Prudential Financial Inc. Sells 102,800 Shares of RPC, Inc. (NYSE:RES)

Prudential Financial Inc. lowered its holdings in RPC, Inc. (NYSE:RES) by 54.4% in the 4th quarter, HoldingsChannel reports. The firm owned 86,195 shares of the oil and gas company’s stock after selling 102,800 shares during the quarter. Prudential Financial Inc.’s holdings in RPC were worth $512,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Nicholas Hoffman & Company LLC. purchased a new position in RPC during the 4th quarter worth $59,000. GAMMA Investing LLC grew its holdings in RPC by 437.4% in the fourth 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. acquired a new position in RPC during the fourth quarter worth $64,000. Ieq Capital LLC acquired a new stake in RPC in the 4th quarter worth about $65,000. Finally, Nisa Investment Advisors LLC boosted its stake in RPC by 383.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 11,312 shares of the oil and gas company’s stock worth $67,000 after purchasing an additional 8,971 shares during the last quarter. Institutional investors own 41.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Citigroup upgraded shares of RPC from a “sell” rating to a “neutral” rating and cut their price objective for the stock from $5.50 to $4.75 in a research report on Tuesday.

RPC Stock Performance

NYSE:RES opened at $4.90 on Thursday. RPC, Inc. has a 1 year low of $4.10 and a 1 year high of $8.19. The stock has a market cap of $1.06 billion, a P/E ratio of 11.40 and a beta of 1.27. The stock has a 50-day simple moving average of $5.53 and a 200-day simple moving average of $6.02.

RPC (NYSE:RES) last announced its quarterly earnings data on Thursday, January 30th. The oil and gas company reported $0.06 EPS for the quarter, meeting analysts’ consensus estimates of $0.06. RPC had a net margin of 6.46% and a return on equity of 8.62%. On average, equities research analysts predict that RPC, Inc. will post 0.31 EPS for the current year.

RPC Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Monday, February 10th were issued a $0.04 dividend. The ex-dividend date was Monday, February 10th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 3.27%. RPC’s dividend payout ratio (DPR) is 37.21%.

RPC Company 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.