RPC, Inc. (NYSE:RES) Major Shareholder Lor Inc Sells 474,442 Shares

RPC, Inc. (NYSE:RESGet Rating) major shareholder Lor Inc sold 474,442 shares of the company’s stock in a transaction that occurred on Tuesday, June 21st. The stock was sold at an average price of $7.51, for a total value of $3,563,059.42. Following the sale, the insider now directly owns 3,331,600 shares in the company, valued at $25,020,316. The sale was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Lor Inc also recently made the following trade(s):

  • On Monday, June 6th, Lor Inc sold 482,665 shares of RPC stock. The stock was sold at an average price of $9.40, for a total value of $4,537,051.00.
  • On Thursday, June 2nd, Lor Inc sold 478,226 shares of RPC stock. The stock was sold at an average price of $9.32, for a total value of $4,457,066.32.
  • On Tuesday, May 31st, Lor Inc sold 750,000 shares of RPC stock. The shares were sold at an average price of $9.56, for a total value of $7,170,000.00.
  • On Thursday, May 26th, Lor Inc sold 201,606 shares of RPC stock. The shares were sold at an average price of $9.29, for a total value of $1,872,919.74.
  • On Tuesday, May 24th, Lor Inc sold 311,864 shares of RPC stock. The shares were sold at an average price of $8.85, for a total value of $2,759,996.40.

RPC stock traded down $0.44 during mid-day trading on Thursday, hitting $6.47. The company’s stock had a trading volume of 2,201,537 shares, compared to its average volume of 1,601,075. The company has a 50 day moving average of $9.43 and a 200-day moving average of $8.27. The stock has a market cap of $1.40 billion, a PE ratio of 43.14 and a beta of 1.52. RPC, Inc. has a one year low of $3.33 and a one year high of $12.91.

RPC (NYSE:RESGet Rating) last announced its quarterly earnings data on Wednesday, April 27th. The oil and gas company reported $0.07 EPS for the quarter, meeting the consensus estimate of $0.07. The company had revenue of $284.60 million for the quarter, compared to the consensus estimate of $286.68 million. RPC had a return on equity of 5.00% and a net margin of 3.31%. RPC’s quarterly revenue was up 55.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.05) EPS. Analysts expect that RPC, Inc. will post 0.44 earnings per share for the current fiscal year.

Several hedge funds have recently modified their holdings of RES. Van ECK Associates Corp lifted its holdings in shares of RPC by 10.3% in the 1st quarter. Van ECK Associates Corp now owns 9,633,501 shares of the oil and gas company’s stock worth $102,789,000 after buying an additional 895,959 shares during the period. State Street Corp lifted its holdings in shares of RPC by 29.1% in the 1st quarter. State Street Corp now owns 3,306,536 shares of the oil and gas company’s stock worth $35,281,000 after buying an additional 744,744 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of RPC by 10.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,933,835 shares of the oil and gas company’s stock worth $52,645,000 after buying an additional 449,010 shares during the period. Invesco Ltd. lifted its holdings in shares of RPC by 72.9% in the 1st quarter. Invesco Ltd. now owns 867,358 shares of the oil and gas company’s stock worth $9,255,000 after buying an additional 365,568 shares during the period. Finally, EAM Investors LLC purchased a new stake in shares of RPC in the 1st quarter worth $3,487,000. Institutional investors and hedge funds own 27.15% of the company’s stock.

Several equities analysts have recently weighed in on the company. Johnson Rice raised RPC from a “hold” rating to an “accumulate” rating and set a $13.00 target price on the stock in a research report on Wednesday, April 27th. StockNews.com assumed coverage on RPC in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Citigroup boosted their target price on RPC to $10.00 and gave the company a “na” rating in a research report on Tuesday, May 17th. Finally, Atb Cap Markets reaffirmed an “underperform” rating on shares of RPC in a research report on Sunday, April 17th. One analyst has rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, RPC has an average rating of “Hold” and a consensus price target of $11.50.

About RPC (Get Rating)

RPC, Inc, through its subsidiaries, provides 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.

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Insider Buying and Selling by Quarter for RPC (NYSE:RES)

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