Two Sigma Investments LP Buys 134,579 Shares of RPC, Inc. (NYSE:RES)

Two Sigma Investments LP increased its stake in RPC, Inc. (NYSE:RES) by 68.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 330,114 shares of the oil and gas company’s stock after purchasing an additional 134,579 shares during the period. Two Sigma Investments LP owned approximately 0.15% of RPC worth $1,961,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of RES. SG Americas Securities LLC increased its position in shares of RPC by 69.7% in the fourth quarter. SG Americas Securities LLC now owns 41,743 shares of the oil and gas company’s stock worth $248,000 after purchasing an additional 17,143 shares during the last quarter. Empowered Funds LLC grew its position in RPC by 5.1% during the fourth quarter. Empowered Funds LLC now owns 928,958 shares of the oil and gas company’s stock valued at $5,518,000 after acquiring an additional 45,468 shares during the last quarter. Van ECK Associates Corp grew its position in RPC by 27.2% during the fourth quarter. Van ECK Associates Corp now owns 2,838,991 shares of the oil and gas company’s stock valued at $16,863,000 after acquiring an additional 607,255 shares during the last quarter. Rhumbline Advisers grew its position in RPC by 2.5% during the fourth quarter. Rhumbline Advisers now owns 296,567 shares of the oil and gas company’s stock valued at $1,762,000 after acquiring an additional 7,220 shares during the last quarter. Finally, Monument Capital Management bought a new position in RPC during the fourth quarter valued at approximately $93,000. 41.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Citigroup upgraded shares of RPC from a “sell” rating to a “neutral” rating and reduced their price target for the company from $5.50 to $4.75 in a research report on Tuesday, April 8th. Susquehanna cut their target price on shares of RPC from $6.00 to $5.50 and set a “neutral” rating on the stock in a report on Monday, April 14th.

RPC Stock Performance

Shares of RPC stock opened at $4.44 on Monday. RPC, Inc. has a 52-week low of $4.10 and a 52-week high of $7.54. The stock has a market capitalization of $979.31 million, a price-to-earnings ratio of 10.33 and a beta of 0.86. The company’s 50 day moving average price is $4.86 and its 200-day moving average price is $5.61.

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

RPC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend is Friday, May 9th. RPC’s payout ratio is 44.44%.

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.