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Buyers Accumulate Shares of RPC, Up 1.4%

Published on Wed, 02/27/2013 - 11:33
By Mallory Stone

RPC (NYSE:RES) is a company whose shares are active, trading 1.4% higher to $15.95. The Dow is up 0.4% to 13,962 and the S&P is currently up 0.5% to 1,504.

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.

Based on a current price of $15.95, RPC is currently 6.8% above its average consensus analyst price target of $14.86. The stock should find initial support at its 50-day moving average (MA) of $14.22 and further support at its 200-day MA of $12.41.

In the past 52 weeks, shares of RPC have traded between a low of $8.75 and a high of $17.40 and are now at $15.95, which is 82% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has advanced 1.5%.

By Mallory Stone
mstone@fnno.com