Nuveen Asset Management LLC lifted its position in shares of RPC, Inc. (NYSE:RES – Get Rating) by 37.2% during the third quarter, Holdings Channel reports. The institutional investor owned 992,807 shares of the oil and gas company’s stock after purchasing an additional 269,184 shares during the period. Nuveen Asset Management LLC’s holdings in RPC were worth $6,880,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Cipher Capital LP bought a new position in shares of RPC during the 3rd quarter valued at about $280,000. Envestnet Asset Management Inc. purchased a new stake in shares of RPC during the 3rd quarter valued at about $104,000. Credit Suisse AG raised its position in shares of RPC by 2.1% during the 3rd quarter. Credit Suisse AG now owns 51,753 shares of the oil and gas company’s stock valued at $358,000 after buying an additional 1,086 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of RPC by 2.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 5,466,372 shares of the oil and gas company’s stock valued at $37,882,000 after buying an additional 127,224 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of RPC by 249.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 11,147 shares of the oil and gas company’s stock valued at $77,000 after buying an additional 7,958 shares in the last quarter. Hedge funds and other institutional investors own 27.15% of the company’s stock.
RPC Price Performance
RPC stock opened at $8.45 on Monday. RPC, Inc. has a 1-year low of $5.70 and a 1-year high of $12.91. The firm has a market capitalization of $1.84 billion, a P/E ratio of 8.37 and a beta of 1.81. The company’s 50-day moving average is $9.22 and its 200 day moving average is $8.80.
RPC Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Friday, February 10th were given a $0.04 dividend. This is a positive change from RPC’s previous quarterly dividend of $0.02. This represents a $0.16 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend was Thursday, February 9th. RPC’s dividend payout ratio is 15.84%.
Wall Street Analyst Weigh In
Separately, StockNews.com upgraded shares of RPC from a “hold” rating to a “buy” rating in a research report on Wednesday, January 18th.
RPC, Inc engages in the exploration, production and development of oil and gas properties. It operates through the following segments: Technical Services and Support Services. The Technical Services segment provides oil and gas, fracturing, acidizing, coiled tubing, snubbing, nitrogen, well control, wireline and fishing services.
- Get a free copy of the StockNews.com research report on RPC (RES)
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