Royce & Associates LP Sells 88,219 Shares of RPC, Inc. $RES

Royce & Associates LP decreased its stake in shares of RPC, Inc. (NYSE:RES) by 21.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 326,108 shares of the oil and gas company’s stock after selling 88,219 shares during the period. Royce & Associates LP’s holdings in RPC were worth $1,774,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. American Century Companies Inc. boosted its stake in shares of RPC by 8.4% during the 3rd quarter. American Century Companies Inc. now owns 3,960,190 shares of the oil and gas company’s stock valued at $18,851,000 after purchasing an additional 308,361 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of RPC by 14.6% during the 3rd quarter. Van ECK Associates Corp now owns 2,219,973 shares of the oil and gas company’s stock valued at $10,567,000 after purchasing an additional 283,213 shares in the last quarter. Bridgeway Capital Management LLC boosted its stake in shares of RPC by 0.7% during the 3rd quarter. Bridgeway Capital Management LLC now owns 1,539,049 shares of the oil and gas company’s stock valued at $7,326,000 after purchasing an additional 9,991 shares in the last quarter. UBS Group AG boosted its stake in shares of RPC by 134.3% during the 3rd quarter. UBS Group AG now owns 1,499,425 shares of the oil and gas company’s stock valued at $7,137,000 after purchasing an additional 859,406 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of RPC by 44.0% during the 3rd quarter. Bank of America Corp DE now owns 1,388,128 shares of the oil and gas company’s stock valued at $6,607,000 after purchasing an additional 424,104 shares in the last quarter. Institutional investors own 41.06% of the company’s stock.

RPC Trading Down 1.3%

NYSE:RES opened at $6.61 on Friday. RPC, Inc. has a one year low of $4.18 and a one year high of $8.16. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.13 and a quick ratio of 2.61. The company’s 50-day simple moving average is $7.10 and its 200 day simple moving average is $6.28. The firm has a market capitalization of $1.47 billion, a P/E ratio of 73.46 and a beta of 0.69.

RPC (NYSE:RES) last posted its quarterly earnings data on Thursday, May 7th. The oil and gas company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02. RPC had a net margin of 1.20% and a return on equity of 4.82%. The business had revenue of $454.76 million for the quarter, compared to analyst estimates of $406.68 million. During the same quarter in the previous year, the firm posted $0.06 earnings per share. RPC’s quarterly revenue was up 36.6% on a year-over-year basis. As a group, analysts forecast that RPC, Inc. will post 0.2 EPS for the current fiscal year.

RPC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Monday, May 11th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, May 11th. This represents a $0.16 annualized dividend and a yield of 2.4%. RPC’s payout ratio is presently 177.78%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on RES shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of RPC in a research note on Tuesday, April 14th. Wall Street Zen lowered shares of RPC from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, Susquehanna lifted their target price on shares of RPC from $7.00 to $7.50 and gave the company a “neutral” rating in a research note on Friday, May 8th. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $5.63.

RPC Profile

RPC, Inc (NYSE: RES) provides essential equipment and services to companies engaged in the exploration, production and maintenance of oil and natural gas wells. The firm operates as an equity interest holding company, partnering with a network of independent service businesses to deliver a comprehensive suite of offerings for well completion and production operations.

Through its affiliated service companies, RPC offers pressure pumping and fracturing services, coiled tubing and nitrogen pumping, downhole tools and telemetry solutions, well intervention and workover services, along with rental tools and supply-chain logistics.