Los Angeles Capital Management LLC Sells 141,502 Shares of RPC, Inc. (NYSE:RES)

Los Angeles Capital Management LLC lessened its stake in RPC, Inc. (NYSE:RES - Free Report) by 53.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 123,165 shares of the oil and gas company's stock after selling 141,502 shares during the quarter. Los Angeles Capital Management LLC owned 0.06% of RPC worth $897,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its holdings in RPC by 7.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 22,901 shares of the oil and gas company's stock worth $205,000 after purchasing an additional 1,548 shares during the last quarter. Rhumbline Advisers increased its position in shares of RPC by 0.6% in the third quarter. Rhumbline Advisers now owns 292,076 shares of the oil and gas company's stock valued at $2,611,000 after acquiring an additional 1,606 shares during the last quarter. Signaturefd LLC raised its holdings in RPC by 67.3% during the fourth quarter. Signaturefd LLC now owns 4,580 shares of the oil and gas company's stock worth $33,000 after acquiring an additional 1,843 shares in the last quarter. Arizona State Retirement System boosted its position in RPC by 10.5% during the fourth quarter. Arizona State Retirement System now owns 27,224 shares of the oil and gas company's stock valued at $198,000 after purchasing an additional 2,581 shares during the last quarter. Finally, Alps Advisors Inc. grew its stake in RPC by 7.3% in the third quarter. Alps Advisors Inc. now owns 40,349 shares of the oil and gas company's stock valued at $361,000 after purchasing an additional 2,759 shares in the last quarter. Institutional investors own 41.06% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Susquehanna cut their price objective on RPC from $8.00 to $7.00 and set a "neutral" rating for the company in a report on Friday, April 26th.

RPC Stock Down 2.3 %

Shares of RES stock traded down $0.16 on Friday, reaching $6.73. The stock had a trading volume of 974,858 shares, compared to its average volume of 1,629,227. RPC, Inc. has a 12 month low of $6.34 and a 12 month high of $9.41. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 9.67 and a beta of 1.65. The firm's 50-day moving average is $7.54 and its two-hundred day moving average is $7.39.

RPC (NYSE:RES - Get Free Report) last issued its earnings results on Thursday, April 25th. The oil and gas company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.06). RPC had a return on equity of 15.02% and a net margin of 9.95%. The business had revenue of $377.80 million for the quarter, compared to the consensus estimate of $393.33 million. During the same quarter in the prior year, the firm posted $0.39 earnings per share. The business's revenue was down 20.7% compared to the same quarter last year. On average, sell-side analysts forecast that RPC, Inc. will post 0.71 earnings per share for the current fiscal year.

RPC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Friday, May 10th will be paid a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date is Thursday, May 9th. RPC's dividend payout ratio is presently 22.86%.

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.