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

RPC, Inc. (NYSE:RES – Get Rating) major shareholder Lor Inc sold 474,442 shares of the stock in a transaction that occurred on Tuesday, June 21st. The shares were sold at an average price of $7.51, for a total transaction of $3,563,059.42. Following the transaction, the insider now owns 3,331,600 shares in the company, valued at $25,020,316. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases 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 shares were sold at an average price of $9.40, for a total transaction of $4,537,051.00.
• On Thursday, June 2nd, Lor Inc sold 478,226 shares of RPC stock. The shares were sold at an average price of $9.32, for a total transaction of $4,457,066.32.
• On Tuesday, May 31st, Lor Inc sold 750,000 shares of RPC stock. The stock was sold at an average price of $9.56, for a total transaction of $7,170,000.00.
• On Thursday, May 26th, Lor Inc sold 201,606 shares of RPC stock. The stock was sold at an average price of $9.29, for a total transaction of $1,872,919.74.
• On Tuesday, May 24th, Lor Inc sold 311,864 shares of RPC stock. The stock was sold at an average price of $8.85, for a total transaction of $2,759,996.40.

RES stock traded down $0.44 on Thursday, reaching $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 business has a fifty day simple moving average of $9.43 and a two-hundred day simple moving average of $8.27. RPC, Inc. has a 12-month low of $3.33 and a 12-month high of $12.91. The firm has a market cap of $1.40 billion, a PE ratio of 43.14 and a beta of 1.52.

RPC (NYSE:RES – Get Rating) last announced its quarterly earnings results on Wednesday, April 27th. The oil and gas company reported $0.07 EPS for the quarter, hitting analysts’ consensus estimates of $0.07. The company had revenue of $284.60 million during the quarter, compared to analyst estimates of $286.68 million. RPC had a return on equity of 5.00% and a net margin of 3.31%. The firm’s revenue was up 55.9% on a year-over-year basis. During the same quarter last year, the firm posted ($0.05) earnings per share. On average, equities analysts expect that RPC, Inc. will post 0.44 EPS for the current year.

A number of institutional investors have recently made changes to their positions in RES. Lindbrook Capital LLC increased its holdings in shares of RPC by 48.5% during the first quarter. Lindbrook Capital LLC now owns 2,788 shares of the oil and gas company’s stock valued at $30,000 after acquiring an additional 911 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of RPC by 170.6% during the first quarter. Nisa Investment Advisors LLC now owns 4,600 shares of the oil and gas company’s stock valued at $49,000 after acquiring an additional 2,900 shares in the last quarter. Ellevest Inc. increased its holdings in shares of RPC by 107.2% during the first quarter. Ellevest Inc. now owns 6,494 shares of the oil and gas company’s stock valued at $69,000 after acquiring an additional 3,360 shares in the last quarter. Ahrens Investment Partners LLC increased its holdings in shares of RPC by 208.3% during the first quarter. Ahrens Investment Partners LLC now owns 7,092 shares of the oil and gas company’s stock valued at $76,000 after acquiring an additional 4,792 shares in the last quarter. Finally, Captrust Financial Advisors increased its holdings in shares of RPC by 20.6% during the first quarter. Captrust Financial Advisors now owns 9,037 shares of the oil and gas company’s stock valued at $96,000 after acquiring an additional 1,545 shares in the last quarter. 27.15% of the stock is owned by institutional investors and hedge funds.

RES has been the topic of several recent analyst reports. Citigroup raised their target price on shares of RPC to $10.00 and gave the stock a “na” rating in a report on Tuesday, May 17th. StockNews.com initiated coverage on shares of RPC in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Johnson Rice upgraded shares of RPC from a “hold” rating to an “accumulate” rating and set a $13.00 target price on the stock in a report on Wednesday, April 27th. Finally, Atb Cap Markets reaffirmed an “underperform” rating on shares of RPC in a research note on Sunday, April 17th. One analyst has rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price 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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