Victory Capital Management Inc. cut its holdings in shares of RPC, Inc. (NYSE:RES) by 6.3% in the 4th quarter, Holdings Channel reports. The firm owned 1,936,730 shares of the oil and gas company’s stock after selling 130,211 shares during the quarter. Victory Capital Management Inc.’s holdings in RPC were worth $49,445,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Moody Aldrich Partners LLC increased its position in shares of RPC by 24.2% during the 4th quarter. Moody Aldrich Partners LLC now owns 61,452 shares of the oil and gas company’s stock valued at $1,569,000 after purchasing an additional 11,957 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of RPC by 343.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,282 shares of the oil and gas company’s stock valued at $237,000 after purchasing an additional 7,187 shares during the last quarter. Cypress Capital Management LLC WY purchased a new stake in shares of RPC during the 4th quarter valued at $262,000. Mutual of America Capital Management LLC increased its position in shares of RPC by 21.8% during the 4th quarter. Mutual of America Capital Management LLC now owns 175,738 shares of the oil and gas company’s stock valued at $4,487,000 after purchasing an additional 31,410 shares during the last quarter. Finally, Eqis Capital Management Inc. increased its position in shares of RPC by 13.1% during the 4th quarter. Eqis Capital Management Inc. now owns 22,171 shares of the oil and gas company’s stock valued at $566,000 after purchasing an additional 2,561 shares during the last quarter. 37.74% of the stock is owned by hedge funds and other institutional investors.

RPC, Inc. (NYSE:RES) opened at $20.30 on Wednesday. RPC, Inc. has a 12 month low of $16.63 and a 12 month high of $27.07. The company has a market capitalization of $4,251.58, a PE ratio of 27.07, a price-to-earnings-growth ratio of 0.66 and a beta of 0.73.

RPC (NYSE:RES) last issued its earnings results on Wednesday, January 24th. The oil and gas company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.16). RPC had a return on equity of 17.23% and a net margin of 10.19%. The company had revenue of $427.30 million during the quarter, compared to the consensus estimate of $515.04 million. During the same quarter in the prior year, the business earned ($0.10) EPS. The firm’s revenue for the quarter was up 93.3% compared to the same quarter last year. equities analysts forecast that RPC, Inc. will post 1.64 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 9th. Shareholders of record on Friday, February 9th will be paid a $0.10 dividend. The ex-dividend date is Thursday, February 8th. This represents a $0.40 annualized dividend and a yield of 1.97%. This is an increase from RPC’s previous quarterly dividend of $0.07. RPC’s dividend payout ratio (DPR) is currently 37.33%.

Several equities research analysts have recently issued reports on the company. B. Riley lowered RPC from a “buy” rating to a “neutral” rating and set a $27.00 target price for the company. in a research report on Friday, December 22nd. Stephens assumed coverage on RPC in a report on Tuesday, January 9th. They issued an “equal weight” rating and a $28.00 price objective for the company. Zacks Investment Research raised RPC from a “hold” rating to a “strong-buy” rating and set a $29.00 price objective for the company in a report on Thursday, January 4th. Jefferies Group set a $29.00 price objective on RPC and gave the stock a “hold” rating in a report on Thursday, January 4th. Finally, Cowen set a $28.00 price objective on RPC and gave the stock a “hold” rating in a report on Thursday, January 11th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $24.75.

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About RPC

RPC, Inc (RPC) is a holding company for several oilfield services companies. The Company provides a range of specialized oilfield services and equipment primarily to independent oil and gas companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the southwest, mid-continent, Gulf of Mexico, Rocky Mountain and Appalachian regions, and in selected international markets.

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Institutional Ownership by Quarter for RPC (NYSE:RES)

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