Charles Schwab Investment Management Inc. Has $10.04 Million Position in RPC, Inc. (NYSE:RES)

Charles Schwab Investment Management Inc. increased its position in RPC, Inc. (NYSE:RES) by 11.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,689,779 shares of the oil and gas company’s stock after buying an additional 180,301 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.79% of RPC worth $10,037,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nicholas Hoffman & Company LLC. acquired a new position in shares of RPC in the fourth quarter valued at approximately $59,000. GAMMA Investing LLC boosted its holdings in RPC by 437.4% in the fourth quarter. GAMMA Investing LLC now owns 10,087 shares of the oil and gas company’s stock valued at $60,000 after acquiring an additional 8,210 shares during the last quarter. Ieq Capital LLC bought a new stake in RPC in the fourth quarter valued at approximately $65,000. Nisa Investment Advisors LLC boosted its holdings in RPC by 383.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 11,312 shares of the oil and gas company’s stock valued at $67,000 after acquiring an additional 8,971 shares during the last quarter. Finally, Paloma Partners Management Co bought a new stake in RPC in the third quarter valued at approximately $69,000. Institutional investors and hedge funds own 41.06% of the company’s stock.

Wall Street Analysts Forecast Growth

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

RPC Price Performance

Shares of RES stock opened at $5.47 on Friday. The business’s 50 day simple moving average is $6.00 and its 200 day simple moving average is $6.12. RPC, Inc. has a one year low of $5.04 and a one year high of $8.19. The stock has a market capitalization of $1.18 billion, a PE ratio of 12.71 and a beta of 1.52.

RPC (NYSE:RES) last posted its quarterly earnings results on Thursday, January 30th. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, hitting 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, research analysts expect that RPC, Inc. will post 0.31 earnings per share for the current year.

RPC Announces Dividend

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