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nice recovery on a down day with light volume. looking for it to go higher near it highs with all they have going on
great info,$tock rebounding nicely,shaken out weaker hands in previous days, was a great oppertunity to load up. happy trading
It totally sky rocketed! Here is some info about the shale plays, looks like some positive moves there.
Thats a great question... we shall wait and see...
how $low$ will it go before its next run up?
RES making a come back.... Looks like it will be a good buy as well.
Yes, let's keep the good news coming!
WOW what a day.keep the good news coming.very good upward buying volume.wonder where this will take us?confrence on the 27th $$$$$! vector vest target @30.22 happy trading :)
Looks like good news to me...
What should we expect next from RES?
im in with 1200 shares before the split but would love to load the boat at a safe entry point or with new upgrade
$106 oil isn't helping either. May have to jump on and ride this one out.
ihave to figure out a good entry point to double down.it seems there is always someone buying everything available in this uptrend showing no weakness.
Yeah I watched the Shell exec on CNBC an hour or two ago. Real upside on these stocks. I believe they also said they would produce more natural gas then oil by 2012 which I found very interesting. If natural gas moves 25-50% which is very realistic imagine what that will do for these stocks.
shell just had a big natural gas find in the gulf just seen on cnbc and has green light to drill in gulf and will take some years of drilling by multiple drilling companies to get in the pipeline within 7 years.(plenty of work $$)
I think we are looking at stronger returns regardless. The gulf improvements are going to be slow but stead from here on out in my opinion. However I don't think they will open it up as much as we need. At the same time oil services will continue to outperform as drilling increases worldwide.
with the gulf opening up again and new drilling starting (RES)stock price should do very well.
I think that is a very reasonable target. However long term I see continued performance beyond that.
vector vest stock analysis has price target of 30.22 and the previous target was 27.00 and is there stock of the week as of 3/28/11.this shows a lot of buying still at this level.happy trading
Looks like RPC is on an upward trend, how long do you think it will last?
fyi vector vest has a price target of $30.22 as of today
BEST RELATIVE PERFORMANCE IN THE OIL & GAS EQUIPMENT & SERVICES INDUSTRY DETECTED IN SHARES OF GLOBAL INDUSTRIES (GLBL, RES, IO, BAS, EXH)
Mar 25, 2011 (SmarTrend(R) News Watch via COMTEX) -- Below are the top five companies in the Oil & Gas Equipment & Services industry as measured by relative performance. This analysis was compiled based on yesterday's trading activity as we search for stocks that have the potential to outperform.
Global Industries (NASDAQ:GLBL) ranks first with a gain of 6.33%; RPC (NYSE:RES) ranks second with a gain of 2.26%; and ION Geophysical (NYSE:IO) ranks third with a gain of 1.99%.
Basic Energy Services (NYSE:BAS) follows with a gain of 1.76% and Exterran Holdings (NYSE:EXH) rounds out the top five with a gain of 1.64%.
SmarTrend currently has shares of ION Geophysical in an Uptrend and issued the Uptrend alert on July 26, 2010 at $4.55. The stock has risen 181.2% since the Uptrend alert was issued.
Write to Chip Brian at cbrian@tradethetrend.com
http://www.zacks.com/research/get_news.php?id=084l0678
Amid Oil's Risky Run-Up, RPC Pays Dividends
By PAUL WHITFIELD, INVESTOR'S BUSINESS DAILY Posted 03/03/2011 04:47 PM ET
Featured Stocks
*
CEO *
C N O O C Ltd Adr
RES *
R P C Inc (Added 03/07/2011)
* Top-Rated Company
Crude oil began to rise a little more than two weeks ago.
As the Industry Themes column noted Thursday, the last run-up to and beyond $100 oil, in 2008, lasted five months. Yet if history repeats, buying an oil stock solely for its dividend (not recommended) with a buy-and-hold strategy (not recommended) could be especially risky now if the short duration of the last major oil rally is any indication.
On the other hand, there's nothing to say an income investor can't reap most of his payout from capital appreciation.
RPC Inc. (RES) provides oilfield services and equipment to independent and major oil companies. The Atlanta-based company is a turnaround story.
Earnings in recent quarters were 9 cents a share, 21 cents, 31 cents and 38 cents — after weak-to-negative year-ago results. Revenue jumped 21%, 99%, 129% and 115% in the same period. The Street expects EPS to leap 367% and 119% in the next two quarters. Sales are expected to improve 85% and 68%.
