Wealth Manager Fully Exits Position in Oilfield Services Company, According to Latest SEC Filing

Carolina Wealth Advisors, LLC fully exited its RPC (NYSE:RES) stake in the first quarter, selling 1,252,201 shares for an estimated $7.80 million based on average pricing, according to an April 7, 2026, SEC filing.

What happened

According to a filing with the Securities and Exchange Commission dated April 7, 2026, Carolina Wealth Advisors, LLC sold all 1,252,201 shares of RPC during the first quarter. The estimated value of the trade was approximately $7.80 million, calculated using the average quarterly closing price. The fund’s position in RPC decreased by $6.81 million in value from the previous quarter-end, reflecting both the sale and share price moves.

What else to know

The fund fully exited its RPC stake; it now represents 0% of 13F reportable assets under management.

Top holdings after the filing:

• NYSEMKT:SCHQ: $17.73 million (7.4% of AUM)
• NYSEMKT:BKLC: $14.05 million (5.9% of AUM)
• NYSEMKT:BKAG: $12.71 million (5.3% of AUM)
• NYSEMKT:SCHP: $12.41 million (5.2% of AUM)
• NYSEMKT:SPHY: $9.69 million (4.0% of AUM)

As of April 6, 2026, RPC shares were priced at $6.82, up 58.6% over the past year, outperforming the S&P 500 by 20.46 percentage points.

Company Overview

Company Snapshot

• Offers a comprehensive suite of oilfield services and equipment, including pressure pumping, fracturing, cementing, coiled tubing, wireline, and rental tools for drilling and well completion.
• Generates revenue primarily through service contracts and equipment rentals supporting the exploration, production, and maintenance of oil and gas wells.
• Serves oil and gas exploration and production companies operating in the United States and international markets.

RPC is a leading provider of oilfield services and equipment with a diversified portfolio focused on upstream energy operations. The company's scale and technical expertise enable it to support both onshore and offshore drilling and well completion activities. Its broad service offering and established presence in key energy markets provide a competitive advantage in serving major oil and gas producers.

What this transaction means for investors

Carolina Wealth Advisors, a South Carolina-based wealth manager, recently disclosed that it fully exited its RPC position, valued at $6.8 million as of Dec. 31, 2025. Here are some key takeaways for investors.

First, RPC stock has enjoyed a fantastic run of late. Over the last six months, shares have advanced by approximately 64%. However, this massive rally has pushed the stock’s valuation much higher.

RPC’s price-to-earnings (P/E) ratio now stands at nearly 47x. For context, the company’s three-year average PE ratio is about 15x — meaning those investing in RPC stock today are paying roughly three times as much for each $1 in earnings as the average investor has paid over the last three years. However, on a price-to-sales (P/S) basis, the stock looks more reasonably priced. Shares trade with a P/S ratio of 0.89x, which is very close to its three-year average of 0.87x.

In summary, RPC’s valuation metrics are at odds with one another. One could argue that the stock is expensive based on its P/E ratio, while one could also argue that its P/S ratio indicates that the stock is fairly priced.

In any event, given the stock’s massive rally over the last six months, it’s not surprising that a wealth manager would take profits. Indeed, this sale has all the hallmarks of sound portfolio management, rather than a bearish call on RPC stock.

Jake Lerch has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Schwab Strategic Trust - Schwab U.s. Tips ETF. The Motley Fool has a disclosure policy.