RPC, Inc. (NYSE:RES) CEO Gary W. Rollins sold 150,000 shares of the firm's stock in a transaction on Thursday, March 18th. The shares were sold at an average price of $5.44, for a total value of $816,000.00. Following the completion of the sale, the chief executive officer now directly owns 5,199,461 shares of the company's stock, valued at approximately $28,285,067.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of NYSE:RES traded down $0.16 during midday trading on Monday, hitting $5.10. 956,755 shares of the stock were exchanged, compared to its average volume of 1,166,071. The company has a 50 day moving average price of $5.62 and a 200-day moving average price of $3.76. RPC, Inc. has a twelve month low of $1.86 and a twelve month high of $7.43. The stock has a market cap of $1.10 billion, a P/E ratio of -4.77 and a beta of 2.13. The company has a current ratio of 4.61, a quick ratio of 3.71 and a debt-to-equity ratio of 0.02.
RPC (NYSE:RES) last announced its earnings results on Wednesday, January 27th. The oil and gas company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.05. RPC had a negative net margin of 32.86% and a negative return on equity of 9.35%. The firm had revenue of $148.60 million during the quarter, compared to the consensus estimate of $125.46 million. During the same quarter in the previous year, the company posted ($0.07) EPS. The firm's revenue for the quarter was down 37.0% on a year-over-year basis. On average, equities research analysts expect that RPC, Inc. will post -0.33 earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in the stock. Marshall Wace North America L.P. acquired a new position in RPC in the 1st quarter valued at about $25,000. BCJ Capital Management LLC grew its holdings in RPC by 21.9% in the 4th quarter. BCJ Capital Management LLC now owns 18,680 shares of the oil and gas company's stock valued at $59,000 after buying an additional 3,352 shares during the period. Victory Capital Management Inc. grew its holdings in RPC by 29.4% in the 4th quarter. Victory Capital Management Inc. now owns 15,492 shares of the oil and gas company's stock valued at $49,000 after buying an additional 3,523 shares during the period. Federated Hermes Inc. grew its holdings in RPC by 12.3% in the 4th quarter. Federated Hermes Inc. now owns 41,715 shares of the oil and gas company's stock valued at $131,000 after buying an additional 4,579 shares during the period. Finally, Comerica Bank grew its holdings in RPC by 10.0% in the 3rd quarter. Comerica Bank now owns 59,707 shares of the oil and gas company's stock valued at $165,000 after buying an additional 5,426 shares during the period. 25.72% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have commented on RES. Smith Barney Citigroup raised their target price on RPC from $2.20 to $3.00 in a report on Tuesday, December 15th. Piper Sandler lifted their price target on RPC from $3.10 to $3.25 and gave the stock a "neutral" rating in a research note on Thursday, December 24th. They noted that the move was a valuation call. Citigroup lifted their price target on RPC from $3.00 to $3.50 in a research note on Wednesday, February 17th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price target on RPC from $2.20 to $3.00 in a research note on Tuesday, December 15th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The stock has an average rating of "Hold" and an average price target of $3.18.
RPC Company Profile
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 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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