Dimensional Fund Advisors LP Purchases 459,700 Shares of RPC, Inc. (NYSE:RES)

Dimensional Fund Advisors LP raised its position in RPC, Inc. (NYSE:RES - Free Report) by 4.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 about 5.41% of RPC worth $69,025,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Nicholas Hoffman & Company LLC. bought a new position in RPC in the fourth quarter valued at approximately $59,000. GAMMA Investing LLC boosted its holdings in shares of RPC by 437.4% in the 4th quarter. GAMMA Investing LLC now owns 10,087 shares of the oil and gas company's stock valued at $60,000 after purchasing an additional 8,210 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of RPC in the 4th quarter valued at $64,000. Ieq Capital LLC acquired a new position in shares of RPC during the 4th quarter worth $65,000. Finally, Nisa Investment Advisors LLC lifted its position in shares of RPC by 383.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 11,312 shares of the oil and gas company's stock worth $67,000 after buying an additional 8,971 shares during the last quarter. 41.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Susquehanna decreased their target price on RPC from $6.00 to $5.50 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Citigroup upgraded shares of RPC from a "sell" rating to a "neutral" rating and reduced their price target for the company from $5.50 to $4.75 in a research note on Tuesday, April 8th.

RPC Price Performance

Shares of NYSE RES traded down $0.02 during mid-day trading on Tuesday, hitting $4.82. 122,167 shares of the stock traded hands, compared to its average volume of 1,694,058. The company has a market cap of $1.06 billion, a PE ratio of 11.24 and a beta of 0.86. RPC, Inc. has a twelve month low of $4.10 and a twelve month high of $7.54. The firm has a 50 day simple moving average of $5.12 and a two-hundred day simple moving average of $5.78.

RPC (NYSE:RES - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The oil and gas company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). The firm had revenue of $332.88 million for the quarter, compared to the consensus estimate of $326.72 million. RPC had a return on equity of 8.62% and a net margin of 6.46%. The business's revenue for the quarter was down 11.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.13 earnings per share. On average, equities research analysts anticipate that RPC, Inc. will post 0.31 earnings per share for the current fiscal year.

RPC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be given a dividend of $0.04 per share. The ex-dividend date is Friday, May 9th. This represents a $0.16 dividend on an annualized basis and a yield of 3.32%. RPC's dividend payout ratio (DPR) is currently 44.44%.

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.