GAMMA Investing LLC Buys 8,210 Shares of RPC, Inc. (NYSE:RES)

GAMMA Investing LLC increased its stake in RPC, Inc. (NYSE:RES) by 437.4% in the 4th quarter, Holdings Channel reports. The fund owned 10,087 shares of the oil and gas company’s stock after buying an additional 8,210 shares during the quarter. GAMMA Investing LLC’s holdings in RPC were worth $60,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of RES. The Manufacturers Life Insurance Company raised its stake in shares of RPC by 3.7% during the second quarter. The Manufacturers Life Insurance Company now owns 51,819 shares of the oil and gas company’s stock worth $324,000 after acquiring an additional 1,869 shares in the last quarter. HighTower Advisors LLC lifted its position in RPC by 6.1% in the third quarter. HighTower Advisors LLC now owns 40,082 shares of the oil and gas company’s stock valued at $252,000 after purchasing an additional 2,288 shares during the last quarter. Franklin Resources Inc. grew its holdings in RPC by 8.5% in the 3rd quarter. Franklin Resources Inc. now owns 46,272 shares of the oil and gas company’s stock worth $324,000 after acquiring an additional 3,633 shares during the last quarter. International Assets Investment Management LLC raised its position in RPC by 540.4% during the 3rd quarter. International Assets Investment Management LLC now owns 4,560 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 3,848 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its stake in RPC by 38.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 14,821 shares of the oil and gas company’s stock worth $93,000 after acquiring an additional 4,136 shares during the period. 41.06% of the stock is currently owned by institutional investors.

RPC Trading Up 3.1 %

RPC stock opened at $6.36 on Monday. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of 11.36 and a beta of 1.59. The business’s fifty day simple moving average is $6.06 and its two-hundred day simple moving average is $6.24. RPC, Inc. has a 12 month low of $5.54 and a 12 month high of $8.19.

RPC (NYSE:RES) last posted its quarterly earnings results on Thursday, October 24th. The oil and gas company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). RPC had a net margin of 8.07% and a return on equity of 11.36%. The firm had revenue of $337.70 million for the quarter, compared to analysts’ expectations of $365.33 million. During the same quarter in the previous year, the company earned $0.08 EPS. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, equities research analysts predict that RPC, Inc. will post 0.43 EPS for the current year.

RPC Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 10th. Stockholders of record on Monday, November 11th were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $0.16 annualized dividend and a dividend yield of 2.52%. RPC’s payout ratio is 28.57%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Stifel Nicolaus reduced their price target on shares of RPC from $8.00 to $7.00 and set a “hold” rating on the stock in a research report on Friday, October 11th. Susquehanna reduced their price target on RPC from $6.50 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th.

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.