RPC, Inc. (NYSE:RES) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. cut its stake in RPC, Inc. (NYSE:RES) by 13.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,658,503 shares of the oil and gas company’s stock after selling 1,366,670 shares during the quarter. Pacer Advisors Inc. owned approximately 4.04% of RPC worth $54,116,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of RES. CWM LLC lifted its position 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 acquiring an additional 3,678 shares in the last quarter. Register Financial Advisors LLC purchased a new position in RPC in the 1st quarter valued at $39,000. Innealta Capital LLC purchased a new position in RPC in the 2nd quarter valued at $44,000. ICA Group Wealth Management LLC acquired a new stake in RPC during the 4th quarter worth $47,000. Finally, TFO Wealth Partners LLC grew its holdings in shares of RPC by 304,100.0% during the fourth quarter. TFO Wealth Partners LLC now owns 9,126 shares of the oil and gas company’s stock worth $66,000 after buying an additional 9,123 shares in the last quarter. 41.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RES has been the topic of a number of recent research reports. Stifel Nicolaus lowered their price target on shares of RPC from $8.00 to $7.00 and set a “hold” rating on the stock in a research report on Tuesday, July 16th. Citigroup lowered their target price on RPC from $6.75 to $5.25 and set a “sell” rating on the stock in a report on Wednesday, July 10th. Finally, Susquehanna cut their price target on RPC from $7.00 to $6.50 and set a “neutral” rating for the company in a report on Thursday, July 11th.

RPC Trading Up 0.3 %

Shares of RES opened at $6.57 on Friday. RPC, Inc. has a 12-month low of $5.66 and a 12-month high of $9.41. The firm has a market capitalization of $1.41 billion, a P/E ratio of 9.39 and a beta of 1.56. The firm has a 50-day moving average price of $6.35 and a 200 day moving average price of $6.77.

RPC (NYSE:RES) last announced its quarterly earnings results on Thursday, July 25th. The oil and gas company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business’s revenue was down 12.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.30 EPS. Equities research analysts predict that RPC, Inc. will post 0.56 earnings per share for the current fiscal year.

RPC Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Friday, August 9th were given a $0.04 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.16 dividend on an annualized basis and a yield of 2.44%. RPC’s dividend payout ratio is currently 22.86%.

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.