The Sales + Profit Margins + ROE is only C, due to losses in 2009. But the Composite Rating is 97, which puts it above all but 3% of the stocks in IBD's database. The dividend yield is 1.4% on an annualized basis.
RPC could be forming a cup base, but has work to do on the right side.
China's CNOOC (CEO) delivered a 108% earnings gain and 106% sales pop in the past six months. (The company reports twice a year.)
The company's annualized dividend yield is about 2%. The Composite Rating is 97.
The chart needs work. The stock is below its 50-day moving average as it works on a base.
CNOOC carries unique risks. CNOOC's majority holder is the government, and China's government controls oil prices internally. The price controls occasionally lead to domestic shortages.
The controls also give companies an incentive to divert oil for export, where prices are often higher. The government sometimes responds with subsidies to keep the oil in China.
Sorting all these shifting elements can be tough. Other oil companies don't face troubles to this degree, though U.S.-based companies face their own regulatory problems.
http://www.investors.com/NewsAndAnalysis/Article/564855/201103031647/Amid-Oils-Risky-Run-Up-RPC-Pays-Dividends.aspx
RPC, Inc (RES) Downgraded by Zacks Investment Research to “Neutral”
Equities research analysts at Zacks Investment Research downgraded shares of RPC, Inc (NYSE: RES) from an “outperform” rating to a “neutral” rating in a research note to investors on Monday.
Separately, analysts at Canaccord Genuity raised their price target on shares of RPC, Inc from $30.00 to $37.00 in a research note to investors on Friday, December 3rd. They now have a “buy” rating on the stock.
RPC, Inc. (RPC) provides a range of specialized oilfield services and equipment primarily to independent and oil and gas companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the Gulf of Mexico, mid-continent, southwest, Rocky Mountain and Appalachian regions, and in selected international markets. The services and equipment provided include pressure pumping services, coiled tubing services, snubbing services (also referred to as hydraulic workover services), nitrogen services, the rental of drill pipe and other specialized oilfield equipment, downhole tool rental services and firefighting and well control. 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. RPC’s service lines are aggregated into two segments: Technical Services and Support Services.
RPC, Inc last announced its quarterly results on Wednesday, January 26th. The company reported $0.38 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.35 EPS by $0.03. During the same quarter in the prior year, the company posted ($0.05) earnings per share. The company’s quarterly revenue was up 115.3% on a year-over-year basis. On average, analysts predict that RPC, Inc will post $0.46 EPS next quarter.
Shares of RPC, Inc (NYSE: RES) traded down 1.57% during mid-day trading on Wednesday, hitting $20.72. RPC, Inc has a 52 week low of $6.6067 and a 52 week high of $22.58. The stock’s 50-day moving average is $18.25 and its 200-day moving average is $16.63. The company has a market cap of $3.007 billion and a price-to-earnings ratio of 21.05.
For more information about Zacks Investment Research‘s equity research offerings, visit Zacks.com.
Stay on top of analysts' coverage with American Banking & Market News' daily email newsletter that provides a concise list of analysts’ upgrades, analysts’ downgrades and analysts’ price target changes for each day. Click Here to register.
http://www.americanbankingnews.com/2011/03/09/rpc-inc-res-downgraded-by-zacks-investment-research-to-neutral/
SunTrust (STI) Analysts Begin Coverage on RPC, Inc (RES)
Equities research analysts at SunTrust (NYSE: STI) initiated coverage on shares of RPC, Inc (NYSE: RES) in a research note to investors on Wednesday. The analysts set a “buy” rating and a $27.00 price target on the stock.
Separately, analysts at Zacks Investment Research downgraded shares of RPC, Inc from an “outperform” rating to a “neutral” rating in a research note to investors on Monday, March 7th.
RPC, Inc. (RPC) provides a range of specialized oilfield services and equipment primarily to independent and oil and gas companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the Gulf of Mexico, mid-continent, southwest, Rocky Mountain and Appalachian regions, and in selected international markets. The services and equipment provided include pressure pumping services, coiled tubing services, snubbing services (also referred to as hydraulic workover services), nitrogen services, the rental of drill pipe and other specialized oilfield equipment, downhole tool rental services and firefighting and well control. 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. RPC’s service lines are aggregated into two segments: Technical Services and Support Services.
RPC, Inc last announced its quarterly results on Wednesday, January 26th. The company reported $0.38 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.35 EPS by $0.03. During the same quarter in the prior year, the company posted ($0.05) earnings per share. The company’s quarterly revenue was up 115.3% on a year-over-year basis. On average, analysts predict that RPC, Inc will post $0.46 EPS next quarter.
