Louisiana State Employees Retirement System Acquires New Holdings in RPC, Inc. (NYSE:RES)

Louisiana State Employees Retirement System purchased a new stake in shares of RPC, Inc. (NYSE:RESGet Rating) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 39,800 shares of the oil and gas company’s stock, valued at approximately $276,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in RPC by 2.6% during the first quarter. BlackRock Inc. now owns 11,572,911 shares of the oil and gas company’s stock worth $123,482,000 after buying an additional 294,681 shares in the last quarter. Vanguard Group Inc. increased its position in RPC by 3.1% in the first quarter. Vanguard Group Inc. now owns 8,399,125 shares of the oil and gas company’s stock worth $89,619,000 after purchasing an additional 255,284 shares during the period. Dimensional Fund Advisors LP increased its position in RPC by 10.0% in the first quarter. Dimensional Fund Advisors LP now owns 4,933,835 shares of the oil and gas company’s stock worth $52,645,000 after purchasing an additional 449,010 shares during the period. State Street Corp grew its position in shares of RPC by 21.4% during the 2nd quarter. State Street Corp now owns 4,014,594 shares of the oil and gas company’s stock worth $27,741,000 after buying an additional 708,058 shares during the period. Finally, Millennium Management LLC grew its position in shares of RPC by 219.4% in the 2nd quarter. Millennium Management LLC now owns 3,203,185 shares of the oil and gas company’s stock valued at $22,134,000 after purchasing an additional 2,200,276 shares during the period. Institutional investors and hedge funds own 27.15% of the company’s stock.

RPC Stock Performance

NYSE RES opened at $9.99 on Friday. RPC, Inc. has a 52-week low of $5.16 and a 52-week high of $12.91. The company has a 50-day simple moving average of $9.14 and a 200 day simple moving average of $8.17. The company has a market capitalization of $2.16 billion, a PE ratio of 14.91 and a beta of 1.69.

RPC (NYSE:RESGet Rating) last posted its earnings results on Wednesday, October 26th. The oil and gas company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.07. The firm had revenue of $459.60 million for the quarter, compared to the consensus estimate of $415.20 million. RPC had a return on equity of 20.68% and a net margin of 10.35%. As a group, analysts forecast that RPC, Inc. will post 0.91 EPS for the current fiscal year.

RPC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 9th. Stockholders of record on Thursday, November 10th were issued a $0.02 dividend. The ex-dividend date was Wednesday, November 9th. This represents a $0.08 annualized dividend and a dividend yield of 0.80%. RPC’s dividend payout ratio is currently 11.94%.

Insider Transactions at RPC

In other RPC news, major shareholder Lor Inc sold 316,632 shares of RPC stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $10.65, for a total transaction of $3,372,130.80. Following the sale, the insider now directly owns 572,610 shares of the company’s stock, valued at approximately $6,098,296.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder Lor Inc sold 316,632 shares of the stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $10.65, for a total value of $3,372,130.80. Following the sale, the insider now directly owns 572,610 shares of the company’s stock, valued at $6,098,296.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Gary W. Rollins sold 436,013 shares of the stock in a transaction on Thursday, November 3rd. The stock was sold at an average price of $10.42, for a total value of $4,543,255.46. Following the completion of the sale, the director now directly owns 136,597 shares in the company, valued at $1,423,340.74. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,064,193 shares of company stock worth $11,197,202. Company insiders own 65.90% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered RPC from a “buy” rating to a “hold” rating in a report on Tuesday. One equities research 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. According to data from MarketBeat.com, the company presently 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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Institutional Ownership by Quarter for RPC (NYSE:RES)

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