Empowered Funds LLC Acquires 45,468 Shares of RPC, Inc. (NYSE:RES)

Empowered Funds LLC boosted its stake in RPC, Inc. (NYSE:RES - Free Report) by 5.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 928,958 shares of the oil and gas company's stock after purchasing an additional 45,468 shares during the quarter. Empowered Funds LLC owned about 0.43% of RPC worth $5,518,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. International Assets Investment Management LLC grew its stake in shares of RPC by 540.4% in the 3rd quarter. International Assets Investment Management LLC now owns 4,560 shares of the oil and gas company's stock valued at $29,000 after buying an additional 3,848 shares during the period. GAMMA Investing LLC boosted its holdings in RPC by 437.4% in 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 in the last quarter. Paloma Partners Management Co acquired a new stake in RPC in the third quarter valued at approximately $69,000. Nisa Investment Advisors LLC grew its stake in RPC by 383.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 11,312 shares of the oil and gas company's stock valued at $67,000 after acquiring an additional 8,971 shares during the period. Finally, Townsquare Capital LLC bought a new stake in shares of RPC during the third quarter valued at approximately $73,000. 41.06% of the stock is owned by institutional investors.

RPC Stock Performance

Shares of RPC stock traded up $0.07 on Friday, hitting $6.14. The company had a trading volume of 532,560 shares, compared to its average volume of 1,654,551. RPC, Inc. has a 1 year low of $5.54 and a 1 year high of $8.19. The stock has a 50 day moving average of $6.20 and a 200-day moving average of $6.28. The stock has a market capitalization of $1.32 billion, a price-to-earnings ratio of 14.27 and a beta of 1.58.

RPC (NYSE:RES - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The oil and gas company reported $0.06 EPS for the quarter, meeting analysts' consensus estimates of $0.06. RPC had a return on equity of 8.62% and a net margin of 6.46%. Equities analysts anticipate that RPC, Inc. will post 0.34 earnings per share for the current year.

RPC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 2.61%. The ex-dividend date of this dividend is Monday, February 10th. RPC's dividend payout ratio (DPR) is presently 37.21%.

Analysts Set New Price Targets

Separately, Susquehanna cut their target price on RPC from $6.50 to $6.00 and set a "neutral" rating on the stock in a report on Friday, October 25th.

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.