Quantbot Technologies LP Trims Position in RPC, Inc. (NYSE:RES)

Quantbot Technologies LP lessened its position in RPC, Inc. (NYSE:RES - Free Report) by 54.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 56,737 shares of the oil and gas company's stock after selling 66,856 shares during the period. Quantbot Technologies LP's holdings in RPC were worth $337,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Semanteon Capital Management LP lifted its holdings in shares of RPC by 17.4% in the 4th quarter. Semanteon Capital Management LP now owns 152,856 shares of the oil and gas company's stock valued at $908,000 after buying an additional 22,656 shares during the period. First Eagle Investment Management LLC lifted its holdings in RPC by 6.1% in the fourth quarter. First Eagle Investment Management LLC now owns 312,649 shares of the oil and gas company's stock valued at $1,857,000 after acquiring an additional 18,000 shares during the period. Edgestream Partners L.P. purchased a new stake in shares of RPC during the 4th quarter worth $953,000. Raymond James Financial Inc. acquired a new position in RPC during the fourth quarter worth about $64,000. Finally, Charles Schwab Investment Management Inc. increased its holdings 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.

Analyst Upgrades and Downgrades

Separately, Citigroup boosted their price target on RPC from $5.25 to $5.50 and gave the stock a "sell" rating in a research note on Thursday, February 20th.

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RPC Stock Up 2.5 %

Shares of RPC stock traded up $0.14 on Wednesday, hitting $5.72. The company's stock had a trading volume of 1,213,817 shares, compared to its average volume of 1,680,242. The firm has a fifty day moving average price of $5.80 and a 200-day moving average price of $6.11. RPC, Inc. has a 52-week low of $5.04 and a 52-week high of $8.19. The company has a market capitalization of $1.24 billion, a P/E ratio of 13.30 and a beta of 1.52.

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, 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 expect that RPC, Inc. will post 0.31 earnings per share for the current year.

RPC Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were issued a $0.04 dividend. The ex-dividend date was Monday, February 10th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.80%. RPC's dividend payout ratio (DPR) 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.