Aigen Investment Management LP Makes New $141,000 Investment in RPC, Inc. (NYSE:RES)

Aigen Investment Management LP acquired a new position in shares of RPC, Inc. (NYSE:RESGet Rating) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 13,250 shares of the oil and gas company’s stock, valued at approximately $141,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new position in shares of RPC in the 4th quarter valued at about $66,000. Yousif Capital Management LLC acquired a new position in shares of RPC in the 4th quarter valued at about $294,000. D.A. Davidson & CO. acquired a new position in shares of RPC in the 4th quarter valued at about $308,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of RPC by 501.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,652 shares of the oil and gas company’s stock valued at $121,000 after purchasing an additional 22,219 shares during the period. Finally, Oregon Public Employees Retirement Fund increased its holdings in shares of RPC by 16.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 27,465 shares of the oil and gas company’s stock valued at $125,000 after purchasing an additional 3,830 shares during the period. Institutional investors and hedge funds own 27.15% of the company’s stock.

Insiders Place Their Bets

In other RPC news, Director Gary W. Rollins sold 220,977 shares of the company’s stock in a transaction that occurred on Friday, May 20th. The stock was sold at an average price of $8.65, for a total transaction of $1,911,451.05. Following the completion of the sale, the director now owns 8,134,023 shares of the company’s stock, valued at $70,359,298.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other RPC news, Director Gary W. Rollins sold 220,977 shares of the company’s stock in a transaction that occurred on Friday, May 20th. The stock was sold at an average price of $8.65, for a total transaction of $1,911,451.05. Following the completion of the sale, the director now owns 8,134,023 shares of the company’s stock, valued at $70,359,298.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary W. Rollins sold 170,781 shares of the company’s stock in a transaction that occurred on Wednesday, June 22nd. The stock was sold at an average price of $7.05, for a total value of $1,204,006.05. Following the sale, the director now directly owns 3,160,819 shares of the company’s stock, valued at approximately $22,283,773.95. The disclosure for this sale can be found here. Insiders sold 5,069,494 shares of company stock valued at $45,895,222 over the last 90 days. 65.90% of the stock is currently owned by company insiders.

RPC Stock Performance

Shares of NYSE RES opened at $7.28 on Friday. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 19.68 and a beta of 1.63. The business has a 50 day simple moving average of $7.43 and a 200 day simple moving average of $8.67. RPC, Inc. has a 52 week low of $3.33 and a 52 week high of $12.91.

RPC (NYSE:RESGet Rating) last announced its quarterly earnings results on Wednesday, July 27th. The oil and gas company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.10 by $0.12. The business had revenue of $375.51 million during the quarter, compared to analysts’ expectations of $327.34 million. RPC had a return on equity of 12.08% and a net margin of 6.90%. The company’s revenue was up 98.9% on a year-over-year basis. On average, analysts predict that RPC, Inc. will post 0.63 EPS for the current year.

RPC Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 9th. Shareholders of record on Wednesday, August 10th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Tuesday, August 9th. This represents a $0.08 dividend on an annualized basis and a yield of 1.10%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on RES shares. StockNews.com upgraded RPC from a “hold” rating to a “buy” rating in a report on Thursday, July 28th. Johnson Rice upgraded RPC from a “hold” rating to an “accumulate” rating and set a $13.00 target price on the stock in a report on Wednesday, April 27th. Citigroup boosted their price target on RPC to $10.00 and gave the company a “na” rating in a research note on Tuesday, May 17th. Finally, Atb Cap Markets reissued an “underperform” rating on shares of RPC in a research note on Sunday, April 17th. One research analyst has rated the stock with a sell rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $11.50.

RPC Company Profile

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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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