RPC, Inc. (NYSE:RES) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC trimmed its stake in shares of RPC, Inc. (NYSE:RESGet Rating) by 4.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,382,000 shares of the oil and gas company’s stock after selling 114,000 shares during the period. Gabelli Funds LLC owned 1.10% of RPC worth $10,814,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Marshall Wace North America L.P. purchased a new stake in shares of RPC during the 1st quarter worth approximately $25,000. Royal Bank of Canada boosted its holdings in shares of RPC by 594.9% during the second quarter. Royal Bank of Canada now owns 5,754 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 4,926 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of RPC by 45.9% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 8,463 shares of the oil and gas company’s stock valued at $41,000 after purchasing an additional 2,663 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in RPC in the 3rd quarter worth approximately $51,000. Finally, HighTower Advisors LLC acquired a new stake in shares of RPC during the fourth quarter worth approximately $55,000. 27.15% of the stock is owned by institutional investors and hedge funds.

Shares of RES stock opened at $8.62 on Monday. RPC, Inc. has a one year low of $3.33 and a one year high of $12.91. The company has a market cap of $1.87 billion, a P/E ratio of 57.47 and a beta of 1.51. The firm has a 50-day moving average of $10.48 and a 200-day moving average of $7.65.

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

In related news, Director Gary W. Rollins sold 299,785 shares of the firm’s stock in a transaction on Thursday, March 24th. The stock was sold at an average price of $10.35, for a total value of $3,102,774.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Rollins Holding Company, Inc. sold 365,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $9.66, for a total value of $3,525,900.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,649,785 shares of company stock worth $16,397,775 in the last 90 days. Company insiders own 65.90% of the company’s stock.

Several research firms have recently weighed in on RES. Zacks Investment Research lowered shares of RPC from a “strong-buy” rating to a “hold” rating and set a $11.00 price objective for the company. in a research report on Tuesday, March 29th. StockNews.com initiated coverage on RPC in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Atb Cap Markets restated an “underperform” rating on shares of RPC in a research report on Sunday, April 17th. TheStreet raised shares of RPC from a “d+” rating to a “c” rating in a research note on Wednesday, January 26th. Finally, Johnson Rice upgraded shares of RPC from a “hold” rating to an “accumulate” rating and set a $13.00 target price for the company in a research report on Wednesday, April 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $11.33.

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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Institutional Ownership by Quarter for RPC (NYSE:RES)

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