RPC Inc Gets a Buy Rating from B.Riley FBR

B.Riley FBR analyst Tom Curran maintained a Buy rating on RPC Inc (NYSE: RES) today and set a price target of $27. The company’s shares opened today at $23.65.

Curran commented:

“Late last week, we hosted Jim Landers, VP corporate finance, and Clint Walker, EVP & GM – Cudd Energy Services, in meetings with clients. Management provided a bullish overview that, in our view, was not only supportive of RES’s bull case, but also pointed to real potential upside to our above-consensus 2018E EBITDA and suggested next year’s capital return could include another year-end special, as well as the reinstated regular dividend. Thus, while RES is trading at a rich premium valuation to pumping peers, the stock still offers an attractive risk/reward profile, in our opinion, and we would use the current OSX retreat to establish/add to a position. We maintain our Buy rating and $27 price target.”

According to TipRanks.com, Curran is a 1-star analyst with an average return of -3.3% and a 49.6% success rate. Curran covers the Basic Materials sector, focusing on stocks such as Independence Contract Drilling, Select Energy Services Inc, and Baker Hughes a GE company.

RPC Inc has an analyst consensus of Hold, with a price target consensus of $24.29.

The company has a one-year high of $26.38 and a one-year low of $16.58. Currently, RPC Inc has an average volume of 1.48M.

Based on the recent corporate insider activity of 20 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RES in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

RPC, Inc. is an oil and gas services company. It is engaged in the exploration, production and development of oil and gas properties. The company operates through the following business segments: Technical Services and Support Services.

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