First Trust Advisors LP Increases Stock Position in RPC, Inc. (NYSE:RES)

First Trust Advisors LP lifted its stake in RPC, Inc. (NYSE:RES - Free Report) by 690.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 657,981 shares of the oil and gas company's stock after acquiring an additional 574,765 shares during the period. First Trust Advisors LP owned 0.31% of RPC worth $3,908,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Nicholas Hoffman & Company LLC. bought a new stake in RPC in the 4th quarter valued at $59,000. GAMMA Investing LLC lifted its holdings in RPC by 437.4% during the 4th quarter. GAMMA Investing LLC now owns 10,087 shares of the oil and gas company's stock worth $60,000 after buying an additional 8,210 shares in the last quarter. Raymond James Financial Inc. bought a new position in RPC in the fourth quarter valued at about $64,000. Ieq Capital LLC acquired a new stake in shares of RPC during the 4th quarter worth approximately $65,000. Finally, Nisa Investment Advisors LLC raised its position in shares of RPC by 383.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 11,312 shares of the oil and gas company's stock valued at $67,000 after acquiring an additional 8,971 shares during the last quarter. 41.06% of the stock is currently owned by institutional investors and hedge funds.

RPC Trading Down 3.5 %

RPC stock traded down $0.18 during mid-day trading on Monday, reaching $4.85. The company had a trading volume of 914,950 shares, compared to its average volume of 1,700,220. The company has a market cap of $1.07 billion, a P/E ratio of 11.27 and a beta of 0.86. RPC, Inc. has a fifty-two week low of $4.10 and a fifty-two week high of $7.54. The business has a fifty day simple moving average of $5.12 and a 200 day simple moving average of $5.78.

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

RPC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be given a $0.04 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.16 annualized dividend and a yield of 3.30%. RPC's payout ratio is 44.44%.

Analyst Ratings Changes

A number of research analysts have issued reports on RES shares. Susquehanna decreased their target price on 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 RPC from a "sell" rating to a "neutral" rating and reduced their price target for the stock from $5.50 to $4.75 in a report on Tuesday, April 8th.

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.