RPC, Inc. (NYSE:RES) Shares Bought by Empowered Funds LLC

Empowered Funds LLC grew its stake in RPC, Inc. (NYSE:RES) by 5.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 928,958 shares of the oil and gas company’s stock after buying an additional 45,468 shares during the period. Empowered Funds LLC owned 0.43% of RPC worth $5,518,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Barclays PLC boosted its stake in RPC by 230.1% in the third quarter. Barclays PLC now owns 182,943 shares of the oil and gas company’s stock valued at $1,163,000 after acquiring an additional 127,525 shares in the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of RPC in the 3rd quarter valued at about $5,917,000. JPMorgan Chase & Co. boosted its position in shares of RPC by 17.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 489,401 shares of the oil and gas company’s stock valued at $3,113,000 after purchasing an additional 71,064 shares during the period. International Assets Investment Management LLC grew its stake in RPC by 540.4% during the 3rd quarter. International Assets Investment Management LLC now owns 4,560 shares of the oil and gas company’s stock worth $29,000 after buying an additional 3,848 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in RPC by 7.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,509,478 shares of the oil and gas company’s stock worth $9,600,000 after buying an additional 106,108 shares during the period. 41.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Susquehanna decreased their price objective on RPC from $6.50 to $6.00 and set a “neutral” rating for the company in a report on Friday, October 25th.

RPC Stock Performance

Shares of NYSE:RES opened at $6.12 on Wednesday. RPC, Inc. has a one year low of $5.54 and a one year high of $8.19. The stock has a market capitalization of $1.31 billion, a price-to-earnings ratio of 14.22 and a beta of 1.58. The company has a 50-day simple moving average of $6.21 and a 200-day simple moving average of $6.30.

RPC (NYSE:RES) last posted its quarterly earnings data 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%. As a group, research analysts forecast that RPC, Inc. will post 0.34 EPS for the current fiscal year.

RPC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be given a $0.04 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $0.16 dividend on an annualized basis and a yield of 2.62%. RPC’s dividend payout ratio (DPR) is 37.21%.

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.