611,412 Shares in RPC, Inc. (NYSE:RES) Acquired by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP purchased a new position in shares of RPC, Inc. (NYSE:RES - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 611,412 shares of the oil and gas company's stock, valued at approximately $3,632,000. ExodusPoint Capital Management LP owned 0.28% of RPC at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nicholas Hoffman & Company LLC. acquired a new stake in shares of RPC during the fourth quarter valued at about $59,000. GAMMA Investing LLC raised its stake in RPC by 437.4% during the fourth quarter. GAMMA Investing LLC now owns 10,087 shares of the oil and gas company's stock worth $60,000 after acquiring an additional 8,210 shares during the period. Raymond James Financial Inc. bought a new stake in shares of RPC in the 4th quarter worth approximately $64,000. Paloma Partners Management Co bought a new stake in RPC in the third quarter valued at $69,000. Finally, Ieq Capital LLC acquired a new position in RPC during the 4th quarter valued at about $65,000. Hedge funds and other institutional investors own 41.06% of the company's stock.

RPC Trading Up 3.3 %

RES stock traded up $0.16 during trading hours on Friday, hitting $4.82. 2,026,591 shares of the stock traded hands, compared to its average volume of 1,717,012. The stock has a 50-day simple moving average of $5.47 and a 200 day simple moving average of $5.99. The company has a market cap of $1.04 billion, a P/E ratio of 11.20 and a beta of 1.27. RPC, Inc. has a one year low of $4.10 and a one year high of $8.19.

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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, meeting the consensus estimate of $0.06. RPC had a return on equity of 8.62% and a net margin of 6.46%. Analysts forecast that RPC, Inc. will post 0.31 earnings per share for the current year.

RPC Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a $0.04 dividend. The ex-dividend date was Monday, February 10th. This represents a $0.16 annualized dividend and a dividend yield of 3.32%. RPC's dividend payout ratio (DPR) is presently 37.21%.

Wall Street Analyst Weigh In

Separately, Citigroup upgraded RPC from a "sell" rating to a "neutral" rating and reduced their price target for the stock from $5.50 to $4.75 in a research report on Tuesday.

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.