RPC, Inc. (NYSE:RES) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lessened its stake in RPC, Inc. (NYSE:RES) by 34.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 80,245 shares of the oil and gas company’s stock after selling 42,100 shares during the period. Los Angeles Capital Management LLC’s holdings in RPC were worth $502,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bridge City Capital LLC grew its stake in shares of RPC by 0.8% in the first quarter. Bridge City Capital LLC now owns 240,187 shares of the oil and gas company’s stock valued at $1,859,000 after buying an additional 1,851 shares in the last quarter. Swiss National Bank grew its position in RPC by 1.4% in the 1st quarter. Swiss National Bank now owns 192,000 shares of the oil and gas company’s stock valued at $1,486,000 after acquiring an additional 2,600 shares in the last quarter. First Eagle Investment Management LLC increased its stake in RPC by 1.0% during the fourth quarter. First Eagle Investment Management LLC now owns 278,049 shares of the oil and gas company’s stock worth $2,024,000 after purchasing an additional 2,850 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of RPC by 17.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 24,393 shares of the oil and gas company’s stock worth $189,000 after purchasing an additional 3,650 shares in the last quarter. Finally, CWM LLC boosted its stake in shares of RPC by 256.5% in the second quarter. CWM LLC now owns 5,112 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 3,678 shares during the period. Hedge funds and other institutional investors own 41.06% of the company’s stock.

RPC Trading Up 1.0 %

RPC stock opened at $5.79 on Friday. The company has a fifty day simple moving average of $6.29 and a 200-day simple moving average of $6.81. The stock has a market cap of $1.24 billion, a P/E ratio of 8.26 and a beta of 1.56. RPC, Inc. has a 12-month low of $5.66 and a 12-month high of $9.41.

RPC (NYSE:RES) last issued its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.02. The business had revenue of $364.20 million during the quarter, compared to the consensus estimate of $381.18 million. RPC had a net margin of 8.08% and a return on equity of 11.52%. The company’s revenue was down 12.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.30 EPS. As a group, sell-side analysts forecast that RPC, Inc. will post 0.56 earnings per share for the current fiscal year.

RPC Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.16 dividend on an annualized basis and a yield of 2.77%. RPC’s payout ratio is currently 22.86%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on RES shares. Stifel Nicolaus cut their target price on shares of RPC from $8.00 to $7.00 and set a “hold” rating on the stock in a research note on Tuesday, July 16th. Susquehanna reduced their price objective on RPC from $7.00 to $6.50 and set a “neutral” rating on the stock in a research note on Thursday, July 11th. Finally, Citigroup decreased their target price on RPC from $6.75 to $5.25 and set a “sell” rating for the company in a report on Wednesday, July 10th.

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.