RPC, Inc. (NYSE:RES) Short Interest Up 8.7% in July
RPC, Inc. (NYSE:RES) was the target of a large growth in short interest during the month of July. As of July 15th, there was short interest totalling 19,572,700 shares, a growth of 8.7% from the June 15th total of 18,005,300 shares. Approximately 35.1% of the company’s stock are short sold. Based on an average daily volume of 1,990,000 shares, the short-interest ratio is currently 9.8 days.
Shares of NYSE RES traded down $0.16 during midday trading on Friday, reaching $5.78. The company’s stock had a trading volume of 2,774,680 shares, compared to its average volume of 2,167,083. RPC has a 12-month low of $5.61 and a 12-month high of $17.24. The firm has a 50 day moving average price of $6.83. The firm has a market cap of $1.24 billion, a PE ratio of 7.05, a P/E/G ratio of 7.90 and a beta of 1.06. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.53 and a quick ratio of 2.77.
RPC (NYSE:RES) last announced its earnings results on Wednesday, July 24th. The oil and gas company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). RPC had a return on equity of 6.32% and a net margin of 4.55%. The business had revenue of $358.50 million during the quarter, compared to analysts’ expectations of $362.40 million. During the same quarter in the previous year, the firm earned $0.28 EPS. RPC’s quarterly revenue was down 23.4% on a year-over-year basis. On average, equities analysts anticipate that RPC will post 0.05 EPS for the current fiscal year.
A number of equities analysts have issued reports on RES shares. Susquehanna Bancshares set a $70.00 price target on Helmerich & Payne and gave the company a “buy” rating in a research note on Tuesday, April 2nd. Morgan Stanley set a $207.00 price target on Alibaba Group and gave the company a “buy” rating in a research note on Friday, July 12th. Gabelli downgraded RPC from a “buy” rating to a “hold” rating in a research note on Thursday. Bank of America upgraded Air Products & Chemicals from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $170.00 to $215.00 in a research note on Thursday, April 25th. Finally, AltaCorp Capital restated a “sector perform” rating on shares of STEP Energy Services in a research note on Thursday, June 20th. Nine research analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the stock. RPC has an average rating of “Hold” and a consensus target price of $12.03.
RPC, Inc, through its subsidiaries, provides a range of oilfield services and equipment for the oil and gas companies involved in the exploration, production, and development of oil and gas properties. The company operates through Technical Services and Support Services segments. The Technical Services offers pressure pumping, fracturing, acidizing, downhole tools, coiled tubing, snubbing, nitrogen, well control, wireline, pump down, and fishing services that are used in the completion, production, and maintenance of oil and gas wells.
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