Shares of RPC, Inc (NYSE: RES) opened at 20.02 on Thursday. RPC, Inc has a 52 week low of $6.6067 and a 52 week high of $22.58. The stock’s 50-day moving average is $18.66 and its 200-day moving average is $16.95. The company has a market cap of $2.962 billion and a price-to-earnings ratio of 20.02.
Stay on top of analysts' coverage with American Banking & Market News' daily email newsletter that provides a concise list of analysts’ upgrades, analysts’ downgrades and analysts’ price target changes for each day. Click Here to register.
http://www.americanbankingnews.com/2011/03/17/suntrust-sti-analysts-begin-coverage-on-rpc-inc-res/
RES - The gift that keeps on giving!!!!
Ah, that would explain why this continues to climb. Great info, thx!!
Actually it doesn't matter if you bought after the ex dividend date. You still get the split just but not the dividend.
Caught this before Nov. 10 deadline for the 3:2 split. Long play, this should be a crowd pleaser :)
P&F current price obj 23.34. Significant move from last Friday's close.
RPC, Inc. Reports 2007 Fourth Quarter Financial Results
ATLANTA, Jan. 23 /PRNewswire-FirstCall/ -- RPC, Inc. (NYSE: RES) today announced its unaudited results for the fourth quarter and year ended December 31, 2007. RPC provides a broad range of specialized oilfield services and equipment primarily to independent and major oilfield companies engaged in the exploration, production and development of oil and gas properties throughout the United States and in selected international markets.
For the quarter ended December 31, 2007, revenues increased 16.1 percent to $186,189,000 compared to $160,332,000 in the fourth quarter last year. Revenues increased compared to the prior year primarily due to higher capacity of revenue-producing equipment placed in service during 2007, partially offset by lower pricing for some of our services. Operating profit for the quarter was $34,685,000 compared to $47,308,000 in the prior year. Net income was $20,296,000 or $0.21 diluted earnings per share, compared to $29,510,000 or $0.30 diluted earnings per share last year. Earnings before interest, taxes, depreciation and amortization (EBITDA) were $58,668,000 compared to $60,530,000 in the prior year, a decline of 3.1 percent. (1)
For the 12 months ended December 31, 2007, revenues increased 15.7 percent to $690,226,000 compared to $596,630,000 last year. Net income decreased 21.4 percent to $87,049,000, or $0.89 diluted earnings per share compared to net income of $110,794,000, or $1.13 diluted earnings per share last year. EBITDA was $222,449,000 for the year, compared to $225,596,000, a decline of 1.4 percent.
Cost of services rendered and goods sold was $101,032,000, or 54.3 percent of revenues, during the fourth quarter of 2007, compared to $77,580,000, or 48.4 percent of revenues, in the prior year. The increase in these costs was due to the variable nature of many of these expenses, including materials and supplies, compensation, and fuel and transportation. As a percentage of revenues, cost of services rendered and goods sold also increased because of upward cost pressures for materials and supplies, personnel, and fuel, as well as lower pricing for our services, due to increased competition. Selling, general and administrative expenses increased by 18.6 percent in the fourth quarter of 2007 to $28,571,000 from $24,096,000 in the prior year. This increase was due primarily to higher employment costs consistent with higher activity levels and geographic expansion under RPC's long-term growth plan. As a percentage of revenues, these costs increased to 15.3 percent in 2007 compared to 15.0 percent last year. Depreciation and amortization increased to $23,702,000 during the quarter, compared to $12,837,000 last year, due to the large amount of capital expenditures made during recent quarters under RPC's growth plan. Interest expense also increased, from $298,000 last year to $1,666,000 in 2007, due to a higher average balance on RPC's revolving credit facility.
"RPC's revenues grew approximately 16 percent during the quarter, a greater rate than our domestic industry benchmarks, due to capacity added under our long-term growth plan," stated Richard A. Hubbell, RPC's President and Chief Executive Officer. "The average domestic rig count during the fourth quarter was 1,791, a 4.2 percent increase compared to the same period in 2006. The price of natural gas increased 5.8 percent, and the price of oil increased 51.6 percent.
Hubbell continued, "We are relatively pleased with our fourth quarter 2007 results, especially as compared to the third quarter of 2007. During the fourth quarter we continued our long-term growth plan, and placed some new equipment in service at acceptable utilization levels. In addition, we experienced less severe pricing declines for our services than in previous quarters. We anticipate that the final equipment orders, along with their ancillary support equipment, will be delivered and operational during the first quarter of 2008. For the remainder of 2008 we will only selectively grow our capacity in our largest service lines. At this point, capacity additions under our long-term growth plan are substantially complete.
