Quadrature Capital Ltd boosted its position in RPC, Inc. (NYSE:RES – Get Rating) by 109.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 30,141 shares of the oil and gas company’s stock after acquiring an additional 15,773 shares during the quarter. Quadrature Capital Ltd’s holdings in RPC were worth $209,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. IFP Advisors Inc raised its stake in shares of RPC by 160.0% in the 3rd quarter. IFP Advisors Inc now owns 2,600 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 1,600 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of RPC in the 2nd quarter valued at about $51,000. Royal Bank of Canada raised its stake in shares of RPC by 2,200.9% in the 3rd quarter. Royal Bank of Canada now owns 10,009 shares of the oil and gas company’s stock valued at $69,000 after purchasing an additional 9,574 shares in the last quarter. LPL Financial LLC acquired a new stake in shares of RPC in the 2nd quarter valued at about $70,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of RPC by 249.5% in 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 purchasing an additional 7,958 shares in the last quarter. Institutional investors and hedge funds own 27.15% of the company’s stock.
RPC Stock Down 4.5 %
Shares of NYSE:RES opened at $8.07 on Tuesday. RPC, Inc. has a fifty-two week low of $5.70 and a fifty-two week high of $12.91. The firm has a 50-day simple moving average of $9.20 and a 200 day simple moving average of $8.80. The company has a market cap of $1.76 billion, a PE ratio of 7.99 and a beta of 1.81.
RPC Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Investors of record on Friday, February 10th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date was Thursday, February 9th. This is an increase from RPC’s previous quarterly dividend of $0.02. RPC’s dividend payout ratio is currently 15.84%.
Analyst Ratings Changes
Separately, StockNews.com upgraded shares of RPC from a “hold” rating to a “buy” rating in a research note 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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