55%. The business had revenue of $358.50 million for the quarter, compared to analyst estimates of $362.40 million. During the same quarter in the prior year, the business earned $0.28 earnings per share. The firm’s quarterly revenue was down 23.4% on a year-over-year basis. Equities research analysts expect that RPC, Inc. will post -0.01 EPS for the current year.

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. The company operates through Technical Services and Support Services segments. The Technical Services offers pressure pumping, fracturing, acidizing, 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.

Further Reading: What is the Book Value of a Share?

Institutional Ownership by Quarter for RPC (NYSE:RES)

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