RPC, Inc. (NYSE:RES) Shares Sold by Baird Financial Group Inc.

Baird Financial Group Inc. lowered its stake in RPC, Inc. (NYSE:RES) by 3.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 360,467 shares of the oil and gas company’s stock after selling 12,127 shares during the quarter. Baird Financial Group Inc. owned about 0.17% of RPC worth $2,141,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. BNP Paribas Financial Markets lifted its position in RPC by 30.3% in the fourth quarter. BNP Paribas Financial Markets now owns 280,926 shares of the oil and gas company’s stock valued at $1,669,000 after buying an additional 65,359 shares during the last quarter. Ameriprise Financial Inc. lifted its position in RPC by 3.6% in the fourth quarter. Ameriprise Financial Inc. now owns 650,616 shares of the oil and gas company’s stock valued at $3,865,000 after buying an additional 22,348 shares during the last quarter. Jane Street Group LLC lifted its position in RPC by 1,009.5% in the fourth quarter. Jane Street Group LLC now owns 82,124 shares of the oil and gas company’s stock valued at $488,000 after buying an additional 74,722 shares during the last quarter. Comerica Bank lifted its position in RPC by 3.6% in the fourth quarter. Comerica Bank now owns 86,007 shares of the oil and gas company’s stock valued at $511,000 after buying an additional 2,979 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its position in RPC by 139.4% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 259,800 shares of the oil and gas company’s stock valued at $1,543,000 after buying an additional 151,300 shares during the last quarter. Institutional investors and hedge funds own 41.06% of the company’s stock.

RPC Stock Performance

Shares of RES opened at $4.77 on Monday. The stock has a market capitalization of $1.05 billion, a PE ratio of 11.09 and a beta of 0.86. RPC, Inc. has a 1 year low of $4.10 and a 1 year high of $7.54. The company’s 50-day simple moving average is $5.07 and its 200-day simple moving average is $5.74.

RPC (NYSE:RES) last released its earnings results on Thursday, April 24th. The oil and gas company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). RPC had a return on equity of 8.62% and a net margin of 6.46%. The firm had revenue of $332.88 million for the quarter, compared to analysts’ expectations of $326.72 million. During the same quarter in the previous year, the company posted $0.13 earnings per share. The firm’s quarterly revenue was down 11.9% on a year-over-year basis. On average, sell-side analysts predict that RPC, Inc. will post 0.31 earnings per share for the current year.

RPC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Investors of record on Friday, May 9th will be paid a dividend of $0.04 per share. The ex-dividend date is Friday, May 9th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 3.35%. RPC’s payout ratio is 44.44%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Citigroup raised shares of RPC from a “sell” rating to a “neutral” rating and decreased their target price for the company from $5.50 to $4.75 in a research report on Tuesday, April 8th. Susquehanna reduced their price target on shares of RPC from $6.00 to $5.50 and set a “neutral” rating on the stock in a research report on Monday, April 14th.

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.