Jane Street Group LLC Boosts Stock Position in RPC, Inc. (NYSE:RES)

Jane Street Group LLC increased its stake in RPC, Inc. (NYSE:RES - Free Report) by 1,009.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 82,124 shares of the oil and gas company's stock after acquiring an additional 74,722 shares during the quarter. Jane Street Group LLC's holdings in RPC were worth $488,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RES. Nicholas Hoffman & Company LLC. acquired a new position in shares of RPC during the 4th quarter valued at about $59,000. Raymond James Financial Inc. purchased a new stake in RPC during the fourth quarter worth about $64,000. Ieq Capital LLC purchased a new stake in RPC during the fourth quarter worth about $65,000. Nisa Investment Advisors LLC increased its stake in RPC by 383.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 11,312 shares of the oil and gas company's stock worth $67,000 after purchasing an additional 8,971 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in RPC during the fourth quarter worth about $68,000. Institutional investors and hedge funds own 41.06% of the company's stock.

Analysts Set New Price Targets

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

RPC Stock Up 5.2%

RPC stock traded up $0.24 during mid-day trading on Tuesday, hitting $4.74. The company had a trading volume of 1,062,527 shares, compared to its average volume of 1,680,960. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 11.01 and a beta of 0.86. RPC, Inc. has a 1 year low of $4.10 and a 1 year high of $7.54. The business has a fifty day moving average of $4.82 and a 200 day moving average of $5.60.

RPC (NYSE:RES - Get Free Report) last issued 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). 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 analyst estimates of $326.72 million. During the same period in the prior year, the business earned $0.13 earnings per share. RPC's revenue for the quarter was down 11.9% compared to the same quarter last year. Equities analysts anticipate that RPC, Inc. will post 0.31 earnings per share for the current year.

RPC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 3.38%. The ex-dividend date is Friday, May 9th. RPC's dividend payout ratio (DPR) is presently 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.