RPC (NYSE:RES) Upgraded at Citigroup

RPC (NYSE:RES) was upgraded by investment analysts at Citigroup from a “sell” rating to a “neutral” rating in a report issued on Monday, Analyst Price Targets reports.

Shares of NYSE:RES opened at $4.18 on Monday. The company has a market cap of $901.73 million, a price-to-earnings ratio of -23.22 and a beta of 2.13. The company has a 50-day moving average price of $4.09 and a 200-day moving average price of $5.00. RPC has a 12 month low of $2.23 and a 12 month high of $7.43.

In related news, Director Gary W. Rollins sold 150,000 shares of the business’s stock in a transaction dated Thursday, June 17th. The shares were sold at an average price of $5.66, for a total transaction of $849,000.00. Following the transaction, the director now owns 5,199,461 shares in the company, valued at $29,428,949.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Lor Inc sold 300,000 shares of the company’s stock in a transaction dated Friday, June 18th. The stock was sold at an average price of $5.60, for a total transaction of $1,680,000.00. Over the last ninety days, insiders have sold 1,042,525 shares of company stock valued at $5,600,698. Insiders own 69.00% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in RES. Marshall Wace North America L.P. purchased a new stake in RPC in the first quarter worth about $25,000. Dimensional Fund Advisors LP grew its holdings in shares of RPC by 0.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,246,075 shares of the oil and gas company’s stock valued at $13,376,000 after buying an additional 23,078 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of RPC by 14,040.1% during the first quarter. Victory Capital Management Inc. now owns 2,190,583 shares of the oil and gas company’s stock valued at $11,829,000 after buying an additional 2,175,091 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of RPC during the first quarter valued at approximately $400,000. Finally, Scotia Capital Inc. purchased a new stake in shares of RPC during the first quarter valued at approximately $83,000. Institutional investors and hedge funds own 26.79% of the company’s stock.

About RPC

RPC, Inc engages in the exploration, production and development of oil and gas properties. It operates through the following segments: Technical Services and Support Services. The Technical Services segment provides oil and gas, fracturing, acidizing, coiled tubing, snubbing, nitrogen, well control, wireline and fishing services.

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