Prepare Yourself for Liftoff: RPC Inc. (RES)

With 1.93 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.27 million shares. During the session, the Oil & Gas Equipment & Services company that operates in wider Energy sector, reached to the highest price of $8.81 whereas the lowest price it dropped to was $8.39. The 52-week range on RES shows that it touched its highest point at $12.91 and its lowest point at $5.16 during that stretch. It currently has a 1-year price target of $11.00. With its current market cap of 1.86 billion, RES has annualized dividend of $0.08 while the current yield stands at 0.93%. Beta for the stock currently stands at 1.78.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of RES was down-trending over the past week, with a drop of -10.24%, but this was down by -2.28% over a month. Three-month performance dropped to -3.59% while six-month performance rose 26.88%. The stock gained 58.49% in the past year, while it has lost -3.37% so far this year. A look at the trailing 12-month EPS for RES yields 0.68 with Next year EPS estimates of 1.20. For the next quarter, that number is 0.29. This implies an EPS growth rate of 103.40% for this year and 33.41% for next year.

Float and Shares Shorts:

At present, 213.36 million RES shares are outstanding with a float of 77.78 million shares on hand for trading. On Oct 13, 2022, short shares totaled 7.38 million, which was 3.41% higher than short shares on Sep 14, 2022. In addition to Mr. Richard A. Hubbell as the firm’s Exec. Chairman, Mr. Ben M. Palmer serves as its CEO, Pres & Director.

Institutional Ownership:

Through their ownership of 32.23% of RES’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 60.01% of RES, in contrast to 21.52% held by mutual funds. Shares owned by individuals account for 11.05%. As the largest shareholder in RES with 5.43% of the stake, BlackRock Fund Advisors holds 11,759,441 shares worth 11,759,441. A second-largest stockholder of RES, The Vanguard Group, Inc., holds 9,459,579 shares, controlling over 4.37% of the firm’s shares. Dimensional Fund Advisors LP is the third largest shareholder in RES, holding 5,466,372 shares or 2.52% stake. With a 2.84% stake in RES, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 6,155,532 shares are owned by the mutual fund manager. The VanEck Oil Services ETF, which owns about 2.37% of RES stock, is the second-largest Mutual Fund holder. It holds 5,141,157 shares valued at 45.7 million. Vanguard Total Stock Market Index holds 1.25% of the stake in RES, owning 2,713,940 shares worth 24.13 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for RES since 5 analysts follow the stock currently. There are 0 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 4 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With RES analysts setting a high price target of $12.50 and a low target of $9.00, the average target price over the next 12 months is $11.00. Based on these targets, RES could surge 45.52% to reach the target high and rise by 4.77% to reach the target low. Reaching the average price target will result in a growth of 28.06% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. RES will report FY 2022 earnings on 01/24/2024. Analysts have provided yearly estimates in a range of $0.92 being high and $0.85 being low. For RES, this leads to a yearly average estimate of $0.90. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. RPC Inc. surprised analysts by $0.10 when it reported $0.32 EPS against a consensus estimate of $0.21. The surprise factor in the prior quarter was $0.12. Based on analyst estimates, the high estimate for the next quarter is $0.31 and the low estimate is $0.24. The average estimate for the next quarter is thus $0.29.

Summary of Insider Activity:

Insiders traded RES stock several times over the past three months with 0 Buys and 21 Sells. In these transactions, 0 shares were bought while 2,941,377 shares were sold. The number of buy transactions has increased to 12 while that of sell transactions has risen to 68 over the past year. The total number of shares bought during that period was 417,069 while 17,338,837 shares were sold.

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