Sei Investments Co. Buys 15,340 Shares of RPC, Inc. (NYSE:RES)

Sei Investments Co. lifted its stake in shares of RPC, Inc. (NYSE:RES) by 37.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 56,304 shares of the oil and gas company’s stock after acquiring an additional 15,340 shares during the period. Sei Investments Co.’s holdings in RPC were worth $334,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Van ECK Associates Corp increased its position in RPC by 27.2% in the 4th quarter. Van ECK Associates Corp now owns 2,838,991 shares of the oil and gas company’s stock valued at $16,863,000 after buying an additional 607,255 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of RPC by 11.2% in the 4th quarter. American Century Companies Inc. now owns 3,039,581 shares of the oil and gas company’s stock worth $18,055,000 after purchasing an additional 306,976 shares in the last quarter. State Street Corp grew its position in RPC by 6.2% in the 3rd quarter. State Street Corp now owns 4,202,844 shares of the oil and gas company’s stock valued at $26,730,000 after purchasing an additional 245,372 shares during the period. Bank of New York Mellon Corp increased its stake in RPC by 12.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,761,776 shares of the oil and gas company’s stock valued at $10,465,000 after purchasing an additional 195,414 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in RPC by 11.9% during the fourth 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 buying an additional 180,301 shares during the last quarter. 41.06% of the stock is owned by institutional investors.

RPC Stock Down 5.2 %

Shares of NYSE:RES opened at $4.65 on Friday. The business’s 50 day moving average is $5.50 and its 200 day moving average is $6.00. RPC, Inc. has a 12-month low of $4.10 and a 12-month high of $8.19. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of 10.80 and a beta of 1.27.

RPC (NYSE:RES) last posted its quarterly earnings data on Thursday, January 30th. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.06. RPC had a net margin of 6.46% and a return on equity of 8.62%. As a group, equities research analysts expect that RPC, Inc. will post 0.31 earnings per share for the current year.

RPC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 10th. Shareholders of record on Monday, February 10th were given a dividend of $0.04 per share. The ex-dividend date was Monday, February 10th. This represents a $0.16 annualized dividend and a dividend yield of 3.44%. RPC’s dividend payout ratio is currently 37.21%.

Wall Street Analysts Forecast Growth

Separately, Citigroup upgraded shares of RPC from a “sell” rating to a “neutral” rating and reduced their price objective for the company from $5.50 to $4.75 in a report on Tuesday.

RPC Company 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.