JPMorgan Chase & Co. Grows Position in RPC, Inc. (NYSE:RES)

JPMorgan Chase & Co. lifted its stake in RPC, Inc. (NYSE:RES - Free Report) by 17.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 489,401 shares of the oil and gas company's stock after buying an additional 71,064 shares during the period. JPMorgan Chase & Co. owned approximately 0.23% of RPC worth $3,113,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. International Assets Investment Management LLC boosted its stake in RPC by 540.4% in the third quarter. International Assets Investment Management LLC now owns 4,560 shares of the oil and gas company's stock valued at $29,000 after acquiring an additional 3,848 shares in the last quarter. Paloma Partners Management Co acquired a new stake in shares of RPC in the 3rd quarter valued at about $69,000. Townsquare Capital LLC acquired a new stake in shares of RPC in the 3rd quarter valued at about $73,000. CWM LLC grew its stake in RPC by 130.0% during the 3rd quarter. CWM LLC now owns 11,758 shares of the oil and gas company's stock worth $75,000 after buying an additional 6,646 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its position in RPC by 38.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,821 shares of the oil and gas company's stock worth $93,000 after buying an additional 4,136 shares during the period. 41.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on RES shares. Stifel Nicolaus lowered their target price on shares of RPC from $8.00 to $7.00 and set a "hold" rating on the stock in a research report on Friday, October 11th. Susquehanna lowered their price objective on shares of RPC from $6.50 to $6.00 and set a "neutral" rating on the stock in a research report on Friday, October 25th.

RPC Stock Performance

RPC stock traded up $0.06 during mid-day trading on Monday, reaching $7.02. 2,031,782 shares of the company were exchanged, compared to its average volume of 1,408,085. The firm's 50-day simple moving average is $6.13 and its two-hundred day simple moving average is $6.26. RPC, Inc. has a twelve month low of $5.54 and a twelve month high of $8.19. The firm has a market cap of $1.51 billion, a PE ratio of 12.53 and a beta of 1.59.

RPC (NYSE:RES - Get Free Report) last issued its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.04). The company had revenue of $337.70 million for the quarter, compared to analyst estimates of $365.33 million. RPC had a return on equity of 11.36% and a net margin of 8.07%. RPC's revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.08 earnings per share. As a group, equities research analysts anticipate that RPC, Inc. will post 0.43 EPS for the current year.

RPC Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 11th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.28%. RPC's dividend payout ratio (DPR) is 28.57%.

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.