Envestnet Asset Management Inc. Sells 2,608 Shares of RPC, Inc. (NYSE:RES)

Envestnet Asset Management Inc. decreased its holdings in shares of RPC, Inc. (NYSE:RES) by 0.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 281,912 shares of the oil and gas company’s stock after selling 2,608 shares during the quarter. Envestnet Asset Management Inc. owned about 0.13% of RPC worth $1,675,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Nicholas Hoffman & Company LLC. bought a new position in RPC in the fourth quarter valued at approximately $59,000. GAMMA Investing LLC boosted its stake in RPC by 437.4% in the fourth quarter. GAMMA Investing LLC now owns 10,087 shares of the oil and gas company’s stock valued at $60,000 after acquiring an additional 8,210 shares during the last quarter. Raymond James Financial Inc. bought a new position in RPC in the fourth quarter valued at approximately $64,000. Ieq Capital LLC bought a new position in RPC in the fourth quarter valued at approximately $65,000. Finally, Nisa Investment Advisors LLC boosted its stake in RPC by 383.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 11,312 shares of the oil and gas company’s stock valued at $67,000 after acquiring an additional 8,971 shares during the last quarter. 41.06% of the stock is owned by institutional investors.

RPC Stock Down 1.6 %

Shares of NYSE RES opened at $4.98 on Tuesday. The company’s fifty day moving average is $5.22 and its 200-day moving average is $5.85. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 11.58 and a beta of 1.27. RPC, Inc. has a twelve month low of $4.10 and a twelve month high of $7.54.

RPC (NYSE:RES) last announced its quarterly earnings results on Thursday, April 24th. The oil and gas company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The firm had revenue of $332.88 million for the quarter, compared to the consensus estimate of $326.72 million. RPC had a return on equity of 8.62% and a net margin of 6.46%. The company’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.13 earnings per share. On average, research analysts anticipate that RPC, Inc. will post 0.31 EPS for the current fiscal year.

RPC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be issued a dividend of $0.04 per share. The ex-dividend date is Friday, May 9th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 3.21%. RPC’s payout ratio is 37.21%.

Analyst Ratings Changes

A number of equities analysts have issued reports on RES shares. Susquehanna reduced their price objective on shares of RPC from $6.00 to $5.50 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Citigroup raised 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 research note on Tuesday, April 8th.

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.