The Attractiveness of Investing In RPC Inc. (RES) is Growing


RPC Inc.’s recently made public that its Director ROLLINS GARY W unloaded Company’s shares for reported $4.54 million on Nov 03. In the deal valued at $10.42 per share,436,013 shares were sold. As a result of this transaction, ROLLINS GARY W now holds 136,597 shares worth roughly $ 1.43 million.

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Then, LOR INC sold 436,013 shares, generating $4,544,956 in total proceeds. Upon selling the shares at $10.42, the 10% Owner now owns 136,597 shares.

Before that, LOR INC sold 316,632 shares. RPC Inc. shares valued at $3,371,941 were divested by the 10% Owner at a price of $10.65 per share. As a result of the transaction, LOR INC now holds 572,610 shares, worth roughly $5.98 million.

Johnson Rice upgraded its RPC Inc. [RES] rating to a Accumulate from a a Hold in a research note published on Monday. PT values the company’s stock at a premium of 19.62 to its Monday closing price. A number of analysts have revised their coverage, including Citigroup’s analysts, who increased its forecast for the stock in mid September from “a Sell” to “a Neutral”. Morgan Stanley also remained covering RES and has decreased its forecast on November 10, 2020 with a “an Underweight” recommendation from previously “an Equal-weight” rating. Scotiabank revised its rating on April 13, 2020. It rated RES as “a Sector perform” which previously was an “a Sector underperform”.

Price Performance Review of RES

On Monday, RPC Inc. [NYSE:RES] saw its stock jump 0.48% to $10.45. On the same session, the stock had its day’s lowest price of $10.28, but rose to a high of $10.715. Over the last five days, the stock has lost -6.11%. RPC Inc. shares have risen nearly 130.18% since the year began. Nevertheless, the stocks have risen 94.60% over the past one year. While a 52-week high of $12.91 was reached on 04/18/22, a 52-week low of $3.82 was recorded on 01/03/22. SMA at 50 days reached $8.23, while 200 days put it at $8.53. A total of 1.98 million shares were traded, compared to the trading of 1.49 million shares in the previous session.

Levels Of Support And Resistance For RES Stock

The 24-hour chart illustrates a support level at 10.25, which if violated will result in even more drops to 10.05. On the upside, there is a resistance level at 10.68. A further resistance level may holdings at 10.92. The Relative Strength Index (RSI) on the 14-day chart is 65.84, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.54, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 29.41%. Stochastics %K at 71.80% indicates the stock is a holding.

How much short interest is there in RPC Inc.?

A steep rise in short interest was recorded in RPC Inc. stocks on Jul 14, 2022, growing by 0.77 million shares to a total of 6.74 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 5.97 million shares. There was a rise of 11.42%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 9.96% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.78.

RPC Inc. [RES] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 10,915,989 shares, or roughly 5.04% of the outstanding RES shares. In other words, the investor’s shares have risen by 109,825 from its previous 13-F filing of 10806164.0. Additionally, The Vanguard Group, Inc. decreased -0.15% of its stake after which the total value it holdings stand at $57,399,388, while Dimensional Fund Advisors LP added 8.21% of its stake to hold $37.0 million in the firm. Over the last quarter, Van Eck Associates Corp. sold -2,657,292 shares of RPC Inc., while SSgA Funds Management, Inc. sold 708,058 shares. At present, Millennium Management LLC is holding 3,203,185 shares valued at $22.2 million. GAMCO Asset Management, Inc. owned 3,201,583 shares of the company at the time of its most recent 13F filing, worth $22.19 million.

According to FactSet, RPC Inc.’s share price will average $10.83 in the next year, based on opinions of analysts polled by the firm. This is up nearly 8.17 percent from its previous closing price of $10.40. Analysts expect RPC Inc. stock to reach the higher price of $13.00, while the lowest price estimate is $8.00. However, 6 analysts have rated RES stock as a Hold in their predictions for 2022.


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