Aigen Investment Management LP Raises Stock Position in RPC, Inc. (NYSE:RES)

Aigen Investment Management LP increased its stake in RPC, Inc. (NYSE:RESFree Report) by 740.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 110,665 shares of the oil and gas company’s stock after acquiring an additional 97,491 shares during the quarter. Aigen Investment Management LP’s holdings in RPC were worth $806,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its position in shares of RPC by 7.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 22,901 shares of the oil and gas company’s stock valued at $205,000 after acquiring an additional 1,548 shares during the last quarter. Rhumbline Advisers boosted its position in shares of RPC by 0.6% during the 3rd quarter. Rhumbline Advisers now owns 292,076 shares of the oil and gas company’s stock valued at $2,611,000 after acquiring an additional 1,606 shares during the last quarter. Signaturefd LLC boosted its position in shares of RPC by 67.3% during the 4th quarter. Signaturefd LLC now owns 4,580 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 1,843 shares during the last quarter. Arizona State Retirement System boosted its position in shares of RPC by 10.5% during the 4th quarter. Arizona State Retirement System now owns 27,224 shares of the oil and gas company’s stock valued at $198,000 after acquiring an additional 2,581 shares during the last quarter. Finally, Alps Advisors Inc. boosted its position in shares of RPC by 7.3% during the 3rd quarter. Alps Advisors Inc. now owns 40,349 shares of the oil and gas company’s stock valued at $361,000 after acquiring an additional 2,759 shares during the last quarter. Hedge funds and other institutional investors own 41.06% of the company’s stock.

RPC Trading Down 2.8 %

NYSE RES traded down $0.20 during trading hours on Wednesday, reaching $7.05. The company had a trading volume of 559,305 shares, compared to its average volume of 1,592,698. The stock has a market capitalization of $1.51 billion, a P/E ratio of 10.36 and a beta of 1.65. The stock has a 50-day moving average of $7.45 and a 200 day moving average of $7.29. RPC, Inc. has a 1-year low of $6.34 and a 1-year high of $9.41.

RPC (NYSE:RESGet Free Report) last issued its quarterly earnings results on Thursday, April 25th. The oil and gas company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The business had revenue of $377.80 million for the quarter, compared to analysts’ expectations of $393.33 million. RPC had a return on equity of 15.02% and a net margin of 9.95%. The firm’s revenue for the quarter was down 20.7% on a year-over-year basis. During the same quarter last year, the company earned $0.39 earnings per share. As a group, sell-side analysts predict that RPC, Inc. will post 0.71 EPS for the current year.

RPC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Friday, May 10th will be paid a dividend of $0.04 per share. The ex-dividend date is Thursday, May 9th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.27%. RPC’s payout ratio is 22.86%.

Analyst Ratings Changes

Separately, Susquehanna lowered their price target on shares of RPC from $8.00 to $7.00 and set a “neutral” rating on the stock in a research report on Friday, April 26th.

Get Our Latest Analysis on RPC

RPC Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for RPC (NYSE:RES)

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