RPC, Inc. (NYSE:RES) Holdings Cut by Quantbot Technologies LP

Quantbot Technologies LP cut its stake in shares of RPC, Inc. (NYSE:RES) by 54.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,737 shares of the oil and gas company’s stock after selling 66,856 shares during the quarter. Quantbot Technologies LP’s holdings in RPC were worth $337,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Semanteon Capital Management LP grew its stake in RPC by 17.4% during the 4th quarter. Semanteon Capital Management LP now owns 152,856 shares of the oil and gas company’s stock worth $908,000 after buying an additional 22,656 shares during the last quarter. First Eagle Investment Management LLC boosted its holdings in shares of RPC by 6.1% during 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. acquired a new position in shares of RPC during the fourth quarter valued at $953,000. Raymond James Financial Inc. bought a new position in shares of RPC during the fourth quarter worth about $64,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of RPC by 11.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,689,779 shares of the oil and gas company’s stock worth $10,037,000 after acquiring an additional 180,301 shares during the period. 41.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Citigroup upped their target price on shares of RPC from $5.25 to $5.50 and gave the stock a “sell” rating in a research report on Thursday, February 20th.

RPC Stock Performance

Shares of RES stock opened at $5.47 on Friday. RPC, Inc. has a 1 year low of $5.04 and a 1 year high of $8.19. The firm has a market capitalization of $1.18 billion, a PE ratio of 12.71 and a beta of 1.52. The stock has a fifty day moving average of $5.87 and a two-hundred day moving average of $6.11.

RPC (NYSE:RES) last posted 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 net margin of 6.46% and a return on equity of 8.62%. Equities research analysts predict that RPC, Inc. will post 0.31 earnings per share for the current fiscal year.

RPC Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.93%. RPC’s dividend payout ratio is presently 37.21%.

RPC 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.