Illinois Municipal Retirement Fund Has $377,000 Holdings in RPC, Inc. (NYSE:RES)

Illinois Municipal Retirement Fund raised its holdings in RPC, Inc. (NYSE:RES) by 12.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 51,799 shares of the oil and gas company’s stock after buying an additional 5,723 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in RPC were worth $377,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Signaturefd LLC raised its position in shares of RPC by 67.3% during the fourth quarter. Signaturefd LLC now owns 4,580 shares of the oil and gas company’s stock worth $33,000 after purchasing an additional 1,843 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of RPC by 154.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,704 shares of the oil and gas company’s stock worth $165,000 after purchasing an additional 13,789 shares during the period. Louisiana State Employees Retirement System acquired a new position in shares of RPC during the fourth quarter worth approximately $310,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of RPC by 17.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 38,282 shares of the oil and gas company’s stock worth $279,000 after purchasing an additional 5,565 shares during the period. Finally, International Assets Investment Management LLC raised its position in shares of RPC by 632.1% during the fourth quarter. International Assets Investment Management LLC now owns 5,125 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 4,425 shares during the period. 41.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Susquehanna lowered their price target on RPC from $8.00 to $7.00 and set a “neutral” rating for the company in a research report on Friday, April 26th.

RPC Trading Down 2.2 %

NYSE RES opened at $6.55 on Thursday. The firm has a market capitalization of $1.40 billion, a P/E ratio of 9.35 and a beta of 1.60. The business has a fifty day simple moving average of $7.62 and a 200 day simple moving average of $7.48. RPC, Inc. has a 12 month low of $6.34 and a 12 month high of $9.41.

RPC (NYSE:RES) last released its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The company had revenue of $377.80 million during the quarter, compared to analysts’ expectations of $393.33 million. RPC had a net margin of 9.95% and a return on equity of 15.02%. The company’s quarterly revenue was down 20.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.39 earnings per share. As a group, sell-side analysts predict that RPC, Inc. will post 0.71 EPS for the current fiscal year.

RPC Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be paid a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 57.45%. The ex-dividend date of this dividend is Thursday, May 9th. This is an increase from RPC’s previous quarterly dividend of $0.04. RPC’s dividend payout ratio is 22.86%.

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.