RPC, Inc. (NYSE:RES) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lowered its stake in shares of RPC, Inc. (NYSE:RES) by 6.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 48,046 shares of the oil and gas company’s stock after selling 3,567 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in RPC were worth $285,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in RES. Nicholas Hoffman & Company LLC. acquired a new stake in RPC during the fourth quarter worth approximately $59,000. Raymond James Financial Inc. acquired a new stake in RPC during the fourth quarter worth approximately $64,000. Ieq Capital LLC acquired a new position in shares of RPC in the 4th quarter valued at $65,000. Nisa Investment Advisors LLC increased its holdings in shares of RPC by 383.2% in the 4th 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 period. Finally, Renaissance Technologies LLC acquired a new position in shares of RPC in the 4th quarter valued at $68,000. Institutional investors and hedge funds own 41.06% of the company’s stock.

RPC Price Performance

Shares of RPC stock opened at $4.83 on Monday. The firm’s fifty day simple moving average is $5.03 and its 200-day simple moving average is $5.71. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 11.22 and a beta of 0.86. RPC, Inc. has a 12 month low of $4.10 and a 12 month high of $7.54.

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

RPC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be given a $0.04 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.16 dividend on an annualized basis and a yield of 3.32%. RPC’s dividend payout ratio (DPR) is 44.44%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on RES shares. Susquehanna cut their target price on shares of RPC from $6.00 to $5.50 and set a “neutral” rating on the stock in a report on Monday, April 14th. Citigroup raised shares of RPC from a “sell” rating to a “neutral” rating and cut their target price for the company from $5.50 to $4.75 in a report on Tuesday, April 8th.

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.