RPC, Inc. (NYSE:RES) Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC increased its position in shares of RPC, Inc. (NYSE:RES - Free Report) by 144.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 101,940 shares of the oil and gas company's stock after acquiring an additional 60,197 shares during the quarter. SG Americas Securities LLC's holdings in RPC were worth $561,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RES. Rhumbline Advisers lifted its stake in shares of RPC by 2.5% during the 4th quarter. Rhumbline Advisers now owns 296,567 shares of the oil and gas company's stock worth $1,762,000 after purchasing an additional 7,220 shares during the period. Principal Financial Group Inc. increased its stake in RPC by 2.8% in the fourth quarter. Principal Financial Group Inc. now owns 400,686 shares of the oil and gas company's stock valued at $2,380,000 after purchasing an additional 11,087 shares during the last quarter. Ieq Capital LLC purchased a new position in RPC during the fourth quarter worth about $65,000. Bank of New York Mellon Corp lifted its position in RPC by 12.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,761,776 shares of the oil and gas company's stock worth $10,465,000 after buying an additional 195,414 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its stake in RPC by 9.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 21,950 shares of the oil and gas company's stock worth $130,000 after buying an additional 1,850 shares during the last quarter. 41.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on RES shares. Citigroup upgraded RPC from a "sell" rating to a "neutral" rating and lowered their price target for the company from $5.50 to $4.75 in a report on Tuesday, April 8th. Susquehanna decreased their target price 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.

RPC Stock Up 1.4%

Shares of RES stock traded up $0.07 on Thursday, reaching $4.73. 1,278,052 shares of the stock were exchanged, compared to its average volume of 1,675,947. The stock has a market cap of $1.04 billion, a P/E ratio of 13.13 and a beta of 0.85. The firm has a 50 day moving average of $4.82 and a two-hundred day moving average of $5.45. RPC, Inc. has a 1-year low of $4.10 and a 1-year high of $7.54.

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

RPC Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date of this dividend was Friday, May 9th. RPC's payout ratio 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.