RPC Inc. (NYSE: RES) stock jumped 2.05% on Tuesday to $7.46 against a previous-day closing price of $7.31. With 1.12 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.38 million shares. During the session, the Oil & Gas Equipment & Services company that operates in wider Energy sector, reached to the highest price of $7.51 whereas the lowest price it dropped to was $7.29. The 52-week range on RES shows that it touched its highest point at $11.40 and its lowest point at $5.70 during that stretch. It currently has a 1-year price target of $10.75. With its current market cap of 1.61 billion, RES has annualized dividend of $0.16 while the current yield stands at 2.14%. Beta for the stock currently stands at 1.79.
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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 up-trending over the past week, with a rise of 9.38%, but this was down by -4.97% over a month. Three-month performance dropped to -13.05% while six-month performance fell -22.69%. The stock lost -13.46% in the past year, while it has lost -16.09% so far this year. A look at the trailing 12-month EPS for RES yields 1.27 with Next year EPS estimates of 1.35. For the next quarter, that number is 0.39. This implies an EPS growth rate of 48.50% for this year and -9.61% for next year.
Float and Shares Shorts:
At present, 213.65 million RES shares are outstanding with a float of 77.78 million shares on hand for trading. On Apr 27, 2023, short shares totaled 8.48 million, which was 3.92% higher than short shares on Mar 30, 2023. In addition to Mr. Richard A. Hubbell as the firm’s Exec. Chairman, Mr. Ben M. Palmer serves as its CEO, Pres & Director.
Through their ownership of 33.97% of RES’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 59.70% of RES, in contrast to 21.54% held by mutual funds. Shares owned by individuals account for 13.10%. As the largest shareholder in RES with 5.50% of the stake, BlackRock Fund Advisors holds 11,969,074 shares worth 11,969,074. A second-largest stockholder of RES, The Vanguard Group, Inc., holds 9,450,668 shares, controlling over 4.34% of the firm’s shares. Dimensional Fund Advisors LP is the third largest shareholder in RES, holding 5,917,560 shares or 2.72% stake. With a 2.77% stake in RES, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 6,023,387 shares are owned by the mutual fund manager. The VanEck Oil Services ETF, which owns about 1.70% of RES stock, is the second-largest Mutual Fund holder. It holds 3,693,372 shares valued at 27.29 million. Vanguard Total Stock Market ETF holds 1.25% of the stake in RES, owning 2,711,229 shares worth 20.04 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, RES reported revenue of $375.51M and operating income of $58.62M. The EBITDA in the recently reported quarter was $58.82M and diluted EPS was $0.22.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for RES since 0 analysts follow the stock currently. 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 $13.00 and a low target of $8.00, the average target price over the next 12 months is $10.44. Based on these targets, RES could surge 74.26% to reach the target high and rise by 7.24% to reach the target low. Reaching the average price target will result in a growth of 39.95% 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.
Summary of Insider Activity:
Insiders traded RES stock several times over the past three months with 8 Buys and 0 Sells. In these transactions, 54,128 shares were bought while 0 shares were sold. The number of buy transactions has increased to 15 while that of sell transactions has risen to 67 over the past year. The total number of shares bought during that period was 429,439 while 12,459,387 shares were sold.