Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of RPC, Inc. (NYSE:RES – Free Report) by 154.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,704 shares of the oil and gas company’s stock after acquiring an additional 13,789 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in RPC were worth $165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also bought and sold shares of the stock. International Assets Investment Management LLC increased its position in shares of RPC by 632.1% in the fourth quarter. International Assets Investment Management LLC now owns 5,125 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 4,425 shares during the period. Raymond James Financial Services Advisors Inc. bought a new position in RPC during the 3rd quarter valued at approximately $95,000. WT Wealth Management bought a new stake in shares of RPC in the 3rd quarter worth approximately $98,000. QRG Capital Management Inc. purchased a new position in shares of RPC during the third quarter valued at approximately $150,000. Finally, AXQ Capital LP bought a new position in shares of RPC during the third quarter valued at approximately $171,000. 41.06% of the stock is currently owned by institutional investors.
RPC Stock Performance
Shares of NYSE:RES opened at $6.75 on Thursday. RPC, Inc. has a 52-week low of $6.34 and a 52-week high of $9.41. The firm has a market capitalization of $1.45 billion, a P/E ratio of 9.64 and a beta of 1.65. The stock has a 50 day moving average price of $7.55 and a 200-day moving average price of $7.39.
RPC Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend is Thursday, May 9th. RPC’s dividend payout ratio is 22.86%.
Analyst Upgrades and Downgrades
Separately, Susquehanna reduced their price objective on shares of RPC from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Friday, April 26th.
Get Our Latest Stock Report on RES
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.
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