GAMMA Investing LLC Buys 8,210 Shares of RPC, Inc. (NYSE:RES)

GAMMA Investing LLC grew its stake in RPC, Inc. (NYSE:RES) by 437.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,087 shares of the oil and gas company’s stock after purchasing an additional 8,210 shares during the quarter. GAMMA Investing LLC’s holdings in RPC were worth $60,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC grew its holdings in shares of RPC by 540.4% in the third quarter. International Assets Investment Management LLC now owns 4,560 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 3,848 shares in the last quarter. Paloma Partners Management Co bought a new stake in RPC in the third quarter worth about $69,000. Townsquare Capital LLC purchased a new position in RPC in the third quarter valued at about $73,000. CWM LLC grew its position in shares of RPC by 130.0% during the 3rd quarter. CWM LLC now owns 11,758 shares of the oil and gas company’s stock valued at $75,000 after acquiring an additional 6,646 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its stake in shares of RPC by 38.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 14,821 shares of the oil and gas company’s stock worth $93,000 after purchasing an additional 4,136 shares during the last quarter. 41.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Susquehanna lowered their target price on RPC from $6.50 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, October 25th. Stifel Nicolaus dropped their price objective on shares of RPC from $8.00 to $7.00 and set a “hold” rating on the stock in a report on Friday, October 11th.

RPC Trading Up 3.1 %

RPC stock opened at $6.36 on Monday. The firm has a 50 day simple moving average of $6.06 and a 200 day simple moving average of $6.24. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 11.36 and a beta of 1.59. RPC, Inc. has a 1-year low of $5.54 and a 1-year high of $8.19.

RPC (NYSE:RES) last released its quarterly earnings data on Thursday, October 24th. The oil and gas company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.04). The firm had revenue of $337.70 million during the quarter, compared to the consensus estimate of $365.33 million. RPC had a net margin of 8.07% and a return on equity of 11.36%. RPC’s revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.08 earnings per share. On average, equities research analysts forecast that RPC, Inc. will post 0.43 EPS for the current year.

RPC Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Investors of record on Monday, November 11th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 2.52%. The ex-dividend date was Friday, November 8th. RPC’s payout ratio is 28.57%.

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.