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

Royce & Associates LP lowered its position in shares of RPC, Inc. (NYSE:RES) by 16.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,138,812 shares of the oil and gas company’s stock after selling 229,061 shares during the period. Royce & Associates LP’s holdings in RPC were worth $6,765,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of RES. Pacer Advisors Inc. boosted 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 purchasing an additional 3,371,490 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in 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 valued at $9,600,000 after purchasing an additional 106,108 shares during the last quarter. Quantbot Technologies LP boosted its holdings in RPC by 129.6% during the third 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 in the last quarter. BNP Paribas Financial Markets grew its position in RPC by 101.8% in the third quarter. BNP Paribas Financial Markets now owns 215,567 shares of the oil and gas company’s stock worth $1,371,000 after buying an additional 108,737 shares during the last quarter. Finally, Townsquare Capital LLC bought a new position in shares of RPC in the third quarter valued at $73,000. 41.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

RPC Price Performance

Shares of RES opened at $5.38 on Wednesday. RPC, Inc. has a one year low of $5.04 and a one year high of $8.19. The company has a 50-day moving average of $6.04 and a two-hundred day moving average of $6.14. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 12.50 and a beta of 1.52.

RPC (NYSE:RES) last posted its quarterly earnings data on Thursday, January 30th. The oil and gas company reported $0.06 EPS for the quarter, hitting analysts’ consensus estimates of $0.06. RPC had a net margin of 6.46% and a return on equity of 8.62%. Analysts anticipate that RPC, Inc. will post 0.31 earnings per share for the current year.

RPC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.98%. RPC’s dividend payout ratio 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.