Susquehanna International Group LLP Boosts Stake in RPC, Inc. (RES)

Susquehanna International Group LLP raised its stake in RPC, Inc. (NYSE:RES) by 168.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,100 shares of the oil and gas company’s stock after acquiring an additional 37,000 shares during the quarter. Susquehanna International Group LLP’s holdings in RPC were worth $305,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its holdings in shares of RPC by 7.6% in the second quarter. The Manufacturers Life Insurance Company now owns 6,514 shares of the oil and gas company’s stock worth $132,000 after acquiring an additional 459 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of RPC by 12.0% in the second quarter. Pacer Advisors Inc. now owns 11,360 shares of the oil and gas company’s stock worth $230,000 after acquiring an additional 1,216 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of RPC by 5.0% in the first quarter. Sei Investments Co. now owns 32,451 shares of the oil and gas company’s stock worth $594,000 after acquiring an additional 1,535 shares during the last quarter. Alpha Windward LLC lifted its holdings in shares of RPC by 7.5% in the second quarter. Alpha Windward LLC now owns 24,637 shares of the oil and gas company’s stock worth $498,000 after acquiring an additional 1,717 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of RPC by 0.5% in the second quarter. Northern Trust Corp now owns 369,609 shares of the oil and gas company’s stock worth $7,470,000 after acquiring an additional 1,951 shares during the last quarter. 38.21% of the stock is owned by hedge funds and other institutional investors.

RES has been the subject of a number of research reports. Jefferies Group LLC reissued a “buy” rating and issued a $26.00 target price on shares of RPC in a report on Friday, July 21st. Barclays PLC initiated coverage on shares of RPC in a report on Tuesday, September 5th. They issued an “equal weight” rating and a $19.00 target price for the company. Morgan Stanley dropped their target price on shares of RPC from $24.00 to $23.00 and set an “equal weight” rating for the company in a report on Wednesday, June 21st. Zacks Investment Research cut shares of RPC from a “buy” rating to a “hold” rating in a report on Tuesday, July 18th. Finally, Cowen and Company reissued a “hold” rating and issued a $24.00 target price on shares of RPC in a report on Friday, September 1st. Fourteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $23.36.

Shares of RPC, Inc. (NYSE:RES) opened at 23.12 on Monday. The firm’s 50-day moving average is $22.36 and its 200-day moving average is $20.14. The firm’s market cap is $5.03 billion. RPC, Inc. has a 52-week low of $16.48 and a 52-week high of $25.00.

RPC (NYSE:RES) last announced its quarterly earnings data on Wednesday, July 26th. The oil and gas company reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.06. RPC had a negative return on equity of 1.74% and a negative net margin of 1.15%. The firm had revenue of $399.00 million during the quarter, compared to the consensus estimate of $415.65 million. During the same quarter in the previous year, the company posted ($0.23) earnings per share. The business’s revenue was up 179.0% on a year-over-year basis. Analysts anticipate that RPC, Inc. will post $0.82 earnings per share for the current year.

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RPC Profile

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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