Deutsche Bank AG Acquires 117,518 Shares of RPC, Inc. (NYSE:RES)

Deutsche Bank AG increased its stake in RPC, Inc. (NYSE:RES - Free Report) by 178.3% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 183,418 shares of the oil and gas company's stock after buying an additional 117,518 shares during the quarter. Deutsche Bank AG owned 0.09% of RPC worth $1,090,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bridgeway Capital Management LLC increased its holdings in shares of RPC by 2.8% in the fourth quarter. Bridgeway Capital Management LLC now owns 1,665,958 shares of the oil and gas company's stock worth $9,896,000 after purchasing an additional 45,468 shares during the period. Brevan Howard Capital Management LP purchased a new stake in RPC in the fourth quarter worth approximately $127,000. BNP Paribas Financial Markets boosted its stake in RPC by 30.3% in the fourth quarter. BNP Paribas Financial Markets now owns 280,926 shares of the oil and gas company's stock worth $1,669,000 after buying an additional 65,359 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in RPC by 3.6% during the 4th quarter. Ameriprise Financial Inc. now owns 650,616 shares of the oil and gas company's stock valued at $3,865,000 after buying an additional 22,348 shares during the last quarter. Finally, Jane Street Group LLC boosted its position in RPC by 1,009.5% during the 4th quarter. Jane Street Group LLC now owns 82,124 shares of the oil and gas company's stock valued at $488,000 after buying an additional 74,722 shares during the period. 41.06% of the stock is currently owned by institutional investors.

RPC Stock Performance

Shares of RES stock traded down $0.07 during trading hours on Wednesday, reaching $4.49. The company had a trading volume of 1,157,208 shares, compared to its average volume of 1,681,896. The business has a fifty day moving average price of $4.92 and a 200-day moving average price of $5.65. RPC, Inc. has a one year low of $4.10 and a one year high of $7.54. The firm has a market cap of $990.34 million, a PE ratio of 10.44 and a beta of 0.86.

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

RPC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors 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 annualized dividend and a yield of 3.56%. RPC's dividend payout ratio (DPR) is 44.44%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Citigroup raised shares of RPC from a "sell" rating to a "neutral" rating and dropped their target price for the stock from $5.50 to $4.75 in a research report on Tuesday, April 8th. Susquehanna reduced their price objective on shares of RPC from $6.00 to $5.50 and set a "neutral" rating for the company in a research note on Monday, April 14th.

RPC 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.