Hancock Whitney Corp Has $70,000 Stock Position in RPC, Inc. (NYSE:RES)

by · The Cerbat Gem

Hancock Whitney Corp reduced its stake in shares of RPC, Inc. (NYSE:RES – Free Report) by 68.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,747 shares of the oil and gas company’s stock after selling 25,604 shares during the quarter. Hancock Whitney Corp’s holdings in RPC were worth $70,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Barclays PLC grew its holdings in shares of RPC by 230.1% during the 3rd quarter. Barclays PLC now owns 182,943 shares of the oil and gas company’s stock worth $1,163,000 after purchasing an additional 127,525 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of RPC by 17.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 489,401 shares of the oil and gas company’s stock worth $3,113,000 after buying an additional 71,064 shares during the last quarter. HB Wealth Management LLC lifted its position in shares of RPC by 12.9% during the 4th quarter. HB Wealth Management LLC now owns 32,280 shares of the oil and gas company’s stock worth $192,000 after buying an additional 3,697 shares during the last quarter. Empowered Funds LLC lifted its position in shares of RPC by 5.1% during the 4th quarter. Empowered Funds LLC now owns 928,958 shares of the oil and gas company’s stock worth $5,518,000 after buying an additional 45,468 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of RPC by 12.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,761,776 shares of the oil and gas company’s stock worth $10,465,000 after buying an additional 195,414 shares during the last quarter. 41.06% of the stock is owned by institutional investors and hedge funds.

RPC Trading Up 1.6 %

RPC stock opened at $5.05 on Monday. The company has a market capitalization of $1.09 billion, a PE ratio of 11.74 and a beta of 1.27. RPC, Inc. has a 12 month low of $4.10 and a 12 month high of $7.54. The stock has a 50-day moving average price of $5.24 and a two-hundred day moving average price of $5.86.

RPC (NYSE:RES – Get Free Report) last posted its earnings results on Thursday, April 24th. The oil and gas company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). The firm had revenue of $332.88 million during the quarter, compared to the consensus estimate of $326.72 million. RPC had a net margin of 6.46% and a return on equity of 8.62%. As a group, analysts predict that RPC, Inc. will post 0.31 earnings per share for the current fiscal year.

RPC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Friday, May 9th will be given a $0.04 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.16 annualized dividend and a yield of 3.17%. RPC’s dividend payout ratio is presently 37.21%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on RES shares. Susquehanna dropped their price objective on RPC from $6.00 to $5.50 and set a “neutral” rating for the company in a research report on Monday, April 14th. Citigroup upgraded RPC from a “sell” rating to a “neutral” rating and dropped their price objective for the stock from $5.50 to $4.75 in a research report on Tuesday, April 8th.

Check Out Our Latest Analysis on RPC

RPC Company Profile

(Free Report)

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.

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