Edgestream Partners L.P. Acquires Shares of 160,511 RPC, Inc. (NYSE:RES)

Edgestream Partners L.P. acquired a new stake in RPC, Inc. (NYSE:RES - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 160,511 shares of the oil and gas company's stock, valued at approximately $953,000. Edgestream Partners L.P. owned about 0.07% of RPC as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Barclays PLC grew its position in RPC by 230.1% in the 3rd quarter. Barclays PLC now owns 182,943 shares of the oil and gas company's stock valued at $1,163,000 after acquiring an additional 127,525 shares during the last quarter. Hotchkis & Wiley Capital Management LLC bought a new position in RPC in the 3rd quarter valued at $5,917,000. JPMorgan Chase & Co. grew its position in RPC by 17.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 489,401 shares of the oil and gas company's stock valued at $3,113,000 after acquiring an additional 71,064 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in RPC by 7.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,509,478 shares of the oil and gas company's stock valued at $9,600,000 after acquiring an additional 106,108 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its position in RPC by 101.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 215,567 shares of the oil and gas company's stock valued at $1,371,000 after acquiring an additional 108,737 shares during the last quarter. Institutional investors own 41.06% of the company's stock.

Analysts Set New Price Targets

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

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RPC Trading Down 1.9 %

RES opened at $5.30 on Wednesday. RPC, Inc. has a 12-month low of $5.04 and a 12-month high of $8.19. The business's fifty day simple moving average is $6.12 and its 200-day simple moving average is $6.18. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of 12.31 and a beta of 1.52.

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

RPC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date was Monday, February 10th. RPC's payout ratio is currently 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.

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