RPC, Inc. (RES) Short Interest Update

RPC, Inc. (NYSE:RES) was the target of a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 20,692,998 shares, a growth of 19.3% from the October 31st total of 17,344,216 shares. Based on an average daily volume of 1,550,573 shares, the short-interest ratio is currently 13.3 days. Approximately 37.0% of the company’s shares are short sold.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. LPL Financial LLC purchased a new position in RPC during the 3rd quarter worth $156,000. NumerixS Investment Technologies Inc increased its holdings in RPC by 101.1% during the 2nd quarter. NumerixS Investment Technologies Inc now owns 10,861 shares of the oil and gas company’s stock worth $159,000 after purchasing an additional 5,461 shares during the period. Quantitative Systematic Strategies LLC purchased a new position in RPC during the 2nd quarter worth $169,000. FDx Advisors Inc. purchased a new position in RPC during the 3rd quarter worth $180,000. Finally, BlueMountain Capital Management LLC increased its holdings in RPC by 484.4% during the 2nd quarter. BlueMountain Capital Management LLC now owns 12,833 shares of the oil and gas company’s stock worth $187,000 after purchasing an additional 10,637 shares during the period. Institutional investors own 32.97% of the company’s stock.

Several equities research analysts have recently issued reports on the company. Wolfe Research assumed coverage on RPC in a research note on Wednesday, October 10th. They issued an “underperform” rating for the company. ValuEngine raised RPC from a “strong sell” rating to a “sell” rating in a research note on Tuesday, October 2nd. Bank of America assumed coverage on RPC in a research note on Wednesday, October 17th. They issued a “neutral” rating for the company. Morgan Stanley set a $14.00 price objective on RPC and gave the company a “sell” rating in a research note on Thursday, October 11th. Finally, Zacks Investment Research raised RPC from a “strong sell” rating to a “hold” rating in a research note on Friday, October 12th. Three investment analysts have rated the stock with a sell rating and seventeen have assigned a hold rating to the company. RPC presently has a consensus rating of “Hold” and a consensus price target of $17.35.

Shares of RES stock opened at $12.77 on Wednesday. RPC has a 52-week low of $12.69 and a 52-week high of $27.07. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.74 and a quick ratio of 3.01. The company has a market cap of $2.81 billion, a P/E ratio of 19.35, a price-to-earnings-growth ratio of 0.86 and a beta of 0.70.

RPC (NYSE:RES) last issued its quarterly earnings results on Wednesday, October 24th. The oil and gas company reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.23 by ($0.04). RPC had a return on equity of 20.48% and a net margin of 12.40%. The business had revenue of $439.99 million for the quarter, compared to the consensus estimate of $456.54 million. During the same period in the prior year, the business posted $0.26 earnings per share. RPC’s revenue was down 6.6% on a year-over-year basis. Research analysts expect that RPC will post 0.84 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 10th. Investors of record on Friday, November 9th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.13%. The ex-dividend date of this dividend is Thursday, November 8th. RPC’s dividend payout ratio is currently 60.61%.

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RPC Company Profile

RPC, Inc 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 offers pressure pumping, fracturing, acidizing, 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.

See Also: Market Capitalization

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