First Eagle Investment Management LLC Grows Position in RPC, Inc. (NYSE:RES)

First Eagle Investment Management LLC raised its position in RPC, Inc. (NYSE:RES) by 6.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 312,649 shares of the oil and gas company’s stock after buying an additional 18,000 shares during the quarter. First Eagle Investment Management LLC owned approximately 0.15% of RPC worth $1,857,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of RES. Edgestream Partners L.P. purchased a new stake in RPC in the 4th quarter valued at $953,000. Raymond James Financial Inc. purchased a new stake in shares of RPC in the fourth quarter valued at about $64,000. Charles Schwab Investment Management Inc. boosted its stake in shares of RPC by 11.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,689,779 shares of the oil and gas company’s stock worth $10,037,000 after buying an additional 180,301 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in shares of RPC by 9.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 21,950 shares of the oil and gas company’s stock worth $130,000 after buying an additional 1,850 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position 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 period. 41.06% of the stock is owned by institutional investors and hedge funds.

RPC Stock Up 2.0 %

NYSE RES opened at $5.34 on Monday. The stock has a market capitalization of $1.15 billion, a P/E ratio of 12.41 and a beta of 1.52. RPC, Inc. has a 52-week low of $5.04 and a 52-week high of $8.19. The firm has a 50-day moving average price of $6.07 and a 200 day moving average price of $6.15.

RPC (NYSE:RES) last issued its earnings results on Thursday, January 30th. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. RPC had a return on equity of 8.62% and a net margin of 6.46%. On average, equities research analysts expect that RPC, Inc. will post 0.31 earnings per share for the current fiscal year.

RPC Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a dividend of $0.04 per share. The ex-dividend date was Monday, February 10th. This represents a $0.16 annualized dividend and a dividend yield of 3.00%. RPC’s payout ratio is currently 37.21%.

Wall Street Analyst Weigh In

Separately, Citigroup boosted their target price on RPC from $5.25 to $5.50 and gave the company a “sell” rating in a report on Thursday, February 20th.

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.