Pacer Advisors Inc. Lowers Stake in RPC, Inc. (NYSE:RES)

Pacer Advisors Inc. lessened its stake in RPC, Inc. (NYSE:RES - Free Report) by 37.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,539,764 shares of the oil and gas company's stock after selling 4,490,229 shares during the period. Pacer Advisors Inc. owned 3.51% of RPC worth $44,786,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. International Assets Investment Management LLC increased its stake in shares of RPC by 540.4% during the third 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 during the period. GAMMA Investing LLC raised its stake in shares of RPC by 437.4% during the 4th quarter. GAMMA Investing LLC now owns 10,087 shares of the oil and gas company's stock worth $60,000 after buying an additional 8,210 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of RPC by 383.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 11,312 shares of the oil and gas company's stock valued at $67,000 after buying an additional 8,971 shares in the last quarter. Paloma Partners Management Co purchased a new position in RPC in the third quarter worth $69,000. Finally, Townsquare Capital LLC acquired a new stake in RPC in the third quarter valued at $73,000. Hedge funds and other institutional investors own 41.06% of the company's stock.

RPC Price Performance

NYSE:RES traded down $0.05 on Friday, reaching $6.13. The stock had a trading volume of 2,115,460 shares, compared to its average volume of 1,626,592. RPC, Inc. has a 12-month low of $5.54 and a 12-month high of $8.19. The company has a market cap of $1.32 billion, a price-to-earnings ratio of 10.94 and a beta of 1.59. The firm's fifty day moving average is $6.26 and its two-hundred day moving average is $6.30.

RPC (NYSE:RES - Get Free Report) last announced its earnings results on Thursday, January 30th. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.06. RPC had a net margin of 8.07% and a return on equity of 11.36%. As a group, research analysts forecast that RPC, Inc. will post 0.43 earnings per share for the current fiscal year.

RPC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 10th. Investors of record on Monday, February 10th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 2.61%. RPC's payout ratio is currently 28.57%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Susquehanna cut their price target on shares of RPC from $6.50 to $6.00 and set a "neutral" rating for the company in a report on Friday, October 25th. Stifel Nicolaus cut their target price on shares of RPC from $8.00 to $7.00 and set a "hold" rating for the company in a research report on Friday, October 11th.

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.