RPC, Inc. (NYSE:RES) Shares Sold by Bridge City Capital LLC

Bridge City Capital LLC lowered its holdings in RPC, Inc. (NYSE:RES) by 1.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 277,945 shares of the oil and gas company’s stock after selling 2,923 shares during the period. Bridge City Capital LLC owned about 0.13% of RPC worth $1,651,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in RES. Barclays PLC grew its holdings in shares of RPC by 230.1% during the third quarter. Barclays PLC now owns 182,943 shares of the oil and gas company’s stock valued at $1,163,000 after buying an additional 127,525 shares in the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of RPC in the 3rd quarter valued at about $5,917,000. JPMorgan Chase & Co. lifted its position in shares of RPC by 17.0% in the third quarter. JPMorgan Chase & Co. now owns 489,401 shares of the oil and gas company’s stock worth $3,113,000 after purchasing an additional 71,064 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in RPC by 7.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,509,478 shares of the oil and gas company’s stock valued at $9,600,000 after purchasing an additional 106,108 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in RPC by 101.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 215,567 shares of the oil and gas company’s stock valued at $1,371,000 after buying an additional 108,737 shares during the period. 41.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

RPC Stock Performance

Shares of NYSE:RES opened at $5.47 on Friday. The business has a fifty day moving average of $6.00 and a 200-day moving average of $6.12. The firm has a market cap of $1.18 billion, a PE ratio of 12.71 and a beta of 1.52. RPC, Inc. has a twelve month low of $5.04 and a twelve month high of $8.19.

RPC (NYSE:RES) last announced its earnings results on Thursday, January 30th. The oil and gas company reported $0.06 EPS 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%. On average, analysts anticipate that RPC, Inc. will post 0.31 EPS for the current fiscal year.

RPC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given 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 was Monday, February 10th. RPC’s dividend payout ratio is currently 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.