RPC, Inc. (NYSE:RES) Position Lowered by Royce & Associates LP

Royce & Associates LP reduced its position in RPC, Inc. (NYSE:RES) by 16.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,138,812 shares of the oil and gas company’s stock after selling 229,061 shares during the quarter. Royce & Associates LP owned approximately 0.53% of RPC worth $6,765,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. raised its position in shares of RPC by 38.9% during the 3rd quarter. Pacer Advisors Inc. now owns 12,029,993 shares of the oil and gas company’s stock valued at $76,511,000 after acquiring an additional 3,371,490 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of RPC by 7.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,509,478 shares of the oil and gas company’s stock worth $9,600,000 after purchasing an additional 106,108 shares during the period. Quantbot Technologies LP lifted its position in shares of RPC by 129.6% in the 3rd quarter. Quantbot Technologies LP now owns 123,593 shares of the oil and gas company’s stock worth $786,000 after buying an additional 69,757 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of RPC by 101.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 215,567 shares of the oil and gas company’s stock valued at $1,371,000 after buying an additional 108,737 shares during the period. Finally, Townsquare Capital LLC bought a new stake in shares of RPC during the 3rd quarter valued at about $73,000. Institutional investors and hedge funds own 41.06% of the company’s stock.

RPC Stock Performance

RES stock opened at $5.38 on Wednesday. RPC, Inc. has a 1 year low of $5.04 and a 1 year high of $8.19. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 12.50 and a beta of 1.52. The stock’s fifty day moving average is $6.04 and its two-hundred day moving average is $6.14.

RPC (NYSE:RES) last issued its quarterly earnings data on Thursday, January 30th. The oil and gas company reported $0.06 earnings per share for the quarter, meeting the consensus estimate of $0.06. RPC had a net margin of 6.46% and a return on equity of 8.62%. As a group, analysts predict that RPC, Inc. will post 0.31 EPS for the current fiscal year.

RPC Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date was Monday, February 10th. RPC’s dividend payout ratio (DPR) is 37.21%.

Analyst Ratings Changes

Separately, Citigroup raised their target price on shares of RPC from $5.25 to $5.50 and gave the stock a “sell” rating in a report on Thursday, February 20th.

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.