127,127 Shares in RPC, Inc. (NYSE:RES) Bought by Glenorchy Capital Ltd

Glenorchy Capital Ltd bought a new position in RPC, Inc. (NYSE:RES - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 127,127 shares of the oil and gas company's stock, valued at approximately $925,000. Glenorchy Capital Ltd owned 0.06% of RPC as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Signaturefd LLC lifted its holdings in shares of RPC by 67.3% in the 4th quarter. Signaturefd LLC now owns 4,580 shares of the oil and gas company's stock valued at $33,000 after buying an additional 1,843 shares during the period. International Assets Investment Management LLC increased its holdings in shares of RPC by 632.1% in the 4th quarter. International Assets Investment Management LLC now owns 5,125 shares of the oil and gas company's stock valued at $37,000 after purchasing an additional 4,425 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of RPC in the third quarter valued at about $95,000. WT Wealth Management purchased a new stake in RPC during the third quarter worth about $98,000. Finally, Capital Investment Advisors LLC acquired a new position in RPC during the third quarter worth about $137,000. 41.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Susquehanna lifted their price target on shares of RPC from $6.50 to $8.00 and gave the company a "neutral" rating in a research report on Monday, April 8th.

RPC Stock Up 1.0 %

Shares of RPC stock traded up $0.08 on Tuesday, hitting $8.03. The company's stock had a trading volume of 1,457,150 shares, compared to its average volume of 1,582,561. The company has a market capitalization of $1.73 billion, a P/E ratio of 8.92 and a beta of 1.60. RPC, Inc. has a 52-week low of $6.34 and a 52-week high of $9.41. The firm has a fifty day moving average price of $7.62 and a 200-day moving average price of $7.53.

RPC (NYSE:RES - Get Free Report) last released its quarterly earnings results on Thursday, January 25th. The oil and gas company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.18 by $0.01. RPC had a net margin of 12.06% and a return on equity of 21.26%. The business had revenue of $394.50 million for the quarter, compared to analyst estimates of $374.22 million. During the same period in the prior year, the business earned $0.41 earnings per share. The company's quarterly revenue was down 18.2% on a year-over-year basis. As a group, analysts expect that RPC, Inc. will post 0.88 earnings per share for the current year.

RPC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 9th were issued a $0.04 dividend. The ex-dividend date was Thursday, February 8th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.99%. RPC's dividend payout ratio (DPR) is 17.78%.

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.

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