Today’s Price Action: Could RPC, Inc. See a Reversal After Breaking Its 52-Week High?

Today's Price Action: Could RPC, Inc. See a Reversal After Breaking Its 52 Week High?

The stock of RPC, Inc. (NYSE:RES) hit a new 52-week high and has $21.18 target or 8.00% above today’s $19.61 share price. The 5 months bullish chart indicates low risk for the $4.18 billion company. The 1-year high was reported on Nov, 30 by Barchart.com. If the $21.18 price target is reached, the company will be worth $334.40M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.26M shares traded hands. RPC, Inc. (NYSE:RES) has risen 18.33% since April 27, 2016 and is uptrending. It has outperformed by 13.11% the S&P500.

Analysts await RPC, Inc. (NYSE:RES) to report earnings on January, 25. They expect $-0.14 earnings per share, up 22.22% or $0.04 from last year’s $-0.18 per share. After $-0.18 actual earnings per share reported by RPC, Inc. for the previous quarter, Wall Street now forecasts -22.22% EPS growth.

RPC, Inc. (NYSE:RES) Ratings Coverage

Out of 14 analysts covering RPC (NYSE:RES), 6 rate it a “Buy”, 1 “Sell”, while 7 “Hold”. This means 43% are positive. $22.0 is the highest target while $8 is the lowest. The $14.96 average target is -23.71% below today’s ($19.61) stock price. RPC has been the topic of 33 analyst reports since August 14, 2015 according to StockzIntelligence Inc. The rating was downgraded by Wells Fargo to “Market Perform” on Tuesday, September 1. Morgan Stanley upgraded RPC, Inc. (NYSE:RES) on Thursday, January 28 to “Overweight” rating. The stock has “Market Perform” rating given by FBR Capital on Monday, September 21. On Wednesday, January 6 the stock rating was upgraded by FBR Capital to “Outperform”. The stock of RPC, Inc. (NYSE:RES) earned “Reduce” rating by Seaport Global on Tuesday, April 19. Tudor Pickering upgraded the stock to “Buy” rating in Tuesday, January 12 report. The stock of RPC, Inc. (NYSE:RES) earned “Equal-Weight” rating by Morgan Stanley on Thursday, March 17. Morgan Stanley maintained RPC, Inc. (NYSE:RES) rating on Tuesday, April 19. Morgan Stanley has “Equal-Weight” rating and $17.50 price target. The rating was maintained by FBR Capital on Thursday, October 27 with “Outperform”. Credit Suisse initiated the stock with “Neutral” rating in Monday, December 21 report.

According to Zacks Investment Research, “RPC, Inc. 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. It operates its business through two business segments- Technical Services and Support Services. Services and products offered by the Company include Cudd Pumping, Coiled Tubing, Snubbing, Nitrogen Units, Thru Tubing Solutions, Wireline, Fluid Pumps, Well Control, Production Rental Tools, Patterson Rental Tools, Patterson Tubular Services and Well Control School. The Company’s products and services can be found throughout the United States, including the Gulf of Mexico, mid-continent, southwest, Appalachian and Rocky Mountain regions, and in selected international markets. RPC, Inc. is headquartered in Atlanta, Georgia.”

Insitutional Activity: The institutional sentiment increased to 1.13 in Q2 2016. Its up 0.12, from 1.01 in 2016Q1. The ratio increased, as 27 funds sold all RPC, Inc. shares owned while 51 reduced positions. 19 funds bought stakes while 60 increased positions. They now own 75.44 million shares or 0.14% less from 75.55 million shares in 2016Q1.
Guardian has invested 0% of its portfolio in RPC, Inc. (NYSE:RES). Dimensional Fund Advsrs Lp owns 2.97M shares or 0.03% of their US portfolio. Schwab Charles Investment Management accumulated 0.01% or 604,308 shares. Lombard Odier Asset (Usa) accumulated 147,751 shares or 0.28% of the stock. Acadian Asset Management Limited Liability Corp accumulated 0% or 30,555 shares. The Illinois-based Northern Tru has invested 0% in RPC, Inc. (NYSE:RES). Blackrock Japan Company Ltd has 0% invested in the company for 19,790 shares. Price T Rowe Associate Incorporated Md last reported 2.75 million shares in the company. Us Natl Bank De has 0% invested in the company for 26,235 shares. Horizon Kinetics Ltd Limited Liability Company last reported 27,708 shares in the company. Keybank Natl Association Oh has invested 0.01% of its portfolio in RPC, Inc. (NYSE:RES). Pnc Services Gru holds 0% or 19,052 shares in its portfolio. First Tru Lp, a Illinois-based fund reported 2.25 million shares. Guggenheim Capital Lc accumulated 0.01% or 169,522 shares. Advsr Asset last reported 26,592 shares in the company.

Insider Transactions: Since June 6, 2016, the stock had 0 insider buys, and 2 sales for $2.21 million net activity. Shares for $635,058 were sold by PALMER BEN M. Another trade for 100,000 shares valued at $1.58M was sold by HUBBELL RICHARD A.

More important recent RPC, Inc. (NYSE:RES) news were published by: Prnewswire.com which released: “RPC, Inc. Announces Year-End Cash Dividend” on October 26, 2016, also Prnewswire.com published article titled: “Amy Rollins Kreisler Appointed to the RPC, Inc. Board of Directors”, Prnewswire.com published: “RPC, Inc. to Present at the Jefferies 6th Annual Energy Conference” on November 28, 2016. More interesting news about RPC, Inc. (NYSE:RES) was released by: Nasdaq.com and their article: “RPC, Inc. (RES) Ex-Dividend Date Scheduled for November 08, 2016” with publication date: November 07, 2016.

RES Company Profile

RPC, Inc. (RPC), incorporated on January 20, 1984, is a holding firm for several oilfield services companies. The Firm provides a range of specialized oilfield services and equipment to independent and gas and oil companies engaged in the exploration, production and development of gas and oil properties across the United States, including the southwest, mid-continent, Gulf of Mexico, Rocky Mountain and Appalachian regions, and in selected international markets. The Firm operates through two divisions: Technical Services and Support Services. RPC acts as a holding firm for its operating units, Cudd Energy Services, Patterson Rental and Fishing Tools, Bronco Oilfield Services, Thru Tubing Solutions, Well Control School and others.

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