20,000 Shares in RPC, Inc. (NYSE:RES) Purchased by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division acquired a new position in shares of RPC, Inc. (NYSE:RES) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 20,000 shares of the oil and gas company’s stock, valued at approximately $156,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in RPC by 7.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,684,052 shares of the oil and gas company’s stock worth $63,221,000 after purchasing an additional 579,638 shares during the last quarter. Pacer Advisors Inc. grew its position in RPC by 274.1% in the 4th quarter. Pacer Advisors Inc. now owns 8,277,488 shares of the oil and gas company’s stock worth $60,260,000 after purchasing an additional 6,064,627 shares during the last quarter. Van ECK Associates Corp grew its position in RPC by 0.7% in the 1st quarter. Van ECK Associates Corp now owns 2,998,405 shares of the oil and gas company’s stock worth $23,207,000 after purchasing an additional 19,702 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in RPC by 12.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,401,619 shares of the oil and gas company’s stock worth $10,204,000 after purchasing an additional 153,518 shares during the last quarter. Finally, American Century Companies Inc. grew its position in RPC by 41.4% in the 3rd quarter. American Century Companies Inc. now owns 761,195 shares of the oil and gas company’s stock worth $6,805,000 after purchasing an additional 222,888 shares during the last quarter. Institutional investors and hedge funds own 41.06% of the company’s stock.

Analyst Upgrades and Downgrades

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

RPC Price Performance

Shares of RPC stock traded up $0.04 on Wednesday, hitting $5.76. The company had a trading volume of 64,697 shares, compared to its average volume of 1,588,463. The business has a 50-day simple moving average of $6.51 and a 200-day simple moving average of $7.06. The company has a market cap of $1.23 billion, a PE ratio of 8.17 and a beta of 1.59. RPC, Inc. has a 52 week low of $5.66 and a 52 week high of $9.41.

RPC (NYSE:RES) last released 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 net margin of 9.95% and a return on equity of 15.02%. The business had revenue of $377.80 million for the quarter, compared to analyst estimates of $393.33 million. During the same period in the prior year, the company earned $0.39 earnings per share. The firm’s revenue for the quarter was down 20.7% on a year-over-year basis. On average, equities research analysts predict that RPC, Inc. will post 0.71 earnings per share for the current fiscal year.

RPC Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Friday, May 10th were paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 2.78%. The ex-dividend date was 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.