Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. RPC Inc. shares valued at $561,757 were sold by Kreisler Amy Rollins on Nov 11. At $10.45 per share, Kreisler Amy Rollins sold 53,751 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
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Also, Rollins Pam R sold 53,751 shares, netting a total of over 561,757 in proceeds. Following the sale of shares at $10.45 each, the insider now holds 0 shares.
Before that, Rollins Timothy Curtis had sold 53,751 shares from its account. In a trade valued at $561,757, the Director traded RPC Inc. shares for $10.45 each. Upon closing the transaction, the insider’s holdings decreased to 53,751 shares, worth approximately $0.0.
As published in a research note from Johnson Rice on April 28, 2022, RPC Inc. [RES] has been rated up from a Hold to a Accumulate and the price target has been revised to $13. This represents a 26.62% premium over Thursday’s closing price. Analysts at Citigroup upgraded the stock from ‘”a Sell”‘ to ‘”a Neutral”‘ outlook in a report released in mid September. As of November 10, 2020, Morgan Stanley has decreased its “an Equal-weight” rating to a “an Underweight” for RES. Earlier on April 13, 2020, Scotiabank upgraded its rating. Their new recommendation was “a Sector perform” for RES stock which previously was a “a Sector underperform”.
Analyzing RES Stock Performance
On Thursday, RPC Inc. [NYSE: RES] rose 4.49% to $9.54. The stock’s lowest price that day was $8.98, but it reached a high of $9.60 in the same session. During the last five days, there has been a surge of approximately 9.28%. Over the course of the year, RPC Inc. shares have jumped approximately 7.31%. Shares of the company reached a 52-week high of $10.32 on 01/12/23 and a 52-week low of $8.34 on 02/22/23. A 50-day SMA is recorded $9.13, while a 200-day SMA reached $8.40. Nevertheless, trading volume fell to 1.05 million shares from 1.26 million shares the previous day.
Support And Resistance Levels for RPC Inc. (RES)
According to the 24-hour chart, there is a support level at 9.15, which, if violated, would cause prices to drop to 8.75. In the upper region, resistance lies at 9.77. The next price resistance is at 9.99. RSI (Relative Strength Index) is 56.21 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.01, which suggests the price will decrease in the coming days. Percent R is at 26.83%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is RPC Inc. subject to short interest?
Stocks of RPC Inc. saw a sharp steep in short interest on Jan 12, 2023 dropping by -0.18 million shares to 6.44 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 6.62 million shares. A decline of -2.8% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.71 of the overall float, the days-to-cover ratio (short ratio) decline to 4.71.
Which companies own the most shares of RPC Inc. (RES)?
According to BlackRock Fund Advisors filings, the company currently owns 12,028,157 shares, which is about 5.55% of the total RES shares outstanding. The investor’s shares have appreciated by 1,112,168 from its previous 13-F filing of 10915989.0 shares. With the completion of the sale transaction, The Vanguard Group, Inc.’s stake is now worth $93,750,627. Dimensional Fund Advisors LP reduced a -7.61% interest valued at $50.1 million while Van Eck Associates Corp. sold a -190,690 stake. A total of 866,566 shares of RPC Inc. were sold by Millennium Management LLC during the quarter, and -485,594 were sold by SSgA Funds Management, Inc. In its current portfolio, GAMCO Asset Management, Inc. holds 3,134,295 shares valued at $31.09 million.