Van ECK Associates Corp Has $21.69 Million Position in RPC, Inc. (NYSE:RES)

Van ECK Associates Corp lessened its position in shares of RPC, Inc. (NYSE:RES - Free Report) by 11.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,978,703 shares of the oil and gas company's stock after selling 369,927 shares during the quarter. Van ECK Associates Corp owned approximately 1.38% of RPC worth $21,685,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of RES. Signaturefd LLC increased its position in shares of RPC by 67.3% during the 4th quarter. Signaturefd LLC now owns 4,580 shares of the oil and gas company's stock worth $33,000 after purchasing an additional 1,843 shares during the last quarter. International Assets Investment Management LLC lifted 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 worth $37,000 after acquiring an additional 4,425 shares during the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in shares of RPC during the 3rd quarter worth approximately $95,000. WT Wealth Management purchased a new stake in RPC in the third quarter valued at approximately $98,000. Finally, QRG Capital Management Inc. acquired a new position in RPC during the third quarter worth $150,000. Institutional investors and hedge funds own 41.06% of the company's stock.

RPC Stock Performance

RES stock traded down $0.15 during mid-day trading on Wednesday, reaching $6.55. The company had a trading volume of 1,777,700 shares, compared to its average volume of 1,645,962. The firm has a fifty day simple moving average of $7.62 and a 200 day simple moving average of $7.48. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of 9.36 and a beta of 1.60. RPC, Inc. has a fifty-two week low of $6.34 and a fifty-two week high of $9.41.

RPC (NYSE:RES - Get Free Report) last announced its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.19 by ($0.06). RPC had a return on equity of 15.02% and a net margin of 9.95%. The business had revenue of $377.80 million for the quarter, compared to analysts' expectations of $393.33 million. During the same period last year, the firm earned $0.39 earnings per share. The firm's quarterly revenue was down 20.7% on a year-over-year basis. As a group, analysts predict that RPC, Inc. will post 0.71 earnings per share for the current year.

RPC Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be paid a $0.94 dividend. This is a positive change from RPC's previous quarterly dividend of $0.04. This represents a $3.76 annualized dividend and a yield of 57.45%. The ex-dividend date of this dividend is Thursday, May 9th. RPC's dividend payout ratio is currently 22.86%.

Analyst Upgrades and Downgrades

Separately, Susquehanna cut their price target on shares of RPC from $8.00 to $7.00 and set a "neutral" rating on the stock in a research note on Friday, April 26th.

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.