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Recent 52-Week High Exceeded in Shares of RPC (RES)

Published on Thu, 01/31/2013 - 15:15
By Adrienne Chilton

Shares of RPC (NYSE:RES) traded today at $14.90, breaking its 52-week high. This new high was reached on below average trading volume as 307,000 shares traded hands, while the average 30-day volume is approximately 689,000 shares.

RPC, Inc. provides specialized oilfield services and equipment to independent and major oilfield companies. The Company's services include snubbing services, coiled tubing services, pressure pumping services, marine services, firefighting and well control, and rental of drill pipe and other equipment.

RPC (NYSE:RES) is currently priced 2.2% above its average consensus analyst price target of $14.50. The stock should find initial support at its 50-day moving average (MA) of $12.60 and further support at its 200-day MA of $11.85.

In the past 52 weeks, RPC share prices have been bracketed by a low of $8.75 and a high of $14.90 and are now at $14.82, 69% above that low price. The 200-day and 50-day moving averages have moved 0.68% higher and 1.89% higher over the past week, respectively.

By Adrienne Chilton