BlackRock Fund Advisors has recently announced that it has increased stake in RPC, Inc. (NYSE:RES) by 2.67%. After grabbing 12.53 million shares, the institutional investor is now in possession of 0.33 million shares of the Energy Company. The new investment brought the stake of investor firm to 5.79% having worth around $91.21 million. Moreover, Pacer Advisors, Inc. increased its share by 6.06 million to have a control over 8.28 million shares. And Dimensional Fund Advisors LP raised its holdings to 1.23 million shares by acquiring 8.1 million shares or 3.75% of the stake.
RPC, Inc. (RES) concluded trading on Wednesday at a closing price of $6.90, with 3.28 million shares of worth about $22.62 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -22.99% during that period and On Wednesday, January 24 the price saw a gain of about 3.92%. Currently the company’s common shares owned by public are about 216.61M shares, out of which, 96.92M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 18 times over the past 12 months. They bought 54,128 shares in 8 of the transactions. In 10 selling transactions, insiders dumped 205,180 shares.
Pacer Fds. Tr. – US Small Cap Cas, iShares Core S&P Small Cap ETF, and Vanguard Total Stock Market ETF are the top 3 mutual funds which are holding stakes in RPC, Inc. Pacer Fds. Tr. – US Small Cap Cas is currently holding 8.46 million shares of worth totaling $61.56 million. The company recently came buying 35628.0 shares which brought its stake up to 3.91% of the company’s outstanding shares. iShares Core S&P Small Cap ETF sold 45957.0 shares, after which its hold over company’s outstanding shares shrunk to 2.63%, leaving 5.69 million shares with the mutual fund that have a worth of about $41.45 million. Vanguard Total Stock Market ETF, after buying 3.03 million shares, have now control over 1.40% of the stake in the company. It holds 0.0 shares of worth $22.03 million.
Stock saw a price change of 7.48% in past 5 days and over the past one month there was a price change of -7.01%. Year-to-date (YTD), RES shares are showing a performance of -5.22% which decreased to -19.67% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $6.34 but also hit the highest price of $10.17 during that period. The average intraday trading volume for RPC, Inc. shares is 1.69 million. The stock is currently trading -0.39% below its 20-day simple moving average (SMA20), while that difference is down -3.32% for SMA50 and it goes to -10.99% lower than SMA200.
BlackRock Fund Advisors acquired 12.53 million shares of RPC, Inc. having value of about $91.21 million. Data submitted at the U.S SEC by BlackRock Fund Advisors revealed that the firm now holds 0.33 million shares in the company valued at close to $2245232.4, or have control over 2.67% stake in the company. RPC, Inc. (NYSE: RES) currently have 216.61M outstanding shares and institutions hold larger chunk of about 40.57% of that. Holding of mutual funds in the company is about 29.27% while other institutional holders and individual stake holders have control over 59.98% and 11.53% of the stake respectively.
The stock has a current market capitalization of $1.49B and its 3Y-monthly beta is at 1.62. PE ratio of stock for trailing 12 months is 6.22, while it has posted earnings per share of $1.11 in the same period. It has Quick Ratio of 4.11 while making debt-to-equity ratio of 0.03. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for RES, volatility over the week remained 3.08% while standing at 3.07% over the month.
Analysts are in expectations that RPC, Inc. (RES) stock would likely to be making an EPS of $0.18 in the current quarter, while forecast for next quarter EPS is $0.21 and it is $0.94 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.12 which is $0.23 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.4 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -10.22% while it is estimated to increase by 6.95% in next year.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Citigroup on June 16, 2023 offering a Sell rating for the stock and assigned a target price range of between $8.25 and $7 to it.
