JPMorgan Chase & Co. Raises Stock Holdings in RPC, Inc. (NYSE:RES)

JPMorgan Chase & Co. increased its stake in shares of RPC, Inc. (NYSE:RES - Free Report) by 17.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 572,373 shares of the oil and gas company's stock after buying an additional 82,972 shares during the period. JPMorgan Chase & Co. owned about 0.27% of RPC worth $3,400,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in RES. Vanguard Group Inc. lifted its stake in shares of RPC by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 10,880,406 shares of the oil and gas company's stock valued at $64,630,000 after buying an additional 99,370 shares in the last quarter. State Street Corp lifted its position in shares of RPC by 6.2% during the third quarter. State Street Corp now owns 4,202,844 shares of the oil and gas company's stock worth $26,730,000 after acquiring an additional 245,372 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of RPC by 11.2% in the fourth quarter. American Century Companies Inc. now owns 3,039,581 shares of the oil and gas company's stock worth $18,055,000 after acquiring an additional 306,976 shares during the period. Van ECK Associates Corp grew its position in shares of RPC by 27.2% in the fourth quarter. Van ECK Associates Corp now owns 2,838,991 shares of the oil and gas company's stock valued at $16,863,000 after purchasing an additional 607,255 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of RPC by 12.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,761,776 shares of the oil and gas company's stock valued at $10,465,000 after purchasing an additional 195,414 shares during the period. Institutional investors own 41.06% of the company's stock.

RPC Stock Performance

RPC stock traded up $0.08 during mid-day trading on Friday, hitting $5.05. 886,795 shares of the company traded hands, compared to its average volume of 1,730,674. The stock has a fifty day moving average price of $5.27 and a 200-day moving average price of $5.89. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 11.71 and a beta of 1.27. RPC, Inc. has a one year low of $4.10 and a one year high of $7.54.

RPC (NYSE:RES - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.01). The firm had revenue of $332.88 million during the quarter, compared to analysts' expectations of $326.72 million. RPC had a return on equity of 8.62% and a net margin of 6.46%. Sell-side analysts predict that RPC, Inc. will post 0.31 EPS for the current year.

RPC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 3.17%. RPC's dividend payout ratio (DPR) is 37.21%.

Analyst Upgrades and Downgrades

RES has been the topic of several analyst reports. Susquehanna decreased their price target on RPC from $6.00 to $5.50 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Citigroup upgraded shares of RPC from a "sell" rating to a "neutral" rating and lowered their target price for the stock from $5.50 to $4.75 in a research note on Tuesday, April 8th.

About RPC

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.