Ieq Capital LLC Acquires New Position in RPC, Inc. (NYSE:RES)

Ieq Capital LLC acquired a new stake in RPC, Inc. (NYSE:RES) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,860 shares of the oil and gas company’s stock, valued at approximately $65,000.

Several other institutional investors also recently made changes to their positions in RES. Nicholas Hoffman & Company LLC. acquired a new stake in RPC in the fourth quarter worth approximately $59,000. Principal Financial Group Inc. lifted its position in shares of RPC by 2.8% during the 4th quarter. Principal Financial Group Inc. now owns 400,686 shares of the oil and gas company’s stock valued at $2,380,000 after acquiring an additional 11,087 shares during the last quarter. Monument Capital Management acquired a new stake in RPC during the 4th quarter valued at $93,000. Rhumbline Advisers raised its stake in RPC by 2.5% during the 4th quarter. Rhumbline Advisers now owns 296,567 shares of the oil and gas company’s stock valued at $1,762,000 after purchasing an additional 7,220 shares during the period. Finally, Van ECK Associates Corp raised 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 purchasing an additional 607,255 shares during the period. 41.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Citigroup upped their price target on shares of RPC from $5.25 to $5.50 and gave the stock a “sell” rating in a research note on Thursday, February 20th.

RPC Price Performance

Shares of RPC stock opened at $5.58 on Monday. The firm has a market cap of $1.20 billion, a P/E ratio of 12.97 and a beta of 1.58. The firm has a 50 day simple moving average of $6.19 and a 200 day simple moving average of $6.23. RPC, Inc. has a fifty-two week low of $5.41 and a fifty-two week high of $8.19.

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

RPC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be given a dividend of $0.04 per share. The ex-dividend date is Monday, February 10th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.87%. RPC’s payout ratio is presently 37.21%.

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.