Monument Capital Management Takes Position in RPC, Inc. (NYSE:RES)

Monument Capital Management acquired a new position in shares of RPC, Inc. (NYSE:RES) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 15,688 shares of the oil and gas company’s stock, valued at approximately $93,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RES. International Assets Investment Management LLC boosted its stake in shares of 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 acquiring an additional 3,848 shares in the last quarter. GAMMA Investing LLC raised its holdings in RPC by 437.4% during the fourth quarter. GAMMA Investing LLC now owns 10,087 shares of the oil and gas company’s stock worth $60,000 after purchasing an additional 8,210 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in RPC by 383.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 11,312 shares of the oil and gas company’s stock worth $67,000 after purchasing an additional 8,971 shares in the last quarter. Paloma Partners Management Co acquired a new stake in RPC in the third quarter valued at $69,000. Finally, Townsquare Capital LLC purchased a new position in shares of RPC in the third quarter valued at $73,000. 41.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

RPC Price Performance

Shares of RPC stock opened at $6.14 on Tuesday. RPC, Inc. has a 1 year low of $5.54 and a 1 year high of $8.19. The business has a 50 day moving average price of $6.21 and a 200 day moving average price of $6.26. The company has a market capitalization of $1.32 billion, a P/E ratio of 14.27 and a beta of 1.58.

RPC (NYSE:RES) last released its quarterly earnings results on Thursday, January 30th. The oil and gas company reported $0.06 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.06. RPC had a return on equity of 8.62% and a net margin of 6.46%. As a group, research analysts expect that RPC, Inc. will post 0.34 EPS for the current fiscal year.

RPC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Shareholders of record on Monday, February 10th will be issued 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 2.61%. RPC’s dividend payout ratio (DPR) 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.