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

First Trust Advisors LP increased its position in shares of RPC, Inc. (NYSE:RES) by 690.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 657,981 shares of the oil and gas company’s stock after purchasing 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 SEC filing.

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

RPC Stock Performance

NYSE:RES opened at $5.01 on Friday. The company has a fifty day moving average of $5.14 and a two-hundred day moving average of $5.81. RPC, Inc. has a fifty-two week low of $4.10 and a fifty-two week high of $7.54. The stock has a market capitalization of $1.11 billion, a PE ratio of 11.65 and a beta of 1.27.

RPC (NYSE:RES) 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 analysts’ consensus estimates 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 analysts’ expectations of $326.72 million. During the same period in the prior year, the business posted $0.13 earnings per share. The company’s quarterly revenue was down 11.9% compared to the same quarter last year. Research analysts forecast that RPC, Inc. will post 0.31 earnings per share for the current year.

RPC Announces Dividend

The company 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 dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend is Friday, May 9th. RPC’s payout ratio is 44.44%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Susquehanna cut their price objective on shares of RPC from $6.00 to $5.50 and set a “neutral” rating for the company in a report on Monday, April 14th. Citigroup upgraded RPC from a “sell” rating to a “neutral” rating and cut their price target for the company from $5.50 to $4.75 in a research note 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.