Charles Schwab Investment Management Inc. Acquires 180,301 Shares of RPC, Inc. (NYSE:RES)

Charles Schwab Investment Management Inc. lifted its position in shares of RPC, Inc. (NYSE:RES) by 11.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,689,779 shares of the oil and gas company’s stock after purchasing an additional 180,301 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in RPC were worth $10,037,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of RES. Nicholas Hoffman & Company LLC. acquired a new position in shares of RPC during the fourth quarter worth approximately $59,000. GAMMA Investing LLC raised its position in shares of RPC by 437.4% during the fourth quarter. GAMMA Investing LLC now owns 10,087 shares of the oil and gas company’s stock worth $60,000 after purchasing an additional 8,210 shares during the period. Ieq Capital LLC acquired a new position in shares of RPC during the fourth quarter worth approximately $65,000. Nisa Investment Advisors LLC raised its position in shares of RPC by 383.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 11,312 shares of the oil and gas company’s stock worth $67,000 after purchasing an additional 8,971 shares during the period. Finally, Paloma Partners Management Co acquired a new position in shares of RPC during the third quarter worth approximately $69,000. 41.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Citigroup upped their target price on RPC from $5.25 to $5.50 and gave the stock a “sell” rating in a research report on Thursday, February 20th.

RPC Trading Down 0.3 %

NYSE RES opened at $5.47 on Friday. The firm has a market capitalization of $1.18 billion, a P/E ratio of 12.71 and a beta of 1.52. The business has a fifty day simple moving average of $6.00 and a 200 day simple moving average of $6.12. RPC, Inc. has a 12 month low of $5.04 and a 12 month high of $8.19.

RPC (NYSE:RES) last released its quarterly earnings results on Thursday, January 30th. The oil and gas company reported $0.06 EPS for the quarter, meeting analysts’ consensus estimates of $0.06. RPC had a return on equity of 8.62% and a net margin of 6.46%. As a group, sell-side analysts predict that RPC, Inc. will post 0.31 EPS for the current fiscal year.

RPC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date of this dividend was Monday, February 10th. RPC’s payout ratio is currently 37.21%.

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.