Mraz Amerine & Associates Inc. Trims Stock Position in RPC, Inc. (NYSE:RES)

Mraz Amerine & Associates Inc. reduced its stake in shares of RPC, Inc. (NYSE:RES) by 87.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,042 shares of the oil and gas company’s stock after selling 211,368 shares during the quarter. Mraz Amerine & Associates Inc.’s holdings in RPC were worth $188,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. nVerses Capital LLC raised its stake in shares of RPC by 352.9% during the second quarter. nVerses Capital LLC now owns 15,400 shares of the oil and gas company’s stock worth $96,000 after purchasing an additional 12,000 shares during the last quarter. Innealta Capital LLC acquired a new stake in shares of RPC in the 2nd quarter valued at approximately $44,000. CWM LLC lifted its holdings in RPC by 256.5% in the second quarter. CWM LLC now owns 5,112 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 3,678 shares during the period. Boston Partners purchased a new stake in shares of RPC during the 1st quarter worth $848,000. Finally, Hancock Whitney Corp grew its stake in shares of RPC by 14.9% during the 1st quarter. Hancock Whitney Corp now owns 43,979 shares of the oil and gas company’s stock worth $340,000 after purchasing an additional 5,699 shares during the period. 41.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on RES. Susquehanna dropped their target price on shares of RPC from $7.00 to $6.50 and set a “neutral” rating for the company in a report on Thursday, July 11th. Citigroup lowered their target price on RPC from $6.75 to $5.25 and set a “sell” rating on the stock in a report on Wednesday, July 10th. Finally, Stifel Nicolaus dropped their price target on RPC from $8.00 to $7.00 and set a “hold” rating for the company in a research report on Tuesday, July 16th.

RPC Trading Up 0.3 %

Shares of RPC stock traded up $0.02 during trading hours on Monday, reaching $6.42. 1,443,800 shares of the company’s stock were exchanged, compared to its average volume of 1,671,959. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of 9.17 and a beta of 1.59. RPC, Inc. has a 52-week low of $5.66 and a 52-week high of $9.41. The company has a fifty day moving average of $6.34 and a 200-day moving average of $6.89.

RPC (NYSE:RES) last posted its quarterly earnings data on Thursday, July 25th. The oil and gas company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.02. RPC had a net margin of 8.08% and a return on equity of 11.52%. The company had revenue of $364.20 million during the quarter, compared to the consensus estimate of $381.18 million. During the same quarter in the prior year, the company posted $0.30 EPS. The company’s quarterly revenue was down 12.4% compared to the same quarter last year. On average, equities research analysts anticipate that RPC, Inc. will post 0.56 earnings per share for the current fiscal year.

RPC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.49%. RPC’s payout ratio is 22.86%.

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.