BNP Paribas Financial Markets Acquires 65,359 Shares of RPC, Inc. (NYSE:RES)

BNP Paribas Financial Markets lifted its holdings in RPC, Inc. (NYSE:RES) by 30.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 280,926 shares of the oil and gas company’s stock after buying an additional 65,359 shares during the quarter. BNP Paribas Financial Markets owned about 0.13% of RPC worth $1,669,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in RES. Nicholas Hoffman & Company LLC. bought a new position in shares of RPC in the fourth quarter valued at about $59,000. Raymond James Financial Inc. acquired a new stake in RPC in the fourth quarter worth about $64,000. Ieq Capital LLC acquired a new stake in RPC in the fourth quarter worth about $65,000. Nisa Investment Advisors LLC increased its position in RPC by 383.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 11,312 shares of the oil and gas company’s stock worth $67,000 after purchasing an additional 8,971 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in RPC in the fourth quarter worth about $68,000. 41.06% of the stock is owned by institutional investors.

RPC Trading Down 0.3%

Shares of RES opened at $4.83 on Friday. RPC, Inc. has a 1 year low of $4.10 and a 1 year high of $7.54. The stock has a market cap of $1.06 billion, a P/E ratio of 11.22 and a beta of 0.86. The stock’s 50-day moving average price is $5.03 and its two-hundred day moving average price is $5.71.

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

RPC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend is Friday, May 9th. RPC’s dividend payout ratio (DPR) is presently 44.44%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Susquehanna lowered 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 reduced their target price 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.