Vanguard Group Inc. Sells 337,519 Shares of RPC, Inc. (NYSE:RES)

Vanguard Group Inc. lessened its position in RPC, Inc. (NYSE:RES - Free Report) by 3.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,484,235 shares of the oil and gas company's stock after selling 337,519 shares during the period. Vanguard Group Inc. owned about 4.84% of RPC worth $93,729,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in RES. Quarry LP lifted its holdings in RPC by 84.0% during the 1st quarter. Quarry LP now owns 3,764 shares of the oil and gas company's stock valued at $29,000 after purchasing an additional 1,718 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of RPC by 54.2% in 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 during the last quarter. Advisor Group Holdings Inc. boosted its holdings in shares of RPC by 165.3% in the 4th quarter. Advisor Group Holdings Inc. now owns 5,076 shares of the oil and gas company's stock worth $46,000 after acquiring an additional 3,163 shares in the last quarter. Coppell Advisory Solutions Corp. acquired a new position in RPC in the fourth quarter worth $48,000. Finally, Ameritas Investment Partners Inc. lifted its position in RPC by 37.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,026 shares of the oil and gas company's stock worth $50,000 after buying an additional 1,902 shares in the last quarter. Institutional investors own 41.06% of the company's stock.

RPC Price Performance

Shares of RES stock traded up $0.16 on Friday, reaching $7.98. 1,611,572 shares of the stock were exchanged, compared to its average volume of 1,635,766. The stock has a market cap of $1.72 billion, a PE ratio of 8.73 and a beta of 1.60. RPC, Inc. has a one year low of $6.34 and a one year high of $9.41. The stock has a 50 day moving average price of $7.42 and a 200 day moving average price of $7.63.

RPC (NYSE:RES - Get Free Report) last released its quarterly earnings data on Thursday, January 25th. The oil and gas company reported $0.19 EPS for the quarter, beating analysts' consensus estimates of $0.18 by $0.01. The business had revenue of $394.50 million during the quarter, compared to analysts' expectations of $374.22 million. RPC had a net margin of 12.06% and a return on equity of 21.26%. The firm's quarterly revenue was down 18.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 EPS. On average, research analysts expect that RPC, Inc. will post 0.88 earnings per share for the current fiscal year.

RPC Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Friday, February 9th were paid a $0.04 dividend. The ex-dividend date of this dividend was Thursday, February 8th. This represents a $0.16 annualized dividend and a dividend yield of 2.01%. RPC's dividend payout ratio is presently 17.78%.

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.