RPC, Inc. (NYSE:RES) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp boosted its holdings in shares of RPC, Inc. (NYSE:RES) by 27.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,838,991 shares of the oil and gas company’s stock after acquiring an additional 607,255 shares during the quarter. Van ECK Associates Corp owned about 1.32% of RPC worth $16,863,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RES. International Assets Investment Management LLC increased its position in shares of RPC by 540.4% during the 3rd quarter. International Assets Investment Management LLC now owns 4,560 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 3,848 shares during the last quarter. GAMMA Investing LLC increased its position in shares of RPC by 437.4% during the fourth quarter. GAMMA Investing LLC now owns 10,087 shares of the oil and gas company’s stock valued at $60,000 after acquiring an additional 8,210 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of RPC by 383.2% in the 4th 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. Paloma Partners Management Co acquired a new position in shares of RPC in the 3rd quarter worth approximately $69,000. Finally, Townsquare Capital LLC purchased a new position in shares of RPC during the 3rd quarter worth approximately $73,000. Hedge funds and other institutional investors own 41.06% of the company’s stock.

Wall Street Analyst Weigh In

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

RPC Price Performance

NYSE RES opened at $6.14 on Friday. The company has a market cap of $1.32 billion, a P/E ratio of 14.27 and a beta of 1.58. The stock has a 50-day moving average of $6.20 and a two-hundred day moving average of $6.28. RPC, Inc. has a 1-year low of $5.54 and a 1-year high of $8.19.

RPC (NYSE:RES) last announced its quarterly earnings data 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%. On average, analysts anticipate that RPC, Inc. will post 0.34 EPS for the current fiscal year.

RPC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Monday, February 10th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend is Monday, February 10th. RPC’s dividend payout ratio is currently 37.21%.

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.