BNP Paribas Arbitrage SA increased its stake in RPC Inc. (NYSE:RES) by 27.5% during the third quarter, Holdings Channel reports. The firm owned 6,118 shares of the company’s stock after buying an additional 1,319 shares during the period. BNP Paribas Arbitrage SA’s holdings in RPC were worth $103,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Ngam Advisors L.P. acquired a new position in shares of RPC during the first quarter worth about $1,086,000. Riverhead Capital Management LLC acquired a new position in shares of RPC during the first quarter worth about $643,000. Goldman Sachs Group Inc. increased its position in shares of RPC by 68.0% in the first quarter. Goldman Sachs Group Inc. now owns 156,272 shares of the company’s stock worth $2,216,000 after buying an additional 63,275 shares during the last quarter. Loomis Sayles & Co. L P increased its position in shares of RPC by 118.4% in the first quarter. Loomis Sayles & Co. L P now owns 1,106,000 shares of the company’s stock worth $15,683,000 after buying an additional 599,612 shares during the last quarter. Finally, Hancock Holding Co. increased its position in shares of RPC by 1.0% in the first quarter. Hancock Holding Co. now owns 592,680 shares of the company’s stock worth $8,404,000 after buying an additional 6,100 shares during the last quarter. 34.94% of the stock is currently owned by institutional investors and hedge funds.
RPC Inc. (NYSE:RES) opened at 18.44 on Monday. The company’s 50-day moving average price is $16.08 and its 200-day moving average price is $15.11. RPC Inc. has a 52 week low of $9.73 and a 52 week high of $18.88. The company’s market capitalization is $4.01 billion.
RPC (NYSE:RES) last issued its quarterly earnings results on Wednesday, July 27th. The company reported ($0.23) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.23). RPC had a negative return on equity of 16.53% and a negative net margin of 17.29%. The company earned $143 million during the quarter, compared to analysts’ expectations of $149.41 million. During the same quarter in the previous year, the firm posted ($0.16) EPS. The firm’s revenue was down 51.9% compared to the same quarter last year. Equities analysts forecast that RPC Inc. will post ($0.77) earnings per share for the current fiscal year.
A number of analysts recently commented on RES shares. GMP Securities upgraded RPC from a “reduce” rating to a “hold” rating in a research report on Thursday, July 28th. Seaport Global Securities upgraded RPC from a “reduce” rating to a “neutral” rating and upped their price objective for the company from $14.00 to $17.00 in a research report on Tuesday, October 4th. Citigroup Inc. upped their price objective on RPC from $16.00 to $19.00 and gave the company a “neutral” rating in a research report on Tuesday, October 11th. Finally, Nomura set a $14.00 price objective on RPC and gave the company a “hold” rating in a research report on Tuesday, August 16th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $14.87.
RPC, Inc (RPC) is a holding company for several oilfield services companies. The Company provides a range of specialized oilfield services and equipment to oil and gas companies engaged in the exploration, production and development of oil and gas properties across the United States, including the southwest, mid-continent, Gulf of Mexico, Rocky Mountain and Appalachian regions, and in selected international markets.