RGC Resources Inc. (NASDAQ:RGCO) COO C James Shockley, Jr. sold 1,469 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $28.00, for a total transaction of $41,132.00. Following the completion of the sale, the chief operating officer now directly owns 8,297 shares in the company, valued at $232,316. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
C James Shockley, Jr. also recently made the following trade(s):
- On Tuesday, March 12th, C James Shockley, Jr. sold 130 shares of RGC Resources stock. The stock was sold at an average price of $28.00, for a total transaction of $3,640.00.
RGCO traded down $0.39 during trading hours on Friday, hitting $27.55. 17,104 shares of the company’s stock were exchanged, compared to its average volume of 7,360. RGC Resources Inc. has a 12-month low of $23.00 and a 12-month high of $31.33. The company has a market cap of $223.84 million, a P/E ratio of 29.00 and a beta of -0.36. The company has a quick ratio of 0.78, a current ratio of 1.15 and a debt-to-equity ratio of 1.10.
RGC Resources (NASDAQ:RGCO) last announced its earnings results on Monday, February 4th. The energy company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.02). RGC Resources had a return on equity of 9.61% and a net margin of 11.28%. The business had revenue of $21.22 million for the quarter, compared to analysts’ expectations of $19.15 million. Research analysts forecast that RGC Resources Inc. will post 1.02 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Monday, April 15th will be given a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date is Friday, April 12th. RGC Resources’s dividend payout ratio is presently 32.63%.
Several large investors have recently made changes to their positions in RGCO. Bank of America Corp DE increased its position in shares of RGC Resources by 59.6% in the 2nd quarter. Bank of America Corp DE now owns 7,095 shares of the energy company’s stock valued at $207,000 after purchasing an additional 2,650 shares during the last quarter. Northern Trust Corp increased its position in shares of RGC Resources by 3.5% in the 2nd quarter. Northern Trust Corp now owns 81,927 shares of the energy company’s stock valued at $2,390,000 after purchasing an additional 2,762 shares during the last quarter. BlackRock Inc. increased its position in shares of RGC Resources by 0.7% in the 3rd quarter. BlackRock Inc. now owns 356,328 shares of the energy company’s stock valued at $9,517,000 after purchasing an additional 2,630 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of RGC Resources by 6.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 110,244 shares of the energy company’s stock valued at $2,944,000 after purchasing an additional 6,736 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of RGC Resources in the 3rd quarter valued at approximately $296,000.
Separately, Zacks Investment Research raised shares of RGC Resources from a “sell” rating to a “hold” rating in a research note on Thursday, February 21st.
About RGC Resources
RGC Resources, Inc, through its subsidiaries, operates as an energy services company. The company sells and distributes natural gas to residential, commercial, and industrial customers in Roanoke, Virginia, and the surrounding localities. It also provides various unregulated services. The company operates approximately 1,141 miles of transmission and distribution pipeline; and a liquefied natural gas storage facility, as well as owns and operates 8 metering stations.
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