A share of RPC Inc. (NYSE:RES) closed at $7.99 per share on Tuesday, down from $8.26 day before. While RPC Inc. has underperformed by -3.27%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, RES fell by -27.69%, with highs and lows ranging from $12.91 to $5.70, whereas the simple moving average fell by -3.90% in the last 200 days.
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On April 28, 2022, Johnson Rice Upgraded RPC Inc. (NYSE: RES) to Accumulate. A report published by Citigroup on September 13, 2021, Upgraded its rating to ‘Neutral’ for RES. Morgan Stanley also Downgraded RES shares as ‘Underweight’, setting a target price of $2.50 on the company’s shares in a report dated November 10, 2020. Morgan Stanley March 16, 2020d its ‘Overweight’ rating to ‘Equal-Weight’ for RES, as published in its report on March 16, 2020. Raymond James’s report from January 06, 2020 suggests a price prediction of $7 for RES shares, giving the stock a ‘Outperform’ rating. Scotiabank also rated the stock as ‘Sector Underperform’.
Analysis of RPC Inc. (RES)
It’s important to note that RES shareholders are currently getting $0.16 per share in dividends, so investors will receive a return regardless of how the company performs. Further, the quarter-over-quarter increase in sales is 79.60%, showing a positive trend in the upcoming months.
RPC Inc.’s future performance can be predicted by a variety of well-rounded types of analysis and research, with equity being one of the most crucial ones. The goal here is to ensure that your current return on equity of 28.70% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 3.40, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can be an extremely valuable indicator of volatility, and RES is registering an average volume of 1.38M. On a monthly basis, the volatility of the stock is set at 5.38%, whereas on a weekly basis, it is put at 5.10%, with a loss of -1.24% over the past seven days. Furthermore, long-term investors anticipate a median target price of $11.30, showing growth from the present price of $7.99, which can serve as yet another indication of whether RES is worth investing in or should be passed over.
How Do You Analyze RPC Inc. Shares?
A giant in the Oil & Gas Equipment & Services market, RPC Inc. (RES) is based in the USA. When comparing RPC Inc. shares with other companies under Energy, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 7.92, there is a growth in quarterly earnings of 552.60%.
Besides checking the fundamentals, you should also know how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 41.10%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 32.80% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in RES shares?
The recent increase in stakes in RES appears to be a result of several institutional investors and hedge funds increasing their positions. BlackRock Fund Advisors’s position in RES has increased by 10.19% in the first quarter. The company now owns 12,028,157 shares of the stock, with a value of $105.49 million, following the purchase of 1,112,168 additional shares during the last quarter. The Vanguard Group, Inc. made another decreased to its shares in RES during the first quarter, downing its stake by -0.09%. During the last quarter, the company dropped down -8,911 additional shares for a total stake of worth $82.88 million, bringing number of shares owned by the company to 9,450,668.
During the first quarter, Dimensional Fund Advisors LP subtracted a -415,759 position in RES. Van Eck Associates Corp. sold an additional -0.19 million shares in the last quarter, decreasing its holdings by -3.94%, now holding 4.65 million shares worth $40.77 million. At the end of the first quarter, Millennium Management LLC increased its RES holdings by 26.25% and now holds 4.17 million RES shares valued at $36.56 million with the added 0.87 million shares during the period. RES shares are owned by institutional investors to the tune of 32.80% at present.