"Increased competition, causing lower pricing for our services, and higher costs for labor and materials, all of which cannot be passed through to customers, continue to have a negative impact on our financial results. In 2008, we will address these external forces by focusing on operational execution. This includes taking steps to make our new operational locations fully viable, enhancing our sales and marketing efforts, and managing our personnel costs effectively, all with the goals of maximizing our profitability and returns on invested capital. We finished the year with approximately $156,000,000 drawn on our credit facility, and our focus in 2008 will be to reduce this amount through cash flow generated from our operations," concluded Hubbell.
Summary of Segment Operating Performance
RPC's business segments are Technical Services and Support Services.
Technical Services includes RPC's oilfield service lines that utilize people and equipment to perform value-added completion, production and maintenance services directly to a customer's well. These services are generally directed toward improving the flow of oil and natural gas from producing formations or to address well control issues. The Technical Services segment includes pressure pumping, coiled tubing, hydraulic workover services, nitrogen, downhole tools, surface pressure control equipment, well control, and fishing tool operations.
Support Services includes RPC's oilfield service lines that provide equipment for customer use or services to assist customer operations. The equipment and services offered include rental of drill pipe and related tools, pipe handling, inspection and storage services and oilfield training services.
Technical Services and Support Services experienced increased revenues due to the increased drilling rig count and higher capacity. Technical Services revenues rose 18.5 percent for the quarter compared to the prior year, driven by increased capacity, partially offset by lower pricing for services. Support Services revenues rose by 4.7 percent during the quarter compared to the prior year. This increase was driven primarily by increased capacity and a more profitable job mix in the rental tool service line, which is the largest service line within Support Services. Operating profit declined in both segments primarily due to competitive pricing pressures and increased depreciation.
Three Months Ended Twelve Months Ended
December 31 December 31
2007 2006 2007 2006
(in thousands)
Revenues:
Technical
services $157,399 $132,828 $574,723 $495,090
Support services 28,790 27,504 115,503 101,540
Total revenues $186,189 $160,332 $690,226 $596,630
Operating Profit:
Technical
services $29,222 $39,712 $116,493 $153,126
Support services 6,391 9,185 29,955 30,953
Corporate
expenses (2,729) (3,078) (10,703) (12,248)
Gain on
disposition of
assets, net 1,801 1,489 6,293 5,969
Total operating
profit $34,685 $47,308 $142,038 $177,800
Other Income, net 281 385 1,905 1,085
Interest Expense (1,666) (298) (4,179) (356)
Interest Income 21 1 70 319
Income before income
taxes $33,321 $47,396 $139,834 $178,848
RPC provides a broad range of specialized oilfield services and equipment primarily to independent and major oilfield companies engaged in the exploration, production and development of oil and gas properties throughout the United States, including the Gulf of Mexico, mid-continent, southwest and Rocky Mountain regions, and in selected international markets. RPC's investor website can be found at www.rpc.net.
Certain statements and information included in this press release constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include statements regarding our belief that our final equipment orders, along with their ancillary support equipment, will be delivered and operational during the first quarter of 2008; our plan to only selectively grow our capacity in our largest service lines in 2008; our belief that our capacity additions under our long-term growth plan are substantially complete; our plans during 2008 to focus on operational execution including making our new operational locations fully viable, enhancing our sales and marketing efforts, and managing our personnel costs, all with the goals of maximizing our profitability and returns on invested capital; and our plan to focus in 2008 on reducing amounts drawn on our credit facility through cash flow which we believe will be generated from our operations. These statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of RPC to be materially different from any future results, performance or achievements expressed or implied in such forward-looking statements. Such risks include the possibility of declines in the price of oil and natural gas, which tend to result in a decrease in drilling activity and therefore a decline in the demand for our services, the actions of the OPEC cartel, the ultimate impact of current and potential political unrest and armed conflict in the oil-producing regions of the world, which could impact drilling activity, adverse weather conditions in oil or gas
producing regions, including the Gulf of Mexico, competition in the oil and gas industry, and risks of international operations. Additional discussion of factors that could cause the actual results to differ materially from management's projections, forecasts, estimates and expectations is contained in RPC's Form 10-K filed with the Securities and Exchange Commission for the year ended December 31, 2006.
Very important for 10.70 to hold as next support not until 8.66.
RES on a short-term buy signal from yesterday's close. Next target is upper Bollinger Band. See daily charts in iBox.
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