RPC, Inc. (NYSE:RES) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. decreased its holdings in RPC, Inc. (NYSE:RES - Free Report) by 54.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,195 shares of the oil and gas company's stock after selling 102,800 shares during the period. Prudential Financial Inc.'s holdings in RPC were worth $512,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of RES. Van ECK Associates Corp grew its holdings in RPC by 27.2% during the 4th quarter. Van ECK Associates Corp now owns 2,838,991 shares of the oil and gas company's stock worth $16,863,000 after acquiring an additional 607,255 shares in the last quarter. American Century Companies Inc. grew its stake in shares of RPC by 11.2% during the fourth quarter. American Century Companies Inc. now owns 3,039,581 shares of the oil and gas company's stock worth $18,055,000 after purchasing an additional 306,976 shares in the last quarter. State Street Corp grew its stake in shares of RPC by 6.2% during the third quarter. State Street Corp now owns 4,202,844 shares of the oil and gas company's stock worth $26,730,000 after purchasing an additional 245,372 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in RPC by 12.5% in the fourth quarter. Bank of New York Mellon Corp now owns 1,761,776 shares of the oil and gas company's stock valued at $10,465,000 after buying an additional 195,414 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in RPC by 11.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,689,779 shares of the oil and gas company's stock valued at $10,037,000 after buying an additional 180,301 shares in the last quarter. Hedge funds and other institutional investors own 41.06% of the company's stock.

RPC Stock Performance

Shares of RES stock traded up $0.05 during mid-day trading on Tuesday, hitting $4.81. 171,074 shares of the stock were exchanged, compared to its average volume of 1,694,837. The stock's fifty day simple moving average is $5.44 and its two-hundred day simple moving average is $5.98. RPC, Inc. has a 12-month low of $4.10 and a 12-month high of $8.14. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 11.18 and a beta of 1.27.

RPC (NYSE:RES - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The oil and gas company reported $0.06 EPS for the quarter, hitting the consensus estimate of $0.06. RPC had a return on equity of 8.62% and a net margin of 6.46%. On average, research analysts expect that RPC, Inc. will post 0.31 earnings per share for the current fiscal year.

RPC Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a $0.04 dividend. The ex-dividend date was Monday, February 10th. This represents a $0.16 annualized dividend and a yield of 3.32%. RPC's dividend payout ratio (DPR) is 37.21%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Susquehanna dropped their price objective on RPC from $6.00 to $5.50 and set a "neutral" rating on the stock in a report on Monday. Citigroup raised shares of RPC from a "sell" rating to a "neutral" rating and cut their price objective for the stock from $5.50 to $4.75 in a report on Tuesday, April 8th.

RPC Company Profile

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.