Two Sigma Investments LP Buys 134,579 Shares of RPC, Inc. (NYSE:RES)

Two Sigma Investments LP boosted its holdings in RPC, Inc. (NYSE:RES - Free Report) by 68.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 330,114 shares of the oil and gas company's stock after purchasing an additional 134,579 shares during the quarter. Two Sigma Investments LP owned 0.15% of RPC worth $1,961,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. ProShare Advisors LLC raised its stake in RPC by 44.6% in the 4th quarter. ProShare Advisors LLC now owns 25,563 shares of the oil and gas company's stock worth $152,000 after purchasing an additional 7,880 shares in the last quarter. Quantedge Capital Pte Ltd acquired a new stake in RPC in the 4th quarter worth about $105,000. Quantinno Capital Management LP acquired a new stake in RPC in the 4th quarter worth about $101,000. Numerai GP LLC raised its stake in RPC by 1,028.6% in the 4th quarter. Numerai GP LLC now owns 124,473 shares of the oil and gas company's stock worth $739,000 after purchasing an additional 113,444 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in RPC by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 48,368 shares of the oil and gas company's stock worth $287,000 after purchasing an additional 1,697 shares in the last quarter. Institutional investors and hedge funds own 41.06% of the company's stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Susquehanna dropped 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. Citigroup upgraded shares of RPC from a "sell" rating to a "neutral" rating and dropped their price objective for the stock from $5.50 to $4.75 in a research note on Tuesday, April 8th.

RPC Stock Down 0.5%

Shares of NYSE:RES traded down $0.03 during midday trading on Thursday, hitting $4.57. The stock had a trading volume of 1,072,757 shares, compared to its average volume of 1,680,556. The company's 50-day moving average price is $4.78 and its 200-day moving average price is $5.58. The company has a market capitalization of $1.01 billion, a P/E ratio of 10.62 and a beta of 0.85. RPC, Inc. has a fifty-two week low of $4.10 and a fifty-two week high of $7.54.

RPC (NYSE:RES - Get Free Report) last issued its earnings results on Thursday, April 24th. The oil and gas company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). The firm had revenue of $332.88 million during the quarter, compared to analyst estimates of $326.72 million. RPC had a net margin of 6.46% and a return on equity of 8.62%. RPC's quarterly revenue was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.13 earnings per share. Research analysts expect that RPC, Inc. will post 0.31 EPS for the current fiscal year.

RPC Dividend Announcement

The company also recently announced 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. This represents a $0.16 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Friday, May 9th. RPC's payout ratio 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.