RPC, Inc. (NYSE:RES) Shares Sold by Cerity Partners LLC

Cerity Partners LLC trimmed its holdings in shares of RPC, Inc. (NYSE:RES) by 1.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 736,933 shares of the oil and gas company’s stock after selling 11,986 shares during the period. Cerity Partners LLC’s holdings in RPC were worth $5,365,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. BlackRock Inc. grew its holdings in RPC by 1.7% during the second quarter. BlackRock Inc. now owns 13,174,505 shares of the oil and gas company’s stock worth $94,198,000 after acquiring an additional 223,877 shares during the period. Vanguard Group Inc. grew its holdings in RPC by 14.0% during the third quarter. Vanguard Group Inc. now owns 9,644,518 shares of the oil and gas company’s stock worth $66,838,000 after acquiring an additional 1,180,773 shares during the period. Pacer Advisors Inc. grew its holdings in RPC by 274.1% during the fourth quarter. Pacer Advisors Inc. now owns 8,277,488 shares of the oil and gas company’s stock worth $60,260,000 after acquiring an additional 6,064,627 shares during the period. Dimensional Fund Advisors LP grew its holdings in RPC by 17.2% during the first quarter. Dimensional Fund Advisors LP now owns 5,917,560 shares of the oil and gas company’s stock worth $45,505,000 after acquiring an additional 866,947 shares during the period. Finally, Millennium Management LLC grew its holdings in RPC by 26.2% during the fourth quarter. Millennium Management LLC now owns 4,168,372 shares of the oil and gas company’s stock worth $37,057,000 after acquiring an additional 866,566 shares during the period. 41.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Susquehanna increased their price target on RPC from $6.50 to $8.00 and gave the company a “neutral” rating in a research report on Monday, April 8th.

RPC Stock Down 1.4 %

NYSE:RES opened at $7.70 on Wednesday. RPC, Inc. has a 1-year low of $6.34 and a 1-year high of $9.41. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 8.56 and a beta of 1.60. The stock has a fifty day simple moving average of $7.53 and a 200 day simple moving average of $7.55.

RPC (NYSE:RES) last released its quarterly earnings results on Thursday, January 25th. The oil and gas company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.01. RPC had a return on equity of 21.26% and a net margin of 12.06%. The business had revenue of $394.50 million during the quarter, compared to analyst estimates of $374.22 million. During the same quarter last year, the company posted $0.41 EPS. RPC’s revenue for the quarter was down 18.2% on a year-over-year basis. Equities analysts predict that RPC, Inc. will post 0.88 earnings per share for the current year.

RPC Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Friday, February 9th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $0.16 dividend on an annualized basis and a yield of 2.08%. RPC’s payout ratio is presently 17.78%.

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.