RPC, Inc. (NYSE:RES) Shares Sold by Centiva Capital LP

Centiva Capital LP cut its position in RPC, Inc. (NYSE:RES) by 64.2% during the third quarter, HoldingsChannel.com reports. The fund owned 17,044 shares of the oil and gas company’s stock after selling 30,603 shares during the period. Centiva Capital LP’s holdings in RPC were worth $108,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Pacer Advisors Inc. boosted its stake in RPC by 38.9% during the 3rd quarter. Pacer Advisors Inc. now owns 12,029,993 shares of the oil and gas company’s stock worth $76,511,000 after purchasing an additional 3,371,490 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in RPC by 7.9% during the second quarter. Dimensional Fund Advisors LP now owns 10,456,497 shares of the oil and gas company’s stock worth $65,353,000 after acquiring an additional 769,578 shares during the last quarter. Victory Capital Management Inc. grew its stake in RPC by 48.7% during the 2nd quarter. Victory Capital Management Inc. now owns 2,004,789 shares of the oil and gas company’s stock valued at $12,530,000 after acquiring an additional 656,446 shares in the last quarter. Edgestream Partners L.P. purchased a new stake in shares of RPC in the second quarter valued at approximately $3,814,000. Finally, Marshall Wace LLP acquired a new stake in shares of RPC in the second quarter valued at approximately $3,349,000. 41.06% of the stock is currently owned by hedge funds and other institutional investors.

RPC Stock Down 1.0 %

NYSE:RES opened at $6.10 on Friday. RPC, Inc. has a 52 week low of $5.63 and a 52 week high of $8.19. The stock’s fifty day moving average is $6.25 and its two-hundred day moving average is $6.31. The company has a market capitalization of $1.31 billion, a P/E ratio of 10.89 and a beta of 1.61.

RPC (NYSE:RES) last announced its earnings results on Thursday, October 24th. The oil and gas company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.04). The company had revenue of $337.70 million for the quarter, compared to analysts’ expectations of $365.33 million. RPC had a return on equity of 11.36% and a net margin of 8.07%. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same period last year, the business earned $0.08 EPS. Sell-side analysts anticipate that RPC, Inc. will post 0.43 earnings per share for the current fiscal year.

RPC Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Monday, November 11th were paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend was Friday, November 8th. RPC’s dividend payout ratio (DPR) is 28.57%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RES. Stifel Nicolaus cut their target price on RPC from $8.00 to $7.00 and set a “hold” rating for the company in a research note on Friday, October 11th. Susquehanna cut their price objective on shares of RPC from $6.50 to $6.00 and set a “neutral” rating for the company in a research report on Friday, October 25th.

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.