Analyst Rating Update on RPC (RES)

RPC (NYSE:RES) : The consensus on RPC (NYSE: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 (NYSE:RES).

RPC (NYSE:RES) : The most positive equity analysts on RPC (NYSE:RES) expects the shares to touch $22, whereas, the least positive believes that the stock will trade at $10 in the short term. The company is covered by 10 Wall Street Brokerage Firms. The average price target for shares are $15.7 with an expected fluctuation of $4.03 from the mean.

For the current week, the company shares have a recommendation consensus of Buy. Also, Morgan Stanley maintains its view on RPC (NYSE:RES) according to the research report released by the firm to its investors. The shares have now been rated Equal-weight by the stock experts at the ratings house. Morgan Stanley raises the price target from $17.5 per share to $19 per share on RPC . The rating by the firm was issued on April 27, 2016.

RPC (NYSE:RES): stock turned positive on Tuesday. Though the stock opened at $14.47, the bulls momentum made the stock top out at $14.77 level for the day. The stock recorded a low of $14.4 and closed the trading day at $14.74, in the green by 3.58%. The total traded volume for the day was 1,633,444. The stock had closed at $14.23 in the previous days trading.

In an insider trading activity, The director officer (President and CEO), of Rpc Inc, Hubbell Richard A had unloaded 100,000 shares at $15.8 per share in a transaction on June 6, 2016. The total value of transaction was $1,580,000. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.

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.

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