RPC, Inc. (NYSE:RES) Shares Acquired by Deutsche Bank AG

Deutsche Bank AG grew its holdings in RPC, Inc. (NYSE:RES) by 178.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 183,418 shares of the oil and gas company’s stock after acquiring an additional 117,518 shares during the period. Deutsche Bank AG owned about 0.09% of RPC worth $1,090,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Franklin Resources Inc. lifted its position in RPC by 3.8% during the fourth quarter. Franklin Resources Inc. now owns 48,030 shares of the oil and gas company’s stock valued at $285,000 after purchasing an additional 1,758 shares during the period. Steward Partners Investment Advisory LLC raised its stake in shares of RPC by 9.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 21,950 shares of the oil and gas company’s stock valued at $130,000 after buying an additional 1,850 shares during the last quarter. Inspire Investing LLC raised its stake in shares of RPC by 3.9% during the 4th quarter. Inspire Investing LLC now owns 66,994 shares of the oil and gas company’s stock valued at $398,000 after buying an additional 2,500 shares during the last quarter. Comerica Bank lifted its holdings in shares of RPC by 3.6% in the 4th quarter. Comerica Bank now owns 86,007 shares of the oil and gas company’s stock valued at $511,000 after buying an additional 2,979 shares during the period. Finally, Aquatic Capital Management LLC boosted its stake in shares of RPC by 3.9% in the fourth quarter. Aquatic Capital Management LLC now owns 80,637 shares of the oil and gas company’s stock worth $479,000 after buying an additional 3,037 shares during the last quarter. Institutional investors and hedge funds own 41.06% of the company’s stock.

RPC Stock Performance

RES opened at $4.51 on Monday. The company has a fifty day moving average of $4.96 and a two-hundred day moving average of $5.66. The stock has a market capitalization of $993.65 million, a price-to-earnings ratio of 10.48 and a beta of 0.86. RPC, Inc. has a fifty-two week low of $4.10 and a fifty-two week high of $7.54.

RPC (NYSE:RES) last posted its earnings results on Thursday, April 24th. The oil and gas company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The business had revenue of $332.88 million for the quarter, compared to analyst estimates of $326.72 million. RPC had a net margin of 6.46% and a return on equity of 8.62%. RPC’s revenue was down 11.9% on a year-over-year basis. During the same quarter last year, the business earned $0.13 earnings per share. On average, equities research analysts forecast that RPC, Inc. will post 0.31 earnings per share for the current year.

RPC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend is Friday, May 9th. RPC’s dividend payout ratio (DPR) is presently 44.44%.

Analyst Ratings Changes

RES has been the topic of several analyst reports. Susquehanna dropped their target price on RPC from $6.00 to $5.50 and set a “neutral” rating on the stock in a report on Monday, April 14th. Citigroup upgraded 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.