Northern Trust Corp Has $6.94 Million Stake in RPC, Inc. (NYSE:RES)

Northern Trust Corp raised its holdings in RPC, Inc. (NYSE:RES - Free Report) by 15.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,168,054 shares of the oil and gas company's stock after purchasing an additional 152,714 shares during the period. Northern Trust Corp owned about 0.54% of RPC worth $6,938,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Aquatic Capital Management LLC grew its position in shares of RPC by 3.9% during the fourth quarter. Aquatic Capital Management LLC now owns 80,637 shares of the oil and gas company's stock worth $479,000 after buying an additional 3,037 shares in the last quarter. Oberweis Asset Management Inc. raised its stake in shares of RPC by 3.4% during the fourth quarter. Oberweis Asset Management Inc. now owns 629,155 shares of the oil and gas company's stock valued at $3,737,000 after purchasing an additional 20,571 shares in the last quarter. Syon Capital LLC bought a new stake in shares of RPC during the fourth quarter valued at about $81,000. Price T Rowe Associates Inc. MD raised its stake in shares of RPC by 16.1% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 32,014 shares of the oil and gas company's stock valued at $191,000 after purchasing an additional 4,450 shares in the last quarter. Finally, Dark Forest Capital Management LP bought a new stake in shares of RPC during the fourth quarter valued at about $265,000. Institutional investors and hedge funds own 41.06% of the company's stock.

RPC Stock Performance

Shares of RES traded down $0.03 during mid-day trading on Friday, hitting $4.51. The company's stock had a trading volume of 918,797 shares, compared to its average volume of 1,686,463. RPC, Inc. has a one year low of $4.10 and a one year high of $7.54. The firm has a market capitalization of $993.65 million, a PE ratio of 10.48 and a beta of 0.86. The stock's 50-day moving average is $4.96 and its two-hundred day moving average is $5.66.

RPC (NYSE:RES - Get Free Report) last posted its quarterly earnings data 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). RPC had a net margin of 6.46% and a return on equity of 8.62%. The business had revenue of $332.88 million during the quarter, compared to the consensus estimate of $326.72 million. During the same period in the prior year, the company posted $0.13 earnings per share. The firm's revenue was down 11.9% compared to the same quarter last year. Analysts expect that RPC, Inc. will post 0.31 EPS for the current fiscal year.

RPC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be given a $0.04 dividend. The ex-dividend date is Friday, May 9th. This represents a $0.16 annualized dividend and a dividend yield of 3.55%. RPC's dividend payout ratio is 44.44%.

Wall Street Analysts Forecast Growth

RES has been the topic of several research reports. Susquehanna dropped their price target on shares of RPC from $6.00 to $5.50 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Citigroup raised RPC from a "sell" rating to a "neutral" rating and lowered their target price for the company from $5.50 to $4.75 in a research note on Tuesday, April 8th.

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.