RPC, Inc. (NYSE:RES) Director Sells $1,204,006.05 in Stock

RPC, Inc. (NYSE:RESGet Rating) Director Gary W. Rollins sold 170,781 shares of the firm’s stock in a transaction that occurred on Wednesday, June 22nd. The stock was sold at an average price of $7.05, for a total transaction of $1,204,006.05. Following the sale, the director now directly owns 3,160,819 shares of the company’s stock, valued at approximately $22,283,773.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

RES traded down $0.44 during trading hours on Thursday, hitting $6.47. 2,201,537 shares of the stock were exchanged, compared to its average volume of 1,601,075. The stock has a 50-day simple moving average of $9.43 and a 200-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 stock has a market cap of $1.40 billion, a price-to-earnings ratio of 43.14 and a beta of 1.52.

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

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

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

RPC Company Profile (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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