#4. RPC Inc. (NYSE:RES)
– Short Interest Ratio: 47.6%
– Investors with Long Positions (as of June 30): 20
– Aggregate Value of Investors’ Holdings (as of June 30): $218.93 Million
Short interest for RPC Inc. (NYSE:RES) rose by 1.73 million shares during the two-week period that ended August 31 to 27.64 million shares, which represented 47.5% of the total float. At the most recent average daily volume, it would take approximately 23 days to cover all short positions. There were 20 smart money investors from our database invested in RPC both at the end of the first and second quarter. However, the aggregate value of those investors’ equity investments in RPC increased by 25% quarter-on-quarter to $218.93 million, partially due to a 9% increase in the value of the company’s stock. The provider of oilfield services to independent and major oilfield companies engaged in the exploration, production and development of oil and gas properties has seen its market capitalization jump by 22% since the start of the year. In the second quarter of 2016, the company’s revenues fell by 51.9% year-over-year to $143.0 million, primarily reflecting lower activity levels and pricing for its services. Ken Griffin’s Citadel Advisors LLC trimmed its position in RPC Inc. (NYSE:RES) by 20% during the April-to-June quarter to 1.17 million shares.
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#3. EP Energy Corp (NYSE:EPE)
– Short Interest Ratio: 49.9%
– Investors with Long Positions (as of June 30): 13
– Aggregate Value of Investors’ Holdings (as of June 30): $47.36 Million
Up-to-date short interest data reveals a decrease of 921,527 shares in short interest for EP Energy Corp (NYSE:EPE) to 18.82 million shares, with the company’s short interest as a percentage of its float standing at a worrying 49.9% at the end of August. Meanwhile, the independent exploration and production company engaged in the acquisition and development of unconventional onshore oil and natural gas properties has received some attention from the segment of the hedge fund industry monitored by Insider Monkey, as the number of asset managers with stakes in EP Energy climbed to 13 from 10 during the second quarter. Nonetheless, the overall value of those stakes fell by 12% quarter-over-quarter to $47.36 million despite a 14% gain in the value of EP Energy’s shares. The company’s total physical sales for the six months that ended June 30 dropped by 44% year-on-year to $387 million, mainly due to lower commodity prices across all commodity types as well as lower oil volumes as a result of the slowed pace of development in its drilling programs. Neil Chriss’ Hutchin Hill Capital acquired a new stake of 208,900 shares of EP Energy Corp (NYSE:EPE) during the June quarter.
