RPC, Inc. (NYSE:RES) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. decreased its position in shares of RPC, Inc. (NYSE:RES) by 51.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,859 shares of the oil and gas company’s stock after selling 6,227 shares during the quarter. PNC Financial Services Group Inc.’s holdings in RPC were worth $35,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of RES. Nicholas Hoffman & Company LLC. purchased a new position in RPC during the fourth quarter valued at approximately $59,000. GAMMA Investing LLC lifted its stake in shares of RPC by 437.4% in the 4th quarter. GAMMA Investing LLC now owns 10,087 shares of the oil and gas company’s stock valued at $60,000 after purchasing an additional 8,210 shares during the period. Raymond James Financial Inc. purchased a new stake in RPC during the fourth quarter worth $64,000. Ieq Capital LLC acquired a new stake in RPC during the fourth quarter valued at $65,000. Finally, Nisa Investment Advisors LLC raised its position in shares of 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 worth $67,000 after acquiring an additional 8,971 shares during the period. Hedge funds and other institutional investors own 41.06% of the company’s stock.

RPC Stock Performance

RPC stock opened at $5.63 on Friday. The firm has a 50 day moving average price of $5.91 and a 200 day moving average price of $6.11. RPC, Inc. has a fifty-two week low of $5.04 and a fifty-two week high of $8.19. The company has a market capitalization of $1.22 billion, a PE ratio of 13.08 and a beta of 1.52.

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

RPC Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 10th. Investors of record on Monday, February 10th were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend was Monday, February 10th. RPC’s payout ratio is 37.21%.

Wall Street Analyst Weigh In

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

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.