AXQ Capital LP Purchases Shares of 30,793 RPC, Inc. (NYSE:RES)

AXQ Capital LP purchased a new stake in shares of RPC, Inc. (NYSE:RES) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 30,793 shares of the oil and gas company’s stock, valued at approximately $183,000.

Other hedge funds also recently modified their holdings of the company. State Street Corp increased its holdings in RPC by 6.2% in the third quarter. State Street Corp now owns 4,202,844 shares of the oil and gas company’s stock valued at $26,730,000 after purchasing an additional 245,372 shares during the period. American Century Companies Inc. increased 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 valued at $18,055,000 after buying an additional 306,976 shares during the period. Van ECK Associates Corp raised its position in shares of RPC by 27.2% during the fourth quarter. Van ECK Associates Corp now owns 2,838,991 shares of the oil and gas company’s stock worth $16,863,000 after acquiring an additional 607,255 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of RPC by 12.5% in the fourth quarter. Bank of New York Mellon Corp now owns 1,761,776 shares of the oil and gas company’s stock worth $10,465,000 after acquiring an additional 195,414 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of RPC by 11.9% in 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 acquiring an additional 180,301 shares during the period. Institutional investors and hedge funds own 41.06% of the company’s stock.

RPC Trading Up 1.4 %

Shares of RPC stock opened at $5.56 on Tuesday. The company has a market cap of $1.20 billion, a P/E ratio of 12.92 and a beta of 1.52. The business has a 50-day moving average price of $5.98 and a two-hundred day moving average price of $6.12. RPC, Inc. has a 1-year low of $5.04 and a 1-year high of $8.19.

RPC (NYSE:RES) last issued its earnings results on Thursday, January 30th. The oil and gas company reported $0.06 earnings per share 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%. Equities research analysts forecast that RPC, Inc. will post 0.31 EPS for the current fiscal year.

RPC Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 2.88%. The ex-dividend date was Monday, February 10th. RPC’s dividend payout ratio is presently 37.21%.

Analyst Ratings Changes

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

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.