RPC (RES) : Traders are bullish on RPC (RES) as it has outperformed the S&P 500 by a wide margin of 1.34% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 4.47%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 4.53% in the last 1 week, and is up 2.38% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 6.14% and the 50-Day Moving Average is 2.47%. RPC (NYSE:RES): stock turned positive on Friday. Though the stock opened at $15.43, the bulls momentum made the stock top out at $15.62 level for the day. The stock recorded a low of $15.28 and closed the trading day at $15.46, in the green by 0.39%. The total traded volume for the day was 1,245,961. The stock had closed at $15.4 in the previous days trading.
The company Insiders own 73.4% of RPC shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -3.52% . Institutional Investors own 35.39% of RPC shares. During last six month period, the net percent change held by insiders has seen a change of -3.52%. Also, Major Brokerage house, Citigroup maintains its ratings on RPC (NYSE:RES). In the latest research report, Citigroup lowers the target price from $17 per share to $15 per share. According to the latest information available, the shares are now rated Neutral by the analysts at the agency. The rating by the firm was issued on July 29, 2016.
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.