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

Mraz Amerine & Associates Inc. trimmed its position in shares of RPC, Inc. (NYSE:RES) by 6.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 255,280 shares of the oil and gas company’s stock after selling 18,992 shares during the period. Mraz Amerine & Associates Inc.’s holdings in RPC were worth $1,858,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Quarry LP increased its holdings in shares of RPC by 84.0% during the first quarter. Quarry LP now owns 3,764 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 1,718 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of RPC by 54.2% during the third quarter. Public Employees Retirement System of Ohio now owns 4,565 shares of the oil and gas company’s stock valued at $32,000 after acquiring an additional 1,605 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of RPC by 632.1% during the fourth quarter. International Assets Investment Management LLC now owns 5,125 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 4,425 shares in the last quarter. Advisor Group Holdings Inc. increased its holdings in shares of RPC by 165.3% during the fourth quarter. Advisor Group Holdings Inc. now owns 5,076 shares of the oil and gas company’s stock valued at $46,000 after acquiring an additional 3,163 shares in the last quarter. Finally, Coppell Advisory Solutions Corp. acquired a new position in shares of RPC during the fourth quarter valued at about $48,000. 41.06% of the stock is owned by hedge funds and other institutional investors.

RPC Stock Down 0.6 %

Shares of RES traded down $0.05 during mid-day trading on Wednesday, hitting $7.65. 1,115,858 shares of the company traded hands, compared to its average volume of 1,578,066. RPC, Inc. has a 1-year low of $6.34 and a 1-year high of $9.41. The business has a 50 day moving average of $7.53 and a 200 day moving average of $7.55. The company has a market capitalization of $1.65 billion, a PE ratio of 8.56 and a beta of 1.60.

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

RPC Dividend Announcement

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

Wall Street Analyst Weigh In

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

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.