Dimensional Fund Advisors LP Boosts Stake in RPC, Inc. (NYSE:RES)

Dimensional Fund Advisors LP increased its stake in shares of RPC, Inc. (NYSE:RES - Free Report) by 4.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,620,598 shares of the oil and gas company's stock after buying an additional 459,700 shares during the quarter. Dimensional Fund Advisors LP owned 5.41% of RPC worth $69,025,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of RPC by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 10,880,406 shares of the oil and gas company's stock worth $64,630,000 after buying an additional 99,370 shares during the last quarter. Gamco Investors INC. ET AL boosted its stake in RPC by 3.3% in the fourth quarter. Gamco Investors INC. ET AL now owns 3,081,429 shares of the oil and gas company's stock valued at $18,304,000 after acquiring an additional 97,369 shares during the last quarter. American Century Companies Inc. grew its position in shares of RPC by 11.2% during the 4th quarter. American Century Companies Inc. now owns 3,039,581 shares of the oil and gas company's stock valued at $18,055,000 after acquiring an additional 306,976 shares during the period. Van ECK Associates Corp increased its stake in shares of RPC by 27.2% during the 4th quarter. Van ECK Associates Corp now owns 2,838,991 shares of the oil and gas company's stock worth $16,863,000 after purchasing an additional 607,255 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of RPC by 12.5% in the 4th quarter. Bank of New York Mellon Corp now owns 1,761,776 shares of the oil and gas company's stock worth $10,465,000 after purchasing an additional 195,414 shares during the period. Hedge funds and other institutional investors own 41.06% of the company's stock.

RPC Stock Down 2.3 %

RES traded down $0.12 on Monday, hitting $4.91. The company's stock had a trading volume of 491,736 shares, compared to its average volume of 1,690,890. RPC, Inc. has a 12 month low of $4.10 and a 12 month high of $7.53. The firm has a market cap of $1.08 billion, a P/E ratio of 11.43 and a beta of 0.86. The company's 50 day simple moving average is $5.14 and its 200-day simple moving average is $5.79.

RPC (NYSE:RES - Get Free Report) last posted its earnings results on Thursday, April 24th. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). RPC had a return on equity of 8.62% and a net margin of 6.46%. The company had revenue of $332.88 million for the quarter, compared to analysts' expectations of $326.72 million. During the same quarter in the prior year, the company earned $0.13 EPS. The company's revenue was down 11.9% on a year-over-year basis. Equities analysts predict 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 will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date is Friday, May 9th. RPC's payout ratio is presently 44.44%.

Analysts Set New Price Targets

Several equities analysts have weighed in on RES shares. Citigroup raised RPC from a "sell" rating to a "neutral" rating and reduced their price objective for the company from $5.50 to $4.75 in a report on Tuesday, April 8th. Susquehanna decreased their price objective on RPC from $6.00 to $5.50 and set a "neutral" rating for the company in a report on Monday, April 14th.

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.