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

Van ECK Associates Corp boosted its position in shares of RPC, Inc. (NYSE:RES) by 27.2% in the 4th quarter, HoldingsChannel reports. The fund owned 2,838,991 shares of the oil and gas company’s stock after acquiring an additional 607,255 shares during the period. Van ECK Associates Corp’s holdings in RPC were worth $16,863,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Empowered Funds LLC increased its holdings in shares of RPC by 5.1% in the 4th quarter. Empowered Funds LLC now owns 928,958 shares of the oil and gas company’s stock valued at $5,518,000 after acquiring an additional 45,468 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in RPC by 5.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 174,154 shares of the oil and gas company’s stock valued at $1,034,000 after purchasing an additional 9,164 shares during the last quarter. Inspire Investing LLC raised its holdings in RPC by 3.9% during the fourth quarter. Inspire Investing LLC now owns 66,994 shares of the oil and gas company’s stock worth $398,000 after purchasing an additional 2,500 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of RPC by 69.7% during the 4th quarter. SG Americas Securities LLC now owns 41,743 shares of the oil and gas company’s stock worth $248,000 after buying an additional 17,143 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings 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 buying an additional 8,971 shares in the last quarter. 41.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

RPC Trading Up 1.1 %

RES stock opened at $6.14 on Friday. The company has a market capitalization of $1.32 billion, a P/E ratio of 14.27 and a beta of 1.58. The business has a 50 day simple moving average of $6.20 and a 200-day simple moving average of $6.28. RPC, Inc. has a twelve month low of $5.54 and a twelve month high of $8.19.

RPC (NYSE:RES) last issued its quarterly earnings data on Thursday, January 30th. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.06. RPC had a net margin of 6.46% and a return on equity of 8.62%. Research analysts predict 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. Shareholders of record on Monday, February 10th will be paid 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 is presently 37.21%.

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.