Victory Capital Management Inc. Has $2.75 Million Stock Position in RPC, Inc. (NYSE:RES)

Victory Capital Management Inc. reduced its position in shares of RPC, Inc. (NYSE:RES - Free Report) by 75.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 463,037 shares of the oil and gas company's stock after selling 1,458,175 shares during the quarter. Victory Capital Management Inc. owned about 0.22% of RPC worth $2,750,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of RES. Steward Partners Investment Advisory LLC boosted its stake in shares of RPC by 9.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 21,950 shares of the oil and gas company's stock worth $130,000 after acquiring an additional 1,850 shares in the last quarter. HighTower Advisors LLC increased its stake in shares of RPC by 6.1% in the third quarter. HighTower Advisors LLC now owns 40,082 shares of the oil and gas company's stock worth $252,000 after acquiring an additional 2,288 shares during the last quarter. Inspire Investing LLC raised its stake in shares of RPC by 3.9% during the 4th quarter. Inspire Investing LLC now owns 66,994 shares of the oil and gas company's stock worth $398,000 after purchasing an additional 2,500 shares in the last quarter. Franklin Resources Inc. raised its position in RPC by 8.5% during the third quarter. Franklin Resources Inc. now owns 46,272 shares of the oil and gas company's stock valued at $324,000 after acquiring an additional 3,633 shares in the last quarter. Finally, HB Wealth Management LLC raised its holdings in shares of RPC by 12.9% during the 4th quarter. HB Wealth Management LLC now owns 32,280 shares of the oil and gas company's stock valued at $192,000 after purchasing an additional 3,697 shares in the last quarter. Institutional investors own 41.06% of the company's stock.

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Wall Street Analysts Forecast Growth

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

RPC Stock Performance

Shares of RES traded down $0.04 during mid-day trading on Thursday, hitting $5.50. The company's stock had a trading volume of 792,685 shares, compared to its average volume of 1,606,166. The firm has a market capitalization of $1.19 billion, a PE ratio of 12.80 and a beta of 1.52. The stock's 50-day moving average is $6.03 and its two-hundred day moving average is $6.14. RPC, Inc. has a one year low of $5.04 and a one year high of $8.19.

RPC (NYSE:RES - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The oil and gas company reported $0.06 earnings per share 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%. Analysts expect that RPC, Inc. will post 0.31 EPS for the current fiscal year.

RPC Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a $0.04 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $0.16 dividend on an annualized basis and a yield of 2.91%. RPC's 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.