Invesco Ltd. Trims Position in RPC, Inc. (NYSE:RES)

Invesco Ltd. cut its position in RPC, Inc. (NYSE:RES - Free Report) by 18.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 878,229 shares of the oil and gas company's stock after selling 203,447 shares during the quarter. Invesco Ltd. owned 0.41% of RPC worth $5,217,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in RES. Nicholas Hoffman & Company LLC. bought a new position in RPC during the fourth quarter valued at about $59,000. GAMMA Investing LLC increased its stake in shares of RPC by 437.4% during the fourth quarter. GAMMA Investing LLC now owns 10,087 shares of the oil and gas company's stock valued at $60,000 after buying an additional 8,210 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of RPC during the fourth quarter valued at approximately $64,000. Ieq Capital LLC purchased a new position in RPC in the fourth quarter worth about $65,000. Finally, Nisa Investment Advisors LLC lifted its position in RPC by 383.2% during the fourth quarter. Nisa Investment Advisors LLC now owns 11,312 shares of the oil and gas company's stock valued at $67,000 after purchasing an additional 8,971 shares in the last quarter. 41.06% of the stock is owned by institutional investors.

RPC Trading Up 3.3 %

Shares of NYSE RES traded up $0.16 during midday trading on Thursday, reaching $4.89. The company's stock had a trading volume of 274,463 shares, compared to its average volume of 1,703,429. RPC, Inc. has a one year low of $4.10 and a one year high of $7.54. The company has a 50 day moving average price of $5.17 and a 200 day moving average price of $5.83. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 11.43 and a beta of 1.27.

RPC (NYSE:RES - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.01). The company had revenue of $332.88 million for the quarter, compared to the consensus estimate of $326.72 million. RPC had a return on equity of 8.62% and a net margin of 6.46%. The firm's revenue was down 11.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.13 EPS. Research analysts anticipate that RPC, Inc. will post 0.31 earnings per share for the current fiscal year.

RPC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.16 dividend on an annualized basis and a yield of 3.28%. RPC's dividend payout ratio is currently 44.44%.

Analysts Set New Price Targets

RES has been the subject of a number of analyst reports. Susquehanna lowered their target price on RPC from $6.00 to $5.50 and set a "neutral" rating for the company in a report on Monday, April 14th. Citigroup upgraded RPC from a "sell" rating to a "neutral" rating and lowered their price target for the stock from $5.50 to $4.75 in a report on Tuesday, 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.