BNP Paribas Financial Markets Has $1.67 Million Stock Position in RPC, Inc. (NYSE:RES)

BNP Paribas Financial Markets grew its stake in shares of RPC, Inc. (NYSE:RES) by 30.3% during the 4th quarter, Holdings Channel reports. The firm owned 280,926 shares of the oil and gas company’s stock after buying an additional 65,359 shares during the period. BNP Paribas Financial Markets’ holdings in RPC were worth $1,669,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Nicholas Hoffman & Company LLC. acquired a new position in shares of RPC during the 4th quarter worth approximately $59,000. Raymond James Financial Inc. acquired a new position in shares of RPC during the 4th quarter worth approximately $64,000. Ieq Capital LLC acquired a new position in shares of RPC during the 4th quarter worth approximately $65,000. Nisa Investment Advisors LLC increased its holdings in shares of RPC by 383.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 11,312 shares of the oil and gas company’s stock worth $67,000 after acquiring an additional 8,971 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in shares of RPC during the 4th quarter worth approximately $68,000. Institutional investors and hedge funds own 41.06% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on RES. Citigroup raised RPC from a “sell” rating to a “neutral” rating and decreased their target price for the stock from $5.50 to $4.75 in a report on Tuesday, April 8th. Susquehanna decreased their price objective on RPC from $6.00 to $5.50 and set a “neutral” rating on the stock in a report on Monday, April 14th.

RPC Price Performance

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

RPC (NYSE:RES) last issued its quarterly earnings data on Thursday, April 24th. The oil and gas company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The firm had revenue of $332.88 million during the quarter, compared to analyst estimates of $326.72 million. RPC had a net margin of 6.46% and a return on equity of 8.62%. The business’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.13 earnings per share. On average, equities analysts anticipate that RPC, Inc. will post 0.31 earnings per share for the current fiscal year.

RPC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Stockholders of record on Friday, May 9th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 3.32%. RPC’s payout ratio is 44.44%.

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.