Wealth Enhancement Advisory Services LLC Decreases Stake in RPC, Inc. (NYSE:RES)

Wealth Enhancement Advisory Services LLC reduced its stake in shares of RPC, Inc. (NYSE:RES) by 21.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,365 shares of the oil and gas company’s stock after selling 3,359 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in RPC were worth $73,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Dimensional Fund Advisors LP boosted its position in shares of RPC by 4.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 11,620,598 shares of the oil and gas company’s stock worth $69,025,000 after buying an additional 459,700 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of RPC by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 10,880,406 shares of the oil and gas company’s stock worth $64,630,000 after buying an additional 99,370 shares in the last quarter. Gamco Investors INC. ET AL raised its stake in RPC by 3.3% in the 4th quarter. Gamco Investors INC. ET AL now owns 3,081,429 shares of the oil and gas company’s stock valued at $18,304,000 after purchasing an additional 97,369 shares during the last quarter. American Century Companies Inc. raised its stake in 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 valued at $18,055,000 after purchasing an additional 306,976 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in RPC by 12.5% in 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 during the last quarter. 41.06% of the stock is currently owned by hedge funds and other institutional investors.

RPC Price Performance

NYSE RES opened at $5.21 on Thursday. RPC, Inc. has a 12 month low of $4.10 and a 12 month high of $7.54. The company has a 50-day moving average of $4.81 and a 200-day moving average of $5.50. The company has a market cap of $1.15 billion, a P/E ratio of 14.47 and a beta of 0.85.

RPC (NYSE:RES) last posted its quarterly earnings data 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 5.55% and a return on equity of 7.08%. The company had revenue of $332.88 million for the quarter, compared to analyst estimates of $326.72 million. During the same period in the prior year, the company earned $0.13 EPS. The company’s revenue was down 11.9% compared to the same quarter last year. As a group, equities research analysts anticipate that RPC, Inc. will post 0.31 EPS for the current year.

RPC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date was Friday, May 9th. RPC’s dividend payout ratio is currently 44.44%.

Analyst Ratings Changes

RES has been the subject of several analyst reports. 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 research note on Tuesday, April 8th. Susquehanna cut their target price on shares of RPC from $6.00 to $5.50 and set a “neutral” rating for the company in a research note on Monday, April 14th.

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.