WINTON GROUP Ltd Lowers Stock Holdings in RPC, Inc. (NYSE:RES)

WINTON GROUP Ltd trimmed its stake in RPC, Inc. (NYSE:RESGet Rating) by 17.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,896 shares of the oil and gas company’s stock after selling 8,660 shares during the period. WINTON GROUP Ltd’s holdings in RPC were worth $290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. purchased a new stake in RPC in the 2nd quarter valued at about $36,000. KBC Group NV purchased a new stake in RPC in the 2nd quarter valued at about $44,000. Nisa Investment Advisors LLC boosted its position in RPC by 170.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 4,600 shares of the oil and gas company’s stock valued at $49,000 after buying an additional 2,900 shares during the period. Ellevest Inc. raised its holdings in shares of RPC by 45.4% in the 2nd quarter. Ellevest Inc. now owns 9,440 shares of the oil and gas company’s stock valued at $65,000 after purchasing an additional 2,946 shares in the last quarter. Finally, Callahan Advisors LLC bought a new stake in shares of RPC in the 2nd quarter valued at about $69,000. 27.15% of the stock is owned by hedge funds and other institutional investors.

RPC Stock Performance

NYSE:RES opened at $9.65 on Monday. RPC, Inc. has a one year low of $3.82 and a one year high of $12.91. The firm has a market cap of $2.09 billion, a P/E ratio of 14.40 and a beta of 1.79. The firm has a 50-day simple moving average of $8.63 and a 200-day simple moving average of $8.12.

RPC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 9th. Investors of record on Thursday, November 10th will be paid a dividend of $0.02 per share. The ex-dividend date is Wednesday, November 9th. This represents a $0.08 annualized dividend and a dividend yield of 0.83%. RPC’s dividend payout ratio (DPR) is presently 11.94%.

Insider Buying and Selling

In related news, major shareholder Lor Inc sold 316,632 shares of the business’s stock in a transaction that occurred 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 approximately $6,098,296.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Gary W. Rollins sold 436,013 shares of the business’s stock in a transaction that occurred on Thursday, November 3rd. The shares were sold at an average price of $10.42, for a total transaction of $4,543,255.46. Following the completion of the transaction, the director now owns 136,597 shares in the company, valued at approximately $1,423,340.74. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Lor Inc sold 316,632 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 572,610 shares in the company, valued at approximately $6,098,296.50. The disclosure for this sale can be found here. Insiders sold a total of 1,064,193 shares of company stock worth $11,197,202 in the last 90 days. 65.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of RPC in a report on Wednesday, October 12th. They issued a “buy” rating for the company. One analyst has rated the stock with a sell rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $11.50.

RPC 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.

Further Reading

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Institutional Ownership by Quarter for RPC (NYSE:RES)

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