RPC Inc. [NYSE: RES] gained 7.19% or 0.22 points to close at $3.28 with a heavy trading volume of 1180332 shares. The company report on July 29, 2020 that RPC, Inc. Reports Second Quarter 2020 Financial Results.
RPC, Inc. (NYSE: RES) today announced its unaudited results for the second quarter ended June 30, 2020. RPC provides a broad range of specialized oilfield services and equipment primarily to independent and major oilfield companies engaged in the exploration, production and development of oil and gas properties throughout the United States and in selected international markets.
For the quarter ended June 30, 2020, revenues were $89.3 million, a decrease of 75.1 percent compared with $358.5 million in the second quarter of 2019. Revenues decreased due to lower activity levels and pricing compared to the second quarter of the prior year. Operating loss for the second quarter of 2020 was $37.5 million compared to operating profit of $8.4 million in the same period of the prior year. Adjusted operating loss for the second quarter of 2020 was $35.9 million.1 Net loss for the second quarter of 2020 was $25.1 million, or $0.12 loss per share, compared to net income of $6.2 million, or $0.03 earnings per share, in the second quarter of 2019. Adjusted net loss for the second quarter of 2020 was $22.3 million, or $0.10 adjusted loss per share.2 Earnings before interest, taxes, depreciation and amortization (EBITDA) for the second quarter of 2020 was negative $19.4 million, compared to EBITDA of $51.2 million in the same period of the prior year.3 Adjusted EBITDA for the second quarter of 2020 was negative $17.8 million.3 .
It opened the trading session at $3.05, the shares rose to $3.29 and dropped to $3.05, the range by which the price of stock traded the whole day. The daily chart for RES points out that the company has recorded -17.17% loss over the past six months. However, it is still -90.7% lower than its most recent low trading price.
If we look at the average trading volume of 940.68K shares, RES reached to a volume of 1180332 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about RPC Inc. [RES]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RES shares is $2.86 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RES stock is a recommendation set at 3.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Scotiabank have made an estimate for RPC Inc. shares, keeping their opinion on the stock as Sector Perform, with their previous recommendation back on April 13, 2020. The new note on the price target was released on March 16, 2020, representing the official price target for RPC Inc. stock. Previously, the target price had yet another raise to $7, while Raymond James analysts kept a Outperform rating on RES stock.
The Average True Range (ATR) for RPC Inc. is set at 0.20, with the Price to Sales ratio for RES stock in the period of the last 12 months amounting to 0.84. The Price to Book ratio for the last quarter was 1.09, with the Price to Cash per share for the same quarter was set at 0.66. Price to Free Cash Flow for RES in the course of the last twelve months was 8.97 with Quick ratio for the last quarter at 5.40.
Trading performance analysis for RES stock
RPC Inc. [RES] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.47. With this latest performance, RES shares gained by 7.54% in over the last four-week period, additionally sinking by -17.17% over the last 6 months – not to mention a drop of -42.66% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RES stock in for the last two-week period is set at 50.71, with the RSI for the last a single of trading hit 56.11, and the three-weeks RSI is set at 52.54 for RPC Inc. [RES]. The present Moving Average for the last 50 days of trading for this stock 3.24, while it was recorded at 3.13 for the last single week of trading, and 3.59 for the last 200 days.
RPC Inc. [RES]: A deeper dive into fundamental analysis
Operating Margin for any stock indicates how profitable investing would be, and RPC Inc. [RES] shares currently have an operating margin of -3.66 and a Gross Margin at +10.83. RPC Inc.’s Net Margin is presently recorded at -7.15.
Return on Total Capital for RES is now -4.92, given the latest momentum, and Return on Invested Capital for the company is -9.67. Return on Equity for this stock declined to -9.82, with Return on Assets sitting at -7.50. When it comes to the capital structure of this company, RPC Inc. [RES] has a Total Debt to Total Equity ratio set at 4.70. Additionally, RES Total Debt to Total Capital is recorded at 4.49, with Total Debt to Total Assets ending up at 3.51. Long-Term Debt to Equity for the company is recorded at 3.42, with the Long-Term Debt to Total Capital now at 3.26.
Reflecting on the efficiency of the workforce at the company, RPC Inc. [RES] managed to generate an average of -$32,387 per employee. Receivables Turnover for the company is 3.90 with a Total Asset Turnover recorded at a value of 1.05.RPC Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.40 and a Current Ratio set at 7.00.
RPC Inc. [RES]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, RPC Inc. posted -0.08/share EPS, while the average EPS was predicted by analysts to be reported at 0/share. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for RES. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for RPC Inc. go to 52.00%.
An analysis of insider ownership at RPC Inc. [RES]
There are presently around $216 million, or 31.40% of RES stock, in the hands of institutional investors. The top three institutional holders of RES stocks are: BLACKROCK INC. with ownership of 8,606,918, which is approximately 2.059% of the company’s market cap and around 63.40% of the total institutional ownership; VANGUARD GROUP INC, holding 6,789,873 shares of the stock with an approximate value of $22.27 million in RES stocks shares; and ALLIANCEBERNSTEIN L.P., currently with $13.61 million in RES stock with ownership of nearly -35.603% of the company’s market capitalization.
Positions in RPC Inc. stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 66 institutional holders increased their position in RPC Inc. [NYSE:RES] by around 7,212,152 shares. Additionally, 93 investors decreased positions by around 9,336,635 shares, while 39 investors held positions by with 49,202,611 shares. The mentioned changes placed institutional holdings at 65,751,398 shares, according to the latest SEC report filing. RES stock had 13 new institutional investments in for a total of 555,259 shares, while 33 institutional investors sold positions of 1,104,952 shares during the same period.