SG Americas Securities LLC Acquires 60,197 Shares of RPC, Inc. (NYSE:RES)

SG Americas Securities LLC lifted its holdings in shares of RPC, Inc. (NYSE:RES - Free Report) by 144.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 101,940 shares of the oil and gas company's stock after buying an additional 60,197 shares during the quarter. SG Americas Securities LLC's holdings in RPC were worth $561,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in RPC during the 4th quarter worth approximately $64,000. Ieq Capital LLC bought a new position in RPC during the 4th quarter worth approximately $65,000. Vise Technologies Inc. bought a new position in RPC during the 4th quarter worth approximately $66,000. Renaissance Technologies LLC bought a new position in RPC during the 4th quarter worth approximately $68,000. Finally, XTX Topco Ltd bought a new position in RPC during the 4th quarter worth approximately $69,000. Institutional investors and hedge funds own 41.06% of the company's stock.

RPC Price Performance

RES traded down $0.04 during trading on Tuesday, reaching $4.76. The company had a trading volume of 1,717,037 shares, compared to its average volume of 1,675,851. RPC, Inc. has a 12 month low of $4.10 and a 12 month high of $7.54. The business's fifty day moving average price is $4.83 and its 200 day moving average price is $5.46. The company has a market cap of $1.05 billion, a P/E ratio of 13.21 and a beta of 0.85.

RPC (NYSE:RES - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The oil and gas company reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.01). The company had revenue of $332.88 million during the quarter, compared to the consensus estimate of $326.72 million. RPC had a net margin of 5.55% and a return on equity of 7.08%. The business's quarterly revenue was down 11.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.13 EPS. As a group, sell-side analysts predict that RPC, Inc. will post 0.31 EPS for the current fiscal year.

RPC Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend was Friday, May 9th. RPC's dividend payout ratio is presently 44.44%.

Analysts Set New Price Targets

Several research firms recently weighed in on RES. Susquehanna reduced their price objective 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. Citigroup raised shares of RPC from a "sell" rating to a "neutral" rating and cut their price target for the company from $5.50 to $4.75 in a research note on Tuesday, April 8th.

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.