RPC, Inc. (NYSE:RES) Shares Bought by First Trust Advisors LP

First Trust Advisors LP increased its holdings in shares of RPC, Inc. (NYSE:RES - Free Report) by 690.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 657,981 shares of the oil and gas company's stock after buying an additional 574,765 shares during the quarter. First Trust Advisors LP owned 0.31% of RPC worth $3,908,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of RPC by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 10,880,406 shares of the oil and gas company's stock worth $64,630,000 after acquiring an additional 99,370 shares during the period. Gamco Investors INC. ET AL grew its holdings in shares of RPC by 3.3% during the fourth quarter. Gamco Investors INC. ET AL now owns 3,081,429 shares of the oil and gas company's stock worth $18,304,000 after buying an additional 97,369 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of RPC by 11.2% in the fourth quarter. American Century Companies Inc. now owns 3,039,581 shares of the oil and gas company's stock worth $18,055,000 after buying an additional 306,976 shares in the last quarter. Van ECK Associates Corp grew its stake in RPC by 27.2% during the 4th quarter. Van ECK Associates Corp now owns 2,838,991 shares of the oil and gas company's stock valued at $16,863,000 after acquiring an additional 607,255 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in RPC by 12.5% in the 4th quarter. Bank of New York Mellon Corp now owns 1,761,776 shares of the oil and gas company's stock valued at $10,465,000 after acquiring an additional 195,414 shares during the last quarter. 41.06% of the stock is currently owned by hedge funds and other institutional investors.

RPC Price Performance

RES traded up $0.06 during trading hours on Thursday, reaching $4.72. The company's stock had a trading volume of 139,104 shares, compared to its average volume of 1,689,382. The stock has a market cap of $1.04 billion, a PE ratio of 10.98 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's 50-day moving average is $5.09 and its 200-day moving average is $5.77.

RPC (NYSE:RES - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The oil and gas company reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates 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 return on equity of 8.62% and a net margin of 6.46%. The business's revenue for the quarter was down 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.13 earnings per share. Analysts expect that RPC, Inc. will post 0.31 EPS for the current year.

RPC Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend is Friday, May 9th. RPC's dividend payout ratio (DPR) is 44.44%.

Analyst Ratings Changes

Several research firms recently commented on RES. Susquehanna reduced their price objective on RPC from $6.00 to $5.50 and set a "neutral" rating on the stock in a research report 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.

About RPC

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.