Company shares last traded at $22.71 a great deal higher than the 50 day moving average of $20.15 and well above the 200 day moving average of $19.42. The 50 day moving average was up $2.56 or +12.72% and the 200 day average was up $3.29. (NYSE:RES) shares saw light trading volume with 1,319K shares changing hands on Wednesday. Trading volume was down 29.57% under the stocks average daily volume.
Short traders are feeling a little more bullish on shares of the company lately as evidenced by the decrease in short interest. The company realized a fall in short interest between August 15, 2017 and August 31, 2017 of -0.33%. Short interest decreased from 30,737,358 to 30,636,840 over that period. The short-interest ratio decreased to 21.0 and the percentage of shorted shares was 0.14% on August 31.
Additionally, here are a few investment firms who have increased or decreased their stake in (RES). As of quarter end Aristotle Capital Boston, LLC had bought 51,716 shares growing its position 20.6%. The value in dollars increased from $4,608,000 to $6,131,000 a change of $1,523,000 quarter over quarter. As of the end of the quarter Folger Hill Asset Management Lp had acquired a total of 35,190 shares growing its stake by 15.2%. The value of the company’s investment in RPC, Inc. went from $4,230,000 to $5,380,000 increasing 27.2% for the reporting period.
As of the end of the quarter Bluecrest Capital Management Ltd had acquired 188,428 shares growing its holdings by 1,826.0%. The value of the investment in (RES) increased from $189,000 to $4,017,000 a change of 2,025.4% quarter to quarter. As of the end of the quarter Arosa Capital Management Lp had acquired a total of 103,137 shares growing its stake by 148.4%. The value of the investment in RES went from $1,273,000 to $3,489,000 a change of $2,216,000 since the last quarter.
On September 5, 2017 Barclays starting coverage on the stock by announcing an initial rating of “Equal-Weight”. On June 21, 2017 the stock rating was rated “Neutral” in a report from Seaport Global which is down from the previous “Buy” rating.
In the market the company is trading up by 0.04%% since yesterday’s close of 22.7. The company also declared a dividend for shareholders that was paid on Mon Sep 11, 2017. The dividend was $0.060 per share for the quarter or $0.24 annualized. This dividend represents a yield of $1.06. The ex-dividend date was set for Tuesday the 8th of August 2017.
As of the last earnings report the EPS was $-0.06 and is expected to be $0.81 for the current year with 217,352,000 shares currently outstanding. Analysts expect next quarter’s EPS to be $0.34 with next year’s EPS projected to be $1.37.
RPC, Inc. (RPC), launched on January 20, 1984, is a holding company for several oilfield services companies. The Company provides a range of specialized oilfield services and equipment primarily to independent oil and gas companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the southwest, mid-continent, Gulf of Mexico, Rocky Mountain and Appalachian regions, and in selected international markets. The Business’s segments are Technical Services and Support Services. The Company acts as a holding company for its operating units: Cudd Energy Services, Thru Tubing Solutions and Patterson Services..