Bank of New York Mellon Corp Acquires 195,414 Shares of RPC, Inc. (NYSE:RES)

Bank of New York Mellon Corp raised its position in RPC, Inc. (NYSE:RES - Free Report) by 12.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,761,776 shares of the oil and gas company's stock after purchasing an additional 195,414 shares during the quarter. Bank of New York Mellon Corp owned about 0.82% of RPC worth $10,465,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in RES. Nicholas Hoffman & Company LLC. acquired a new position in RPC during the 4th quarter worth $59,000. GAMMA Investing LLC grew its position in RPC by 437.4% in the 4th quarter. GAMMA Investing LLC now owns 10,087 shares of the oil and gas company's stock valued at $60,000 after buying an additional 8,210 shares in the last quarter. Ieq Capital LLC acquired a new position in RPC during the 4th quarter valued at about $65,000. Nisa Investment Advisors LLC raised its position in shares of RPC by 383.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 11,312 shares of the oil and gas company's stock worth $67,000 after buying an additional 8,971 shares in the last quarter. Finally, Paloma Partners Management Co acquired a new stake in shares of RPC in the 3rd quarter worth approximately $69,000. Institutional investors own 41.06% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Citigroup boosted their target price on RPC from $5.25 to $5.50 and gave the stock a "sell" rating in a report on Thursday, February 20th.

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RPC Stock Up 0.5 %

NYSE:RES traded up $0.03 during trading hours on Monday, reaching $5.37. 1,648,540 shares of the company's stock were exchanged, compared to its average volume of 1,604,664. The company has a market capitalization of $1.16 billion, a P/E ratio of 12.48 and a beta of 1.52. RPC, Inc. has a 12 month low of $5.04 and a 12 month high of $8.19. The business's 50-day simple moving average is $6.07 and its two-hundred day simple moving average is $6.15.

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

RPC Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend was Monday, February 10th. RPC's dividend payout ratio (DPR) is presently 37.21%.

RPC 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.