Monitoring RPC Inc. (RES) after recent insider movements

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RPC Inc.’s filing revealed that its Director Kreisler Amy Rollins unloaded Company’s shares for reported $0.56 million on Nov 11. In the deal valued at $10.45 per share,53,751 shares were sold. As a result of this transaction, Kreisler Amy Rollins now holds 0 shares worth roughly $ 0.0.

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Then, Rollins Pam R sold 53,751 shares, generating $561,757 in total proceeds. Upon selling the shares at $10.45, the Director now owns 0 shares.

Before that, Rollins Timothy Curtis sold 53,751 shares. RPC Inc. shares valued at $561,757 were divested by the Director at a price of $10.45 per share. As a result of the transaction, Rollins Timothy Curtis now holds 0 shares, worth roughly $0.0.

Johnson Rice upgraded its RPC Inc. [RES] rating to a Accumulate from a a Hold in a research note published on Tuesday. PT values the company’s stock at a premium of 33.92 to its Tuesday 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 Tuesday, RPC Inc. [NYSE:RES] saw its stock remained unchanged to $8.59. On the same session, the stock had its day’s lowest price of $8.39, but rose to a high of $8.815. Over the last five days, the stock has lost -10.24%. RPC Inc. shares have fallen nearly -3.37% since the year began. Nevertheless, the stocks have risen 58.49% over the past one year. While a 52-week high of $12.91 was reached on 01/12/23, a 52-week low of $5.16 was recorded on 01/24/23. SMA at 50 days reached $9.03, while 200 days put it at $8.59. A total of 1.93 million shares were traded, compared to the trading of 1.12 million shares in the previous session.

Levels Of Support And Resistance For RES Stock

The 24-hour chart illustrates a support level at 8.38, which if violated will result in even more drops to 8.17. On the upside, there is a resistance level at 8.81. A further resistance level may holdings at 9.02. The Relative Strength Index (RSI) on the 14-day chart is 42.88, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.56, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 89.66%. Stochastics %K at 10.70% indicates the stock is a buying.

How much short interest is there in RPC Inc.?

A steep rise in short interest was recorded in RPC Inc. stocks on Oct 13, 2022, growing by 0.66 million shares to a total of 7.38 million shares. Yahoo Finance data shows the prior-month short interest on Sep 14, 2022 was 6.72 million shares. There was a rise of 8.94%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 10.89% of the overall stock float, the days-to-cover ratio (short ratio) rose to 6.36.

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

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 11,759,441 shares, or roughly 5.43% of the outstanding RES shares. In other words, the investor’s shares have risen by 843,452 from its previous 13-F filing of 10915989.0. Additionally, The Vanguard Group, Inc. increased 14.21% of its stake after which the total value it holdings stand at $84,095,657, while Dimensional Fund Advisors LP added 2.38% of its stake to hold $48.6 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 -82,652 shares. At present, Millennium Management LLC is holding 3,301,806 shares valued at $29.35 million. GAMCO Asset Management, Inc. owned 3,147,383 shares of the company at the time of its most recent 13F filing, worth $27.98 million.

According to FactSet, RPC Inc.’s share price will average $11.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 28.06 percent from its previous closing price of $8.59. Analysts expect RPC Inc. stock to reach the higher price of $12.50, while the lowest price estimate is $9.00. However, 5 analysts have rated RES stock as a Hold in their predictions for 2023.

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