Arrowstreet Capital Limited Partnership Takes Position in RPC, Inc. (NYSE:RES)

Arrowstreet Capital Limited Partnership acquired a new position in shares of RPC, Inc. (NYSE:RES) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 268,746 shares of the oil and gas company’s stock, valued at approximately $1,596,000. Arrowstreet Capital Limited Partnership owned 0.13% of RPC as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in RES. HighTower Advisors LLC lifted its holdings in shares of 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 in the last quarter. State Street Corp raised its position in RPC by 6.2% in the 3rd quarter. State Street Corp now owns 4,202,844 shares of the oil and gas company’s stock valued at $26,730,000 after buying an additional 245,372 shares during the last quarter. Kovitz Investment Group Partners LLC lifted its stake in RPC by 56.2% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 27,913 shares of the oil and gas company’s stock valued at $178,000 after acquiring an additional 10,048 shares in the last quarter. Barclays PLC boosted its position in RPC by 230.1% during the 3rd quarter. Barclays PLC now owns 182,943 shares of the oil and gas company’s stock worth $1,163,000 after acquiring an additional 127,525 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of RPC by 8.5% during 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 in the last quarter. 41.06% of the stock is owned by institutional investors.

RPC Price Performance

Shares of NYSE RES opened at $4.65 on Friday. The business has a 50-day moving average of $5.50 and a 200-day moving average of $6.00. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of 10.80 and a beta of 1.27. RPC, Inc. has a fifty-two week low of $4.10 and a fifty-two week high of $8.19.

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

RPC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a $0.04 dividend. The ex-dividend date was Monday, February 10th. This represents a $0.16 annualized dividend and a dividend yield of 3.44%. RPC’s dividend payout ratio is presently 37.21%.

Wall Street Analyst Weigh In

Separately, Citigroup raised shares of RPC from a “sell” rating to a “neutral” rating and cut their price objective for the stock from $5.50 to $4.75 in a research report on Tuesday.

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.