Arrowstreet Capital Limited Partnership Takes $1.60 Million Position in RPC, Inc. (NYSE:RES)

Arrowstreet Capital Limited Partnership purchased a new position in RPC, Inc. (NYSE:RES - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 268,746 shares of the oil and gas company's stock, valued at approximately $1,596,000. Arrowstreet Capital Limited Partnership owned 0.13% of RPC as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Nicholas Hoffman & Company LLC. purchased a new stake in shares of RPC during the fourth quarter worth about $59,000. GAMMA Investing LLC grew its position in RPC by 437.4% during the 4th quarter. GAMMA Investing LLC now owns 10,087 shares of the oil and gas company's stock worth $60,000 after purchasing an additional 8,210 shares during the last quarter. Raymond James Financial Inc. acquired a new position in RPC during the 4th quarter valued at approximately $64,000. Ieq Capital LLC purchased a new position in shares of RPC in the fourth quarter worth $65,000. Finally, Nisa Investment Advisors LLC grew its holdings in shares of RPC by 383.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 11,312 shares of the oil and gas company's stock valued at $67,000 after buying an additional 8,971 shares during the last quarter. Hedge funds and other institutional investors own 41.06% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on RES shares. Citigroup upgraded RPC from a "sell" rating to a "neutral" rating and dropped their price target for the company from $5.50 to $4.75 in a research note on Tuesday, April 8th. Susquehanna decreased their price objective on shares of RPC from $6.00 to $5.50 and set a "neutral" rating for the company in a research note on Monday.

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RPC Price Performance

NYSE:RES traded up $0.06 during trading hours on Tuesday, reaching $4.82. The company had a trading volume of 670,820 shares, compared to its average volume of 1,715,569. RPC, Inc. has a 1-year low of $4.10 and a 1-year high of $8.14. The business's 50 day moving average price is $5.44 and its 200-day moving average price is $5.98. The firm has a market cap of $1.04 billion, a PE ratio of 11.21 and a beta of 1.27.

RPC (NYSE:RES - Get Free Report) last posted its earnings results on Thursday, January 30th. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.06. RPC had a net margin of 6.46% and a return on equity of 8.62%. On average, analysts expect that RPC, Inc. will post 0.31 earnings per share for the current fiscal year.

RPC Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were issued a $0.04 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $0.16 dividend on an annualized basis and a yield of 3.32%. RPC's payout ratio is 37.21%.

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.