Seaport Global Believes RES Still Has Room to Grow

By Jason Carr

Seaport Global analyst Mark Brown upgraded RPC Inc (NYSE: RES) to Buy today. The company’s shares closed yesterday at $20.08, close to its 52-week high of $20.46.

According to TipRanks.com, Brown is ranked 0 out of 5 stars with an average return of -11.5% and a 41.5% success rate. Brown covers the Basic Materials sector, focusing on stocks such as Natural Gas Services Group, Diamond Offshore Drilling, and Oceaneering International.

Currently, the analyst consensus on RPC Inc is Strong Buy and the average price target is $20, representing a -0.4% downside.

In a report issued on November 28, Jefferies also initiated coverage with a Buy rating on the stock with a $22 price target.

The company has a one year high of $20.46 and a one year low of $9.73. Currently, RPC Inc has an average volume of 1.73M.

Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is negative on the stock. Last month, Ben Palmer, the VP, CFO & Treas of RES sold 35,479 shares for a total of $635,040.

RPC, Inc. is an oil and gas services company. It is engaged in the exploration, production and development of oil and gas properties. It operates through two segments: Technical Services and Support Services. The Technical Services segment provides oil and gas, fracturing, acidizing, downhole tools, coiled tubing, snubbing, nitrogen, well control, wireline and fishing services. The Support Services segment provides oilfield pipe inspection services and rental tools for use with onshore and offshore oil and gas well drilling. The company’s operating business units include Cudd Energy Services, Patterson Rental and Fishing Tools, Bronco Oilfield Services, Thru Tubing Solutions, Well Control School, and Others. RPC was founded in 1984 and is headquartered in Atlanta, GA.