RPC (RES) : Analyst Rating Update

RPC (RES) : The consensus on RPC (RES) based on 13 analyst recommendation on the company stock is 1.92, which is interpreted as a Buy recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 8 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 3 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 2 analyst also believes that the downside risk to the stock is higher and suggests a Sell on RPC (RES).

RPC (RES) has been rated by 10 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $22 and the lowest price target forecast is $10. The average forecast of all the analysts is $15.7 and the expected standard deviation is $4.03.

RPC (NYSE:RES): The stock opened at $15.29 on Wednesday but the bulls could not build on the opening and the stock topped out at $15.40 for the day. The stock traded down to $13.76 during the day, due to lack of any buying support eventually closed down at $15.27 with a loss of -0.33% for the day. The stock had closed at $15.32 on the previous day. The total traded volume was 7,708,877 shares.

Also, Equity Analysts at the Morgan Stanley maintains the rating on RPC (NYSE:RES). The brokerage firm has issued a Equal-weight rating on the shares. The Analysts at the ratings agency raises the price target from $17.5 per share to $19 per share. The rating by the firm was issued on April 27, 2016. The company shares have rallied 22.46% from its 1 Year high price. On Jun 8, 2016, the shares registered one year high at $16.84 and the one year low was seen on Oct 2, 2015. The 50-Day Moving Average price is $15.09 and the 200 Day Moving Average price is recorded at $13.63.

RPC, Inc. (RPC) is an oilfield services holding company. The Company provides a specialized oilfield services and equipment to independent and oil and gas companies engaged in the exploration, production and development of oil and gas properties. The services and equipment provided include pressure pumping services, downhole tool services, coiled tubing services, snubbing services, nitrogen services, the rental of drill pipe and other specialized oilfield equipment, and well control. The Companys service lines include two segments in oil and gas services business segments: Technical Services and Support Services. RPC acts as a holding company for its operating units, Cudd Energy Services, Patterson Rental and Fishing Tools, Bronco Oilfield Services, Thru Tubing Solutions, Well Control School and others.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.