RPC, Inc. (RES) Reaches $18.74 After 4.00% Down Move; Ocean Power Technologies (OPTT) Shorts Increased By 4.31%

May 18, 2018 - By Jonathan Benavides

Ocean Power Technologies, Inc. (NASDAQ:OPTT) Logo

The stock of RPC, Inc. (NYSE:RES) is a huge mover today! The stock decreased 4.19% or $0.82 during the last trading session, reaching $18.74. About 658,924 shares traded. RPC, Inc. (NYSE:RES) has risen 5.99% since May 18, 2017 and is uptrending. It has underperformed by 5.56% the S&P500.The move comes after 6 months negative chart setup for the $4.04B company. It was reported on May, 18 by Barchart.com. We have $17.99 PT which if reached, will make NYSE:RES worth $161.52 million less.

Ocean Power Technologies Inc (NASDAQ:OPTT) had an increase of 4.31% in short interest. OPTT’s SI was 2.04M shares in May as released by FINRA. Its up 4.31% from 1.96M shares previously. With 1.36M avg volume, 2 days are for Ocean Power Technologies Inc (NASDAQ:OPTT)’s short sellers to cover OPTT’s short positions. The stock increased 0.24% or $0.0027 during the last trading session, reaching $1.1427. About 105,143 shares traded. Ocean Power Technologies, Inc. (NASDAQ:OPTT) has declined 51.15% since May 18, 2017 and is downtrending. It has underperformed by 62.70% the S&P500.

Analysts await RPC, Inc. (NYSE:RES) to report earnings on July, 25. They expect $0.31 EPS, up 55.00% or $0.11 from last year’s $0.2 per share. RES’s profit will be $66.80 million for 15.11 P/E if the $0.31 EPS becomes a reality. After $0.24 actual EPS reported by RPC, Inc. for the previous quarter, Wall Street now forecasts 29.17% EPS growth.

Another recent and important RPC, Inc. (NYSE:RES) news was published by Seekingalpha.com which published an article titled: “RPC down 6% on Q1 results miss” on April 25, 2018.

Investors sentiment increased to 1.23 in Q4 2017. Its up 0.29, from 0.94 in 2017Q3. It is positive, as 19 investors sold RPC, Inc. shares while 73 reduced holdings. 49 funds opened positions while 64 raised stakes. 75.74 million shares or 6.39% less from 80.91 million shares in 2017Q3 were reported. Moreover, Deutsche Bankshares Ag has 0.02% invested in RPC, Inc. (NYSE:RES) for 1.23 million shares. 21,178 were reported by Pnc Serv Gp. Tiaa Cref Inv Ltd Limited Liability Company, a New York-based fund reported 361,114 shares. Nomura Incorporated reported 14,316 shares stake. Monarch Asset Mgmt Ltd Com invested 0.44% in RPC, Inc. (NYSE:RES). Chicago Equity Prtn Limited Liability Corporation stated it has 0.65% of its portfolio in RPC, Inc. (NYSE:RES). Int Grp Inc owns 1,361 shares. Strategic Glob Lc has invested 0.37% in RPC, Inc. (NYSE:RES). Keybank Association Oh holds 0% or 28,777 shares in its portfolio. Waddell & Reed Financial stated it has 3.86M shares or 0.22% of all its holdings. Macquarie Group Ltd stated it has 0% in RPC, Inc. (NYSE:RES). Engy Opportunities Capital Ltd Liability, Texas-based fund reported 127,092 shares. State Of Alaska Department Of Revenue has 0% invested in RPC, Inc. (NYSE:RES) for 5,800 shares. First Manhattan holds 0% or 3,187 shares in its portfolio. Dean Inv Ltd Limited Liability Company accumulated 32,782 shares or 0.13% of the stock.

Among 24 analysts covering RPC (NYSE:RES), 5 have Buy rating, 1 Sell and 18 Hold. Therefore 21% are positive. RPC had 93 analyst reports since August 14, 2015 according to SRatingsIntel. The stock has “Neutral” rating by Citigroup on Friday, March 18. The stock of RPC, Inc. (NYSE:RES) has “Overweight” rating given on Thursday, January 28 by Morgan Stanley. The stock has “Hold” rating by Piper Jaffray on Sunday, September 17. The company was initiated on Tuesday, December 22 by Guggenheim. The rating was maintained by B. Riley & Co on Thursday, April 26 with “Neutral”. Tudor Pickering upgraded the shares of RES in report on Tuesday, January 12 to “Buy” rating. The company was downgraded on Thursday, December 7 by Evercore. The company was maintained on Thursday, October 1 by Oppenheimer. The firm earned “Neutral” rating on Wednesday, February 22 by Susquehanna. SunTrust downgraded the shares of RES in report on Monday, August 24 to “Neutral” rating.

RPC, Inc. provides a range of oilfield services and equipment for gas and oil companies involved in the exploration, production, and development of gas and oil properties in the United States, Africa, Canada, Argentina, China, Mexico, Eastern Europe, Latin America, and the Middle East. The company has market cap of $4.04 billion. The firm operates in two divisions, Technical Services and Support Services. It has a 25.02 P/E ratio. The Technical Services segment offers pressure pumping, fracturing, acidizing, downhole tools, coiled tubing, snubbing, nitrogen, well control, wireline, and fishing services that are used in the completion, production, and maintenance of gas and oil wells.

Since May 10, 2018, it had 0 insider purchases, and 1 sale for $67,456 activity. On Thursday, May 10 PALMER BEN M sold $67,456 worth of RPC, Inc. (NYSE:RES) or 3,500 shares.

Ocean Power Technologies, Inc. develops and commercializes proprietary systems that generate electricity by harnessing the renewable energy of ocean waves primarily in North America, Europe, Australia, and Asia. The company has market cap of $20.74 million. It offers PowerBuoy system that is designed to generate power for use independent of the power grid in remote offshore locations. It currently has negative earnings. The firm focuses on serving public and private entities, and agencies that require remote offshore power.

RPC, Inc. (NYSE:RES) Institutional Positions Chart

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