Texas Permanent School Fund Increases Position in RPC, Inc. (NYSE:RES)

Texas Permanent School Fund lifted its position in RPC, Inc. (NYSE:RESGet Rating) by 17.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 59,847 shares of the oil and gas company’s stock after purchasing an additional 8,961 shares during the period. Texas Permanent School Fund’s holdings in RPC were worth $415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. purchased a new stake in shares of RPC in the second quarter worth $36,000. KBC Group NV bought a new position in shares of RPC during the second quarter worth $44,000. Point72 Hong Kong Ltd bought a new position in shares of RPC during the second quarter worth $51,000. Captrust Financial Advisors boosted its position 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 worth $96,000 after acquiring an additional 1,545 shares during the last quarter. Finally, Ellevest Inc. boosted its position in shares of RPC by 45.4% during the second quarter. Ellevest Inc. now owns 9,440 shares of the oil and gas company’s stock worth $65,000 after acquiring an additional 2,946 shares during the last quarter. 27.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of RPC from a “buy” rating to a “hold” rating in a research report on Tuesday, January 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $11.50.

RPC Stock Performance

Shares of NYSE:RES opened at $9.78 on Monday. The firm has a fifty day moving average price of $9.13 and a 200 day moving average price of $8.21. RPC, Inc. has a fifty-two week low of $5.16 and a fifty-two week high of $12.91. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of 14.60 and a beta of 1.69.

RPC (NYSE:RESGet Rating) last released its quarterly earnings data on Wednesday, October 26th. The oil and gas company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.25 by $0.07. RPC had a net margin of 10.35% and a return on equity of 20.68%. The business had revenue of $459.60 million during the quarter, compared to analyst estimates of $415.20 million. As a group, research analysts predict that RPC, Inc. will post 0.91 earnings per share for the current year.

RPC Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 9th. Shareholders of record on Thursday, November 10th were given a dividend of $0.02 per share. The ex-dividend date of this dividend was Wednesday, November 9th. This represents a $0.08 annualized dividend and a yield of 0.82%. RPC’s dividend payout ratio (DPR) is currently 11.94%.

Insider Buying and Selling at RPC

In other RPC news, major shareholder Lor Inc sold 316,632 shares of the stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $10.65, for a total transaction of $3,372,130.80. Following the completion of the transaction, the insider now owns 572,610 shares in the company, valued at $6,098,296.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Lor Inc sold 316,632 shares of the firm’s stock in a transaction dated Wednesday, November 2nd. The shares were sold at an average price of $10.65, for a total value of $3,372,130.80. Following the completion of the sale, the insider now owns 572,610 shares in the company, valued at approximately $6,098,296.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Pam R. Rollins sold 120,000 shares of the firm’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $10.42, for a total transaction of $1,250,400.00. Following the completion of the sale, the director now owns 194,951 shares of the company’s stock, valued at approximately $2,031,389.42. The disclosure for this sale can be found here. Insiders sold 1,064,193 shares of company stock worth $11,197,202 over the last 90 days. 65.90% of the stock is owned by insiders.

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.

See Also

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Institutional Ownership by Quarter for RPC (NYSE:RES)

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