Yousif Capital Management LLC Has $417,000 Holdings in RPC, Inc. (NYSE:RES)

Yousif Capital Management LLC cut its holdings in RPC, Inc. (NYSE:RESFree Report) by 3.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 46,623 shares of the oil and gas company’s stock after selling 1,850 shares during the quarter. Yousif Capital Management LLC’s holdings in RPC were worth $417,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in RES. Envestnet Asset Management Inc. acquired a new position in RPC in the first quarter valued at approximately $193,000. Raymond James & Associates acquired a new position in RPC in the first quarter valued at approximately $127,000. Bank of New York Mellon Corp lifted its stake in RPC by 14.6% in the first quarter. Bank of New York Mellon Corp now owns 746,489 shares of the oil and gas company’s stock valued at $7,965,000 after buying an additional 95,260 shares during the period. Citigroup Inc. lifted its stake in RPC by 12.6% in the first quarter. Citigroup Inc. now owns 60,635 shares of the oil and gas company’s stock valued at $647,000 after buying an additional 6,767 shares during the period. Finally, Natixis Advisors L.P. acquired a new position in RPC in the first quarter valued at approximately $288,000. 36.53% of the stock is owned by institutional investors and hedge funds.

RPC Trading Up 2.7 %

Shares of RPC stock opened at $7.62 on Wednesday. The stock has a fifty day simple moving average of $7.11 and a 200 day simple moving average of $7.92. RPC, Inc. has a 12-month low of $6.34 and a 12-month high of $10.17. The company has a market capitalization of $1.65 billion, a P/E ratio of 8.47 and a beta of 1.60.

RPC (NYSE:RESGet Free Report) last posted its quarterly earnings data 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 return on equity of 21.26% and a net margin of 12.06%. The business had revenue of $394.50 million for the quarter, compared to analysts’ expectations of $374.22 million. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The business’s revenue was down 18.2% on a year-over-year basis. On average, analysts predict that RPC, Inc. will post 0.83 EPS for the current year.

RPC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 11th. Shareholders of record on Friday, February 9th will be given a $0.04 dividend. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $0.16 annualized dividend and a yield of 2.10%. RPC’s dividend payout ratio is currently 17.78%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on RES shares. StockNews.com started coverage on RPC in a report on Thursday, October 5th. They set a “hold” rating for the company. Citigroup boosted their price objective on RPC from $7.00 to $8.00 and gave the company a “sell” rating in a report on Thursday, October 26th.

View Our Latest Stock Report on RPC

About RPC

(Free Report)

RPC, Inc, through its subsidiaries, provides 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. It 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.

Further Reading

Institutional Ownership by Quarter for RPC (NYSE:RES)

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