Van ECK Associates Corp Has $16.86 Million Stock Holdings in RPC, Inc. (NYSE:RES)

Van ECK Associates Corp grew its holdings in RPC, Inc. (NYSE:RES - Free Report) by 27.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,838,991 shares of the oil and gas company's stock after purchasing an additional 607,255 shares during the period. Van ECK Associates Corp owned approximately 1.32% of RPC worth $16,863,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC grew its position in shares of 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 purchasing an additional 3,848 shares during the last quarter. GAMMA Investing LLC lifted 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 purchasing an additional 8,210 shares during the period. Nisa Investment Advisors LLC lifted its stake in RPC by 383.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 11,312 shares of the oil and gas company's stock worth $67,000 after purchasing an additional 8,971 shares during the period. Paloma Partners Management Co bought a new position in RPC during the third quarter worth about $69,000. Finally, Townsquare Capital LLC bought a new position in RPC during the third quarter worth about $73,000. 41.06% of the stock is currently owned by hedge funds and other institutional investors.

RPC Price Performance

Shares of NYSE:RES traded down $0.20 during trading on Wednesday, reaching $6.09. The stock had a trading volume of 873,104 shares, compared to its average volume of 1,476,940. RPC, Inc. has a 52 week low of $5.54 and a 52 week high of $8.19. The business's 50-day moving average price is $6.21 and its 200 day moving average price is $6.26. The stock has a market capitalization of $1.31 billion, a PE ratio of 14.15 and a beta of 1.58.

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

RPC Announces Dividend

The business 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 $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date of this dividend is Monday, February 10th. RPC's dividend payout ratio is currently 37.21%.

Analyst Upgrades and Downgrades

Separately, Susquehanna cut their target price on shares of RPC from $6.50 to $6.00 and set a "neutral" rating for the company in a research note 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.