11 Penny Stocks That Will Make You A Millionaire

4. RPC, Inc. (NYSE:RES)

Number of Hedge Fund Holders: 11

RPC, Inc. (NYSE:RES) is an energy company based in Atlanta, Georgia. It provides a range of oilfield services and equipment for oil and gas companies.

In the Penny Options Trader newsletter, Marc Lichtenfeld pitched an energy stock he expects to be incredibly profitable to those who invest in it at the right time. Here are some of his comments:

“It’s NOT an oil producer… a refiner… a pipeline company… or a royalty trust. Rather, :it’s one of the most overlooked – and most profitable – businesses in the sector. From December 30, 2021, to March 30, 2023, sales have nearly tripled. And profits are rising even faster. In the past 15 months alone, profits have gone up 3,757%. And yet, for reasons I’ll soon explain, the stock has remained incredibly cheap at less than $10 per share. In fact, out of the profitable stocks that trade on the S&P 500, only 17 trade at a cheaper valuation than this stock.”

Travis Johnson believes that this is most likely referring to RPC, Inc. (NYSE:RES). If that is true, there may be some value in this company, as Lichtenfeld says. According to RPC, Inc.’s (NYSE:RES) first-quarter earnings call, the company expects to make some attractive acquisitions to increase its scale and bolster its service lines soon, through which it aims to provide a solid return on capital.

In total, 11 hedge funds were long RPC, Inc. (NYSE:RES) in the second quarter, with a total stake value of $50.7 million.