30,793 Shares in RPC, Inc. (NYSE:RES) Purchased by AXQ Capital LP

AXQ Capital LP purchased a new stake in shares of RPC, Inc. (NYSE:RES) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund purchased 30,793 shares of the oil and gas company’s stock, valued at approximately $183,000.

Several other institutional investors and hedge funds have also recently modified their holdings of RES. Nicholas Hoffman & Company LLC. purchased a new position in shares of RPC during the fourth quarter valued at approximately $59,000. GAMMA Investing LLC lifted its stake in RPC by 437.4% during the 4th 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 in the last quarter. Raymond James Financial Inc. purchased a new position in RPC during the 4th quarter worth $64,000. Ieq Capital LLC bought a new stake in shares of RPC in the 4th quarter worth $65,000. Finally, Nisa Investment Advisors LLC raised its holdings in shares of 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 purchasing an additional 8,971 shares during the last quarter. 41.06% of the stock is owned by hedge funds and other institutional investors.

RPC Trading Up 1.4 %

Shares of RPC stock opened at $5.56 on Tuesday. The business’s fifty day simple moving average is $5.98 and its 200 day simple moving average is $6.12. RPC, Inc. has a 12 month low of $5.04 and a 12 month high of $8.19. The firm has a market capitalization of $1.20 billion, a P/E ratio of 12.92 and a beta of 1.52.

RPC (NYSE:RES) last released its earnings results on Thursday, January 30th. The oil and gas company reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. RPC had a return on equity of 8.62% and a net margin of 6.46%. Analysts predict that RPC, Inc. will post 0.31 EPS for the current fiscal year.

RPC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend was Monday, February 10th. RPC’s dividend payout ratio is currently 37.21%.

Analyst Upgrades and Downgrades

Separately, Citigroup boosted their price target on shares of RPC from $5.25 to $5.50 and gave the stock a “sell” rating in a report on Thursday, February 20th.

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.