KBC Group NV Decreases Stake in RPC, Inc. (RES)
KBC Group NV reduced its holdings in RPC, Inc. (NYSE:RES) by 80.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,011 shares of the oil and gas company’s stock after selling 51,033 shares during the period. KBC Group NV’s holdings in RPC were worth $243,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of RES. MARSHALL WACE ASIA Ltd purchased a new position in shares of RPC in the first quarter worth about $28,788,000. Marshall Wace North America L.P. purchased a new position in shares of RPC in the first quarter worth about $28,788,000. Alliancebernstein L.P. lifted its stake in shares of RPC by 21.6% in the first quarter. Alliancebernstein L.P. now owns 5,707,098 shares of the oil and gas company’s stock worth $104,497,000 after buying an additional 1,012,027 shares in the last quarter. Investec Asset Management LTD purchased a new position in shares of RPC in the first quarter worth about $14,459,000. Finally, Mitchell Group Inc. purchased a new position in shares of RPC in the first quarter worth about $13,325,000. 38.18% of the stock is currently owned by hedge funds and other institutional investors.
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Several equities research analysts recently issued reports on the stock. Jefferies Group LLC set a $26.00 price objective on shares of RPC and gave the stock a “buy” rating in a research report on Saturday, June 17th. Cowen and Company restated a “hold” rating and set a $24.00 price objective on shares of RPC in a research report on Friday, September 1st. Barclays PLC assumed coverage on shares of RPC in a research report on Tuesday, September 5th. They set an “equal weight” rating and a $19.00 price objective for the company. Piper Jaffray Companies restated a “neutral” rating and set a $20.50 price objective (up from $18.75) on shares of RPC in a research report on Wednesday, July 12th. Finally, Seaport Global Securities restated a “neutral” rating on shares of RPC in a research report on Wednesday, July 26th. Eleven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. RPC currently has an average rating of “Hold” and a consensus target price of $22.69.
Shares of RPC, Inc. (RES) opened at 20.34 on Monday. The firm’s market capitalization is $4.42 billion. The firm’s 50 day moving average is $19.90 and its 200-day moving average is $19.33. RPC, Inc. has a 12 month low of $14.18 and a 12 month high of $23.36.
RPC (NYSE:RES) last announced its quarterly earnings data on Wednesday, July 26th. The oil and gas company reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.06. The business had revenue of $399 million for the quarter, compared to analyst estimates of $415.65 million. RPC had a negative net margin of 1.15% and a negative return on equity of 1.74%. The company’s revenue was up 179.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.23) EPS. On average, analysts expect that RPC, Inc. will post $0.81 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Thursday, August 10th will be issued a dividend of $0.06 per share. This is a positive change from RPC’s previous quarterly dividend of $0.05. This represents a $0.24 annualized dividend and a dividend yield of 1.18%. The ex-dividend date of this dividend is Tuesday, August 8th. RPC’s dividend payout ratio is presently -183.30%.
RPC Company Profile
RPC, Inc (RPC) is a holding company for several oilfield services companies. The Company provides a range of specialized oilfield services and equipment primarily to independent oil and gas companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the southwest, mid-continent, Gulf of Mexico, Rocky Mountain and Appalachian regions, and in selected international markets.
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