Investors Purchase Large Volume of Call Options on RPC (NYSE:RES)

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RPC, Inc. (NYSE:RES) was the recipient of unusually large options trading on Monday. Stock traders acquired 1,486 call options on the company. This represents an increase of 1,061% compared to the typical volume of 128 call options.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Morgan Dempsey Capital Management LLC increased its stake in shares of RPC by 384.1% in the first quarter. Morgan Dempsey Capital Management LLC now owns 128,249 shares of the oil and gas company’s stock worth $1,463,000 after acquiring an additional 101,758 shares during the last quarter. NumerixS Investment Technologies Inc bought a new stake in RPC in the first quarter worth $154,000. Bank of New York Mellon Corp boosted its holdings in RPC by 147.2% in the fourth quarter. Bank of New York Mellon Corp now owns 1,728,259 shares of the oil and gas company’s stock worth $17,059,000 after purchasing an additional 1,029,104 shares in the last quarter. Two Sigma Investments LP bought a new stake in RPC in the fourth quarter worth $382,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in RPC in the first quarter worth $172,000. 31.94% of the stock is currently owned by institutional investors and hedge funds.

A number of equities research analysts have weighed in on the company. Susquehanna Bancshares set a $70.00 target price on Helmerich & Payne and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Morgan Stanley set a $207.00 target price on Alibaba Group and gave the stock a “buy” rating in a research report on Friday. ValuEngine cut Verso from a “hold” rating to a “sell” rating in a report on Thursday, May 23rd. Bank of America raised Air Products & Chemicals from an “underperform” rating to a “neutral” rating and upped their price target for the company from $170.00 to $215.00 in a report on Thursday, April 25th. Finally, AltaCorp Capital reaffirmed a “sector perform” rating on shares of STEP Energy Services in a report on Thursday, June 20th. Nine analysts have rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $12.28.

NYSE RES opened at $6.38 on Tuesday. The company has a market capitalization of $1.43 billion, a PE ratio of 7.78, a P/E/G ratio of 6.34 and a beta of 1.06. RPC has a 1 year low of $6.28 and a 1 year high of $17.24. The firm has a fifty day moving average of $7.14. 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, April 24th. The oil and gas company reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.05). RPC had a net margin of 7.57% and a return on equity of 11.99%. The firm had revenue of $334.70 million for the quarter, compared to analyst estimates of $351.95 million. During the same period last year, the firm earned $0.24 earnings per share. RPC’s revenue for the quarter was down 23.3% compared to the same quarter last year. On average, sell-side analysts predict that RPC will post 0.18 earnings per share for the current year.

About RPC

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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