RPC, Inc. (NYSE:RES) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its position in shares of RPC, Inc. (NYSE:RES - Free Report) by 17.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 572,373 shares of the oil and gas company's stock after purchasing an additional 82,972 shares during the period. JPMorgan Chase & Co. owned 0.27% of RPC worth $3,400,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of RES. HighTower Advisors LLC raised its stake in RPC by 6.1% during the 3rd quarter. HighTower Advisors LLC now owns 40,082 shares of the oil and gas company's stock worth $252,000 after acquiring an additional 2,288 shares in the last quarter. State Street Corp grew its holdings in shares of RPC by 6.2% during the third quarter. State Street Corp now owns 4,202,844 shares of the oil and gas company's stock worth $26,730,000 after purchasing an additional 245,372 shares during the last quarter. Barclays PLC increased its position in shares of RPC by 230.1% during the third quarter. Barclays PLC now owns 182,943 shares of the oil and gas company's stock worth $1,163,000 after purchasing an additional 127,525 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of RPC by 8.5% in the 3rd quarter. Franklin Resources Inc. now owns 46,272 shares of the oil and gas company's stock valued at $324,000 after purchasing an additional 3,633 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of RPC by 437.4% in the 4th quarter. GAMMA Investing LLC now owns 10,087 shares of the oil and gas company's stock valued at $60,000 after purchasing an additional 8,210 shares during the period. Hedge funds and other institutional investors own 41.06% of the company's stock.

Wall Street Analyst Weigh In

RES has been the topic of a number of recent research reports. Susquehanna dropped 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 RPC from a "sell" rating to a "neutral" rating and reduced their price objective for the company from $5.50 to $4.75 in a research note on Tuesday, April 8th.

RPC Price Performance

NYSE RES traded up $0.08 on Friday, reaching $5.05. The company had a trading volume of 1,371,077 shares, compared to its average volume of 1,720,408. The firm has a market capitalization of $1.09 billion, a PE ratio of 11.74 and a beta of 1.27. The firm has a 50-day moving average of $5.24 and a 200-day moving average of $5.88. 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 released 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 business had revenue of $332.88 million for the quarter, compared to analysts' expectations of $326.72 million. RPC had a net margin of 6.46% and a return on equity of 8.62%. As a group, sell-side analysts expect that RPC, Inc. will post 0.31 EPS for the current fiscal year.

RPC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders 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 yield of 3.17%. The ex-dividend date is Friday, May 9th. RPC's payout ratio is currently 37.21%.

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.