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Insider Sales at RPC (RES) Extends the Selling Trend of Last Quarter

05/11/2021 18:36

10:20 PM EDT, 05/11/2021 (MT Newswires) -- There was substantial level of selling of RPC shares by insiders today, as revealed in form 4 documents filed with the SEC. Two insiders -- Gary W Rollins, 10% Owner, Director and Officer, and LOR Inc, 10% Owner -- sold 920,000 shares in the company having a market value of approximately $5,124,546. There have been 4 insiders with buy/sell transactions in the past 90 days prior to these filings. These trades have resulted in the purchase of 2,000 company shares and the disposition of 5,975,230 company shares over this time period. Adding the most recent activity to this 90-day history indicates insider trades have been net sales of 6,893,230 shares and have averaged 1,149,538 shares per transaction over this time period.

Today's Insider Activity

Over the last 90 days, the number of insider buy/sell trades at RPC is higher than the 65-company peer group average. Oil Related Services and Equipment peer group saw 52 buy/sell trades during this period for an average of 0.8 transactions per company. The number of shares per buy/sell trade for RPC insiders was also higher. Within the peer group there were 156,349 shares purchased and 11,699,601 shares sold with company insiders having sold 221,986 shares on average.

The data used in evaluating and writing in this story eliminates all trading activity reported to the SEC that involves awards, options, exercise of derivative securities, company buy-backs, taxes, gifts, shares acquired via inheritance and tenders or exchange offers.

This report does not constitute a recommendation to purchase or sell any security and the analysts are not registered investment advisors. Further analysis is recommended before undertaking any position in any security. Any risks are solely the responsibility of the buyer/seller. The authors, publishers and distributors of the MT Newswires Live Briefs service and any associates thereof accept no liability for the content or actions taken by anyone or institution utilizing this report.