JPMorgan Chase & Co. Purchases 82,972 Shares of RPC, Inc. (NYSE:RES)

JPMorgan Chase & Co. increased its position in shares of RPC, Inc. (NYSE:RES) by 17.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 572,373 shares of the oil and gas company’s stock after acquiring an additional 82,972 shares during the quarter. JPMorgan Chase & Co. owned about 0.27% of RPC worth $3,400,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. HighTower Advisors LLC boosted its position in shares of RPC by 6.1% in the 3rd quarter. HighTower Advisors LLC now owns 40,082 shares of the oil and gas company’s stock worth $252,000 after purchasing an additional 2,288 shares during the last quarter. State Street Corp lifted its stake 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 buying an additional 245,372 shares during the period. Barclays PLC boosted its holdings in RPC by 230.1% during the third quarter. Barclays PLC now owns 182,943 shares of the oil and gas company’s stock worth $1,163,000 after buying an additional 127,525 shares during the last quarter. Franklin Resources Inc. grew its position 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 buying an additional 3,633 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of RPC by 437.4% in the 4th quarter. GAMMA Investing LLC now owns 10,087 shares of the oil and gas company’s stock valued at $60,000 after acquiring an additional 8,210 shares during the last quarter. Institutional investors own 41.06% of the company’s stock.

RPC Stock Performance

NYSE:RES opened at $4.95 on Tuesday. The stock has a 50-day simple moving average of $5.33 and a 200 day simple moving average of $5.92. RPC, Inc. has a 52-week low of $4.10 and a 52-week high of $8.14. The company has a market cap of $1.07 billion, a PE ratio of 11.51 and a beta of 1.27.

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

RPC Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date was Monday, February 10th. RPC’s dividend payout ratio (DPR) is currently 37.21%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on RES shares. Susquehanna lowered their target price on RPC from $6.00 to $5.50 and set a “neutral” rating for the company in a research note on Monday, April 14th. Citigroup raised shares of RPC from a “sell” rating to a “neutral” rating and lowered their price objective for the stock from $5.50 to $4.75 in a research report on Tuesday, April 8th.

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.