Mraz Amerine & Associates Inc. Sells 18,992 Shares of RPC, Inc. (NYSE:RES)

Mraz Amerine & Associates Inc. trimmed its position in RPC, Inc. (NYSE:RES) by 6.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 255,280 shares of the oil and gas company’s stock after selling 18,992 shares during the quarter. Mraz Amerine & Associates Inc. owned 0.12% of RPC worth $1,858,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Credit Suisse AG increased its stake in RPC by 2.1% in the third quarter. Credit Suisse AG now owns 51,753 shares of the oil and gas company’s stock valued at $358,000 after acquiring an additional 1,086 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in RPC by 5.7% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 27,027 shares of the oil and gas company’s stock valued at $193,000 after buying an additional 1,461 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in RPC by 13.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,054 shares of the oil and gas company’s stock valued at $116,000 after buying an additional 1,540 shares in the last quarter. Captrust Financial Advisors boosted its position in RPC by 20.6% in the first quarter. Captrust Financial Advisors now owns 9,037 shares of the oil and gas company’s stock valued at $96,000 after buying an additional 1,545 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in RPC by 7.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 22,901 shares of the oil and gas company’s stock valued at $205,000 after buying an additional 1,548 shares in the last quarter. 41.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Susquehanna raised their target price on shares of RPC from $6.50 to $8.00 and gave the company a “neutral” rating in a research report on Monday, April 8th.

RPC Trading Down 0.6 %

RPC stock traded down $0.05 during mid-day trading on Wednesday, reaching $7.65. The company had a trading volume of 1,115,858 shares, compared to its average volume of 1,578,066. RPC, Inc. has a fifty-two week low of $6.34 and a fifty-two week high of $9.41. The company has a market cap of $1.65 billion, a P/E ratio of 8.56 and a beta of 1.60. The business has a fifty day simple moving average of $7.53 and a 200 day simple moving average of $7.55.

RPC (NYSE:RES) last issued its quarterly earnings results on Thursday, January 25th. The oil and gas company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The company had revenue of $394.50 million for the quarter, compared to analyst estimates of $374.22 million. RPC had a net margin of 12.06% and a return on equity of 21.26%. RPC’s revenue was down 18.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.41 earnings per share. Research analysts forecast that RPC, Inc. will post 0.88 EPS for the current year.

RPC Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Friday, February 9th were issued a dividend of $0.04 per share. The ex-dividend date was Thursday, February 8th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.09%. RPC’s dividend payout ratio (DPR) is presently 17.78%.

RPC Company 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.