Arrowstreet Capital Limited Partnership Invests $1.60 Million in RPC, Inc. (NYSE:RES)

Arrowstreet Capital Limited Partnership acquired a new stake in shares of RPC, Inc. (NYSE:RES - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 268,746 shares of the oil and gas company's stock, valued at approximately $1,596,000. Arrowstreet Capital Limited Partnership owned 0.13% of RPC at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in RPC by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 10,880,406 shares of the oil and gas company's stock valued at $64,630,000 after purchasing an additional 99,370 shares during the period. State Street Corp lifted its holdings in shares of RPC by 6.2% in the 3rd quarter. State Street Corp now owns 4,202,844 shares of the oil and gas company's stock valued at $26,730,000 after buying an additional 245,372 shares during the period. American Century Companies Inc. boosted its stake in shares of RPC by 11.2% in the fourth quarter. American Century Companies Inc. now owns 3,039,581 shares of the oil and gas company's stock worth $18,055,000 after buying an additional 306,976 shares during the last quarter. Van ECK Associates Corp grew its holdings in RPC by 27.2% during the fourth quarter. Van ECK Associates Corp now owns 2,838,991 shares of the oil and gas company's stock worth $16,863,000 after acquiring an additional 607,255 shares during the period. Finally, Bank of New York Mellon Corp raised its position in RPC by 12.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,761,776 shares of the oil and gas company's stock valued at $10,465,000 after acquiring an additional 195,414 shares in the last quarter. 41.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on RES shares. Susquehanna lowered their price objective on RPC from $6.00 to $5.50 and set a "neutral" rating on the stock in a research report on Monday. Citigroup upgraded shares of RPC from a "sell" rating to a "neutral" rating and dropped their price target for the company from $5.50 to $4.75 in a research report on Tuesday, April 8th.

RPC Price Performance

RES stock traded up $0.11 during mid-day trading on Wednesday, reaching $4.90. 144,776 shares of the company's stock were exchanged, compared to its average volume of 1,714,958. The company has a market cap of $1.06 billion, a price-to-earnings ratio of 11.38 and a beta of 1.27. RPC, Inc. has a 12-month low of $4.10 and a 12-month high of $8.14. The stock's 50 day moving average is $5.42 and its 200 day moving average is $5.97.

RPC (NYSE:RES - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The oil and gas company reported $0.06 earnings per share (EPS) 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, research analysts forecast that RPC, Inc. will post 0.31 earnings per share 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 paid a dividend of $0.04 per share. The ex-dividend date was Monday, February 10th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 3.27%. RPC's dividend payout ratio is currently 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.