Edgestream Partners L.P. Acquires New Holdings in RPC, Inc. (NYSE:RES)

Edgestream Partners L.P. acquired a new stake in shares of RPC, Inc. (NYSE:RES) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 160,511 shares of the oil and gas company’s stock, valued at approximately $953,000.

Other institutional investors also recently added to or reduced their stakes in the company. Nicholas Hoffman & Company LLC. bought a new stake in RPC during the fourth quarter valued at about $59,000. GAMMA Investing LLC raised its stake in RPC by 437.4% in the fourth quarter. GAMMA Investing LLC now owns 10,087 shares of the oil and gas company’s stock valued at $60,000 after buying an additional 8,210 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in RPC in the fourth quarter valued at about $64,000. Paloma Partners Management Co purchased a new stake in RPC in the third quarter valued at about $69,000. Finally, Ieq Capital LLC purchased a new stake in RPC in the fourth quarter valued at about $65,000. Institutional investors own 41.06% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Citigroup increased their price target on RPC from $5.25 to $5.50 and gave the company a “sell” rating in a research note on Thursday, February 20th.

RPC Stock Down 1.9 %

Shares of NYSE:RES opened at $5.30 on Wednesday. RPC, Inc. has a 52-week low of $5.04 and a 52-week high of $8.19. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 12.31 and a beta of 1.52. The business has a 50-day moving average price of $6.12 and a 200-day moving average price of $6.18.

RPC (NYSE:RES) last announced its quarterly earnings data on Thursday, January 30th. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, hitting 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, equities analysts anticipate that RPC, Inc. will post 0.31 EPS for the current fiscal year.

RPC Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend was Monday, February 10th. RPC’s payout ratio is 37.21%.

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.