Signaturefd LLC Has $33,000 Stake in RPC, Inc. (NYSE:RES)

Signaturefd LLC increased its stake in RPC, Inc. (NYSE:RES) by 67.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,580 shares of the oil and gas company’s stock after acquiring an additional 1,843 shares during the quarter. Signaturefd LLC’s holdings in RPC were worth $33,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of RES. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in RPC by 154.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,704 shares of the oil and gas company’s stock valued at $165,000 after purchasing an additional 13,789 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in RPC in the 4th quarter valued at about $310,000. Mirae Asset Global Investments Co. Ltd. increased its position in RPC by 17.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,282 shares of the oil and gas company’s stock valued at $279,000 after buying an additional 5,565 shares in the last quarter. International Assets Investment Management LLC raised its stake in RPC by 632.1% during the 4th quarter. International Assets Investment Management LLC now owns 5,125 shares of the oil and gas company’s stock worth $37,000 after buying an additional 4,425 shares during the period. Finally, Arizona State Retirement System boosted its holdings in RPC by 10.5% in the fourth quarter. Arizona State Retirement System now owns 27,224 shares of the oil and gas company’s stock worth $198,000 after acquiring an additional 2,581 shares in the last quarter. Institutional investors and hedge funds own 41.06% of the company’s stock.

RPC Price Performance

Shares of NYSE RES opened at $6.78 on Friday. The company has a 50-day moving average price of $7.59 and a 200-day moving average price of $7.47. The stock has a market capitalization of $1.45 billion, a P/E ratio of 9.68 and a beta of 1.65. RPC, Inc. has a 1 year low of $6.34 and a 1 year high of $9.41.

RPC (NYSE:RES) last announced its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.06). The business had revenue of $377.80 million during the quarter, compared to the consensus estimate of $393.33 million. RPC had a net margin of 9.95% and a return on equity of 15.02%. RPC’s revenue was down 20.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.39 EPS. As a group, equities research analysts anticipate that RPC, Inc. will post 0.71 earnings per share for the current fiscal year.

RPC Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be issued a dividend of $0.94 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $3.76 annualized dividend and a yield of 55.50%. This is an increase from RPC’s previous quarterly dividend of $0.04. RPC’s dividend payout ratio is 22.86%.

Analyst Upgrades and Downgrades

Separately, Susquehanna decreased their price objective on RPC from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Friday, April 26th.

RPC Company 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.