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RPC Inc. (RES) investors to reap big returns again

RPC Inc. (NYSE:RES) has a beta value of 1.78 and has seen 1.93 million shares traded in the last trading session. The company, currently valued at $1.86B, closed the last trade at $8.59 per share which meant 0.00% during that session. The RES stock price is -50.29% off its 52-week high price of $12.91 and 39.93% above the 52-week low of $5.16. If we look at the company’s 10-day average daily trading volume, we find that it stood at 1.12 million shares traded. The 3-month trading volume is 1.27 million shares.

The consensus among analysts is that RPC Inc. (RES) is a Hold stock at the moment, with a recommendation rating of 2.80. 0 analysts rate the stock as a Sell, while 1 rate it as Overweight. 4 out of 5 have rated it as a Hold, with 0 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is $0.21.

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RPC Inc. (NYSE:RES) trade information

The stock has traded in the red over the last five days, with the highest price hit on Tuesday, 01/24/23 when the RES stock price touched $8.59 or saw a rise of 12.35%. Year-to-date, RPC Inc. shares have moved -3.37%, while the 5-day performance has seen it change -10.24%. Over the past 30 days, the shares of RPC Inc. (NYSE:RES) have changed -2.28%. Short interest in the company has seen 7.38 million shares shorted with days to cover at 6.36.

Wall Street analysts have a consensus price target for the stock at $11.00, which means that the shares’ value could jump 21.91% from current levels. The projected low price target is $9.00 while the price target rests at a high of $12.50. In that case, then, we find that the current price level is -45.52% off the targeted high while a plunge would see the stock gain -4.77% from current levels.

RPC Inc. (RES) estimates and forecasts

Figures show that RPC Inc. shares have outperformed across the wider relevant industry. The company’s shares have gained 26.88% over the past 6 months, with this year growth rate of 2,933.33%, compared to -14.00% for the industry. Other than that, the company has, however, increased its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are 250.00% and 257.10% for the next quarter. Revenue growth from the last financial year stood is estimated to be 69.60%.

4 analysts offering their estimates for the company have set an average revenue estimate of $406.22 million for the current quarter. 2 have an estimated revenue figure of $440.35 million for the next quarter concluding in Mar 2023. Year-ago sales stood $268.25 million and $284.62 million respectively for this quarter and the next, and analysts expect sales will grow by 51.40% for the current quarter and 54.70% for the next.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 15.50% over the past 5 years.

RES Dividends

RPC Inc. is expected to release its next earnings report on January 25 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.08 at a share yield of 0.93%. The company’s dividend yield has gone up over the past 12 months.

RPC Inc. (NYSE:RES)’s Major holders

Insiders own 63.43% of the company shares, while shares held by institutions stand at 32.23% with a share float percentage of 88.13%. Investors are also buoyed by the number of investors in a company, with RPC Inc. having a total of 263 institutions that hold shares in the company. The top two institutional holders are Blackrock Inc. with over 11.73 million shares worth more than $81.07 million. As of Jun 29, 2022, Blackrock Inc. held 5.41% of shares outstanding.

The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 8.46 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $58.48 million and represent 3.91% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are iShares Core S&P Smallcap ETF and VanEck ETF Trust-VanEck Oil Services ETF. As of Sep 29, 2022, the former fund manager holds about 2.80% shares in the company for having 6.07 million shares of worth $42.05 million while later fund manager owns 4.92 million shares of worth $34.1 million as of Sep 29, 2022, which makes it owner of about 2.27% of company’s outstanding stock.

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