Royce & Associates LP Lowers Stock Position in RPC, Inc. (NYSE:RES)

Royce & Associates LP decreased its holdings in shares of RPC, Inc. (NYSE:RES - Free Report) 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.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its position in shares of RPC by 38.9% in 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 buying an additional 3,371,490 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in RPC in the third quarter valued at $5,917,000. Van ECK Associates Corp grew its holdings in shares of RPC by 27.2% during the fourth quarter. Van ECK Associates Corp now owns 2,838,991 shares of the oil and gas company's stock worth $16,863,000 after purchasing an additional 607,255 shares during the last quarter. State Street Corp grew its holdings 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 during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of RPC by 12.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,761,776 shares of the oil and gas company's stock worth $10,465,000 after purchasing an additional 195,414 shares in the last quarter. 41.06% of the stock is owned by institutional investors and hedge funds.

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RPC Stock Performance

RPC stock traded down $0.02 during midday trading on Friday, hitting $5.47. 8,759,811 shares of the company's stock were exchanged, compared to its average volume of 1,638,901. The firm's 50 day simple moving average is $6.00 and its 200 day simple moving average is $6.12. RPC, Inc. has a 12-month low of $5.04 and a 12-month high of $8.19. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 12.71 and a beta of 1.52.

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

RPC Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.93%. The ex-dividend date of this dividend was Monday, February 10th. RPC's payout ratio is currently 37.21%.

Wall Street Analysts Forecast Growth

Separately, Citigroup raised 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.

